Daiwa Capital Markets Downgrades JinkoSolar (NYSE:JKS) to Sell

JinkoSolar (NYSE:JKS - Get Free Report) was downgraded by analysts at Daiwa Capital Markets from an "underperform" rating to a "sell" rating in a research report issued on Friday, MarketBeat Ratings reports.

JKS has been the subject of a number of other research reports. StockNews.com raised shares of JinkoSolar from a "sell" rating to a "hold" rating in a report on Wednesday, September 18th. Jefferies Financial Group increased their target price on shares of JinkoSolar from $36.00 to $65.00 and gave the stock a "buy" rating in a report on Thursday, December 5th. Two analysts have rated the stock with a sell rating, five have assigned a hold rating and one has assigned a buy rating to the company. According to MarketBeat, the company presently has a consensus rating of "Hold" and a consensus target price of $31.33.

JinkoSolar Price Performance

Shares of JKS stock traded down $1.33 on Friday, reaching $24.78. The company had a trading volume of 892,137 shares, compared to its average volume of 858,904. The stock has a market capitalization of $1.32 billion, a PE ratio of 42.00 and a beta of 0.30. The company has a quick ratio of 0.97, a current ratio of 1.22 and a debt-to-equity ratio of 0.81. JinkoSolar has a one year low of $16.70 and a one year high of $37.36. The business's 50-day moving average is $24.82 and its 200 day moving average is $22.44.

Institutional Inflows and Outflows

Large investors have recently added to or reduced their stakes in the business. Signaturefd LLC increased its position in JinkoSolar by 108.0% during the 3rd quarter. Signaturefd LLC now owns 1,246 shares of the semiconductor company's stock valued at $33,000 after purchasing an additional 647 shares during the period. Barclays PLC increased its position in JinkoSolar by 30.2% during the 3rd 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. Headlands Technologies LLC increased its position in JinkoSolar by 607.7% during the 2nd quarter. Headlands Technologies LLC now owns 4,048 shares of the semiconductor company's stock valued at $84,000 after purchasing an additional 3,476 shares during the period. Banque Cantonale Vaudoise increased its position in JinkoSolar by 198.1% during the 3rd quarter. Banque Cantonale Vaudoise now owns 7,923 shares of the semiconductor company's stock valued at $212,000 after purchasing an additional 5,265 shares during the period. Finally, Daiwa Securities Group Inc. grew its position in shares of JinkoSolar by 15.8% during the 3rd quarter. Daiwa Securities Group Inc. now owns 8,800 shares of the semiconductor company's stock worth $236,000 after buying an additional 1,200 shares during the period. Institutional investors own 35.82% of the company's stock.

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.