JinkoSolar Holding Co., Ltd. (NYSE:JKS) Receives Average Recommendation of "Reduce" from Brokerages

JinkoSolar Holding Co., Ltd. (NYSE:JKS - Get Free Report) has earned an average recommendation of "Reduce" from the six brokerages that are presently covering the firm, Marketbeat Ratings reports. One investment analyst has rated the stock with a sell recommendation and five have given a hold recommendation to the company. The average 12-month price target among brokers that have updated their coverage on the stock in the last year is $24.60.

JKS has been the subject of several research analyst reports. StockNews.com upgraded shares of JinkoSolar from a "sell" rating to a "hold" rating in a research report on Wednesday, September 18th. The Goldman Sachs Group cut their target price on shares of JinkoSolar from $21.00 to $18.00 and set a "sell" rating for the company in a research report on Tuesday, September 3rd. Finally, Roth Mkm lowered their price target on JinkoSolar from $25.00 to $20.00 and set a "neutral" rating on the stock in a research report on Wednesday, September 4th.

Institutional Trading of JinkoSolar

Several institutional investors have recently added to or reduced their stakes in JKS. Barclays PLC lifted its stake in shares of JinkoSolar by 30.2% in the 3rd quarter. Barclays PLC now owns 2,318 shares of the semiconductor company's stock valued at $62,000 after acquiring an additional 537 shares during the last quarter. Geode Capital Management LLC lifted its position in JinkoSolar by 19.7% in the third quarter. Geode Capital Management LLC now owns 44,613 shares of the semiconductor company's stock valued at $1,197,000 after purchasing an additional 7,333 shares during the last quarter. Public Employees Retirement System of Ohio purchased a new stake in shares of JinkoSolar during the third quarter valued at approximately $928,000. State Street Corp grew its holdings in shares of JinkoSolar by 10.7% in the third quarter. State Street Corp now owns 696,763 shares of the semiconductor company's stock worth $18,687,000 after purchasing an additional 67,223 shares during the last quarter. Finally, Verition Fund Management LLC purchased a new position in shares of JinkoSolar in the third quarter worth $682,000. 35.82% of the stock is currently owned by hedge funds and other institutional investors.

JinkoSolar Price Performance

JKS traded down $0.68 during trading on Tuesday, reaching $21.83. 581,313 shares of the company were exchanged, compared to its average volume of 1,064,914. JinkoSolar has a 12-month low of $16.70 and a 12-month high of $38.37. The company's 50-day moving average is $23.20 and its two-hundred day moving average is $22.43. The company has a quick ratio of 0.97, a current ratio of 1.22 and a debt-to-equity ratio of 0.81. The company has a market cap of $1.16 billion, a price-to-earnings ratio of 37.00 and a beta of 0.44.

JinkoSolar (NYSE:JKS - Get Free Report) last announced its quarterly earnings results on Friday, August 30th. The semiconductor company reported $0.97 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.05 by $0.92. The firm had revenue of $3.31 billion for the quarter, compared to the consensus estimate of $3.85 billion. JinkoSolar had a net margin of 0.53% and a return on equity of 4.18%. Research analysts forecast that JinkoSolar will post -0.42 earnings per share for the current fiscal 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.