Pictet Asset Management Holding SA Makes New $5.95 Million Investment in JinkoSolar Holding Co., Ltd. (NYSE:JKS)

Pictet Asset Management Holding SA bought a new position in JinkoSolar Holding Co., Ltd. (NYSE:JKS - Free Report) during the fourth quarter, according to its most recent disclosure with the SEC. The institutional investor bought 238,877 shares of the semiconductor company's stock, valued at approximately $5,948,000. Pictet Asset Management Holding SA owned 0.45% of JinkoSolar at the end of the most recent reporting period.

A number of other large investors also recently bought and sold shares of the business. Barclays PLC increased its holdings in shares of JinkoSolar by 30.2% during the third quarter. Barclays PLC now owns 2,318 shares of the semiconductor company's stock valued at $62,000 after acquiring an additional 537 shares in the last quarter. SBI Securities Co. Ltd. purchased a new stake in JinkoSolar during the 4th quarter valued at about $119,000. New York State Common Retirement Fund bought a new stake in JinkoSolar during the 4th quarter valued at about $132,000. Cornerstone Investment Partners LLC purchased a new position in JinkoSolar in the fourth quarter worth about $231,000. Finally, Mitsubishi UFJ Asset Management Co. Ltd. lifted its stake in shares of JinkoSolar by 5.3% in 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 in the last quarter. 35.82% of the stock is owned by hedge funds and other institutional investors.

JinkoSolar Stock Performance

JinkoSolar stock traded down $1.90 during mid-day trading on Tuesday, reaching $14.39. 1,845,566 shares of the stock traded hands, compared to its average volume of 1,057,263. The stock has a market capitalization of $764.63 million, a PE ratio of 24.38 and a beta of 0.17. The company has a debt-to-equity ratio of 0.81, a current ratio of 1.22 and a quick ratio of 0.97. The business's 50-day moving average is $21.15 and its 200-day moving average is $23.01. JinkoSolar Holding Co., Ltd. has a 12-month low of $14.32 and a 12-month high of $37.36.

Remove Ads

JinkoSolar (NYSE:JKS - Get Free Report) last released its quarterly 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 business had revenue of $20.65 billion for the quarter, compared to analysts' expectations of $3.38 billion. JinkoSolar had a net margin of 0.53% and a return on equity of 4.18%. JinkoSolar's revenue for the quarter was down 37.1% compared to the same quarter last year. During the same period in the previous year, the company earned $0.54 EPS. As a group, sell-side analysts predict that JinkoSolar Holding Co., Ltd. will post -0.24 EPS for the current fiscal year.

Wall Street Analyst Weigh In

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

JinkoSolar 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.