Invesco Ltd. reduced its stake in shares of JinkoSolar Holding Co., Ltd. (NYSE:JKS - Free Report) by 25.9% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,230,495 shares of the semiconductor company's stock after selling 430,003 shares during the quarter. Invesco Ltd. owned about 2.32% of JinkoSolar worth $30,639,000 at the end of the most recent quarter.
Several other large investors also recently bought and sold shares of the stock. Himension Capital Singapore PTE. LTD. boosted its position in shares of JinkoSolar by 472.8% in the 4th quarter. Himension Capital Singapore PTE. LTD. now owns 55,175 shares of the semiconductor company's stock valued at $1,374,000 after purchasing an additional 45,542 shares during the period. Russell Investments Group Ltd. acquired a new stake in shares of JinkoSolar in the fourth quarter valued at approximately $744,000. Trexquant Investment LP acquired a new stake in shares of JinkoSolar in the fourth quarter valued at approximately $341,000. Pictet Asset Management Holding SA purchased a new position in shares of JinkoSolar during the fourth quarter worth approximately $5,948,000. Finally, Mitsubishi UFJ Asset Management Co. Ltd. increased its holdings in shares of JinkoSolar by 5.3% in the 4th quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 20,289 shares of the semiconductor company's stock valued at $532,000 after acquiring an additional 1,028 shares during the period. Institutional investors and hedge funds own 35.82% of the company's stock.
Analysts Set New Price Targets
Several research analysts have issued reports on JKS shares. Daiwa Capital Markets downgraded shares of JinkoSolar from an "underperform" rating to a "sell" rating in a research report on Friday, January 10th. UBS Group reduced their price objective on JinkoSolar from $25.00 to $22.00 and set a "neutral" rating for the company in a research note on Thursday, March 27th. The Goldman Sachs Group lowered their target price on JinkoSolar from $20.00 to $18.00 and set a "sell" rating on the stock in a research note on Thursday, March 27th. Finally, Glj Research cut their price target on JinkoSolar from $13.08 to $10.95 and set a "sell" rating for the company in a research note on Thursday, January 23rd. Three research analysts have rated the stock with a sell rating, three have given a hold rating and one has given a buy rating to the company's stock. According to MarketBeat, the stock presently has an average rating of "Hold" and an average target price of $27.19.
Check Out Our Latest Analysis on JKS
JinkoSolar Stock Performance
Shares of JKS stock opened at $16.18 on Friday. The company has a current ratio of 1.22, a quick ratio of 0.97 and a debt-to-equity ratio of 0.81. JinkoSolar Holding Co., Ltd. has a 12-month low of $13.42 and a 12-month high of $37.36. The company has a market cap of $860.15 million, a price-to-earnings ratio of 27.43 and a beta of 0.17. The stock has a 50 day simple moving average of $20.25 and a 200-day simple moving average of $22.63.
JinkoSolar (NYSE:JKS - Get Free Report) last issued its earnings results on Wednesday, March 26th. The semiconductor company reported ($1.01) EPS for the quarter, missing the consensus estimate of ($0.46) by ($0.55). The company had revenue of $20.65 billion for the quarter, compared to analysts' expectations of $3.38 billion. JinkoSolar had a return on equity of 4.18% and a net margin of 0.53%. JinkoSolar's revenue for the quarter was down 37.1% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.54 earnings per share. On average, equities analysts forecast that JinkoSolar Holding Co., Ltd. will post -0.24 EPS for the current year.
JinkoSolar Profile
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Free Report)
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.
Further Reading
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