California Public Employees Retirement System Sells 18,535 Shares of JinkoSolar Holding Co., Ltd. (NYSE:JKS)

California Public Employees Retirement System trimmed its holdings in shares of JinkoSolar Holding Co., Ltd. (NYSE:JKS - Free Report) by 27.7% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 48,426 shares of the semiconductor company's stock after selling 18,535 shares during the quarter. California Public Employees Retirement System owned 0.09% of JinkoSolar worth $1,206,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the business. Barclays PLC increased its holdings in JinkoSolar by 30.2% in the third quarter. Barclays PLC now owns 2,318 shares of the semiconductor company's stock valued at $62,000 after purchasing an additional 537 shares during the period. SBI Securities Co. Ltd. acquired a new position in shares of JinkoSolar in the fourth quarter worth approximately $119,000. New York State Common Retirement Fund bought a new stake in shares of JinkoSolar in the 4th quarter valued at $132,000. Cornerstone Investment Partners LLC acquired a new stake in shares of JinkoSolar during the fourth quarter worth $231,000. Finally, Mitsubishi UFJ Asset Management Co. Ltd. raised its stake in JinkoSolar by 5.3% during the fourth quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 20,289 shares of the semiconductor company's stock worth $532,000 after buying an additional 1,028 shares during the last quarter. 35.82% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several research analysts have recently weighed in on JKS shares. Daiwa Capital Markets lowered JinkoSolar from an "underperform" rating to a "sell" rating in a research report on Friday, January 10th. Glj Research lowered their target price on JinkoSolar from $13.08 to $10.95 and set a "sell" rating for the company in a report on Thursday, January 23rd. The Goldman Sachs Group reduced their price objective on shares of JinkoSolar from $20.00 to $18.00 and set a "sell" rating for the company in a research report on Thursday, March 27th. Finally, UBS Group dropped their target price on shares of JinkoSolar from $25.00 to $22.00 and set a "neutral" rating on the stock in a research report on Thursday, March 27th. Three equities research analysts have rated the stock with a sell rating, three have assigned a hold rating and one has assigned a buy rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of "Hold" and a consensus price target of $27.19.

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JinkoSolar Stock Up 11.2 %

Shares of JinkoSolar stock traded up $1.62 during trading hours on Monday, reaching $16.04. The company's stock had a trading volume of 173,033 shares, compared to its average volume of 1,057,615. The company has a debt-to-equity ratio of 0.81, a quick ratio of 0.97 and a current ratio of 1.22. JinkoSolar Holding Co., Ltd. has a one year low of $13.42 and a one year high of $37.36. The company has a market capitalization of $852.34 million, a P/E ratio of 27.18 and a beta of 0.17. The stock's fifty day simple moving average is $20.70 and its two-hundred day simple moving average is $22.86.

JinkoSolar (NYSE:JKS - Get Free Report) last issued its quarterly earnings data on Wednesday, March 26th. The semiconductor company reported ($1.01) EPS for the quarter, missing analysts' consensus estimates of ($0.46) by ($0.55). JinkoSolar had a return on equity of 4.18% and a net margin of 0.53%. The company had revenue of $20.65 billion for the quarter, compared to the consensus estimate of $3.38 billion. During the same period in the prior year, the firm posted $0.54 earnings per share. The business's revenue for the quarter was down 37.1% on a year-over-year basis. On average, research analysts forecast that JinkoSolar Holding Co., Ltd. will post -0.24 earnings per share for the current year.

JinkoSolar Company Profile

JinkoSolar Holding Co, Ltd., together with its subsidiaries, engages in the design, development, production, and marketing of photovoltaic products. The company offers solar modules, silicon wafers, solar cells, recovered silicon materials, and silicon ingots. It also provides solar system integration services; solar power generation and solar system EPC services; and energy storage system, as well as undertakes solar power projects.