Vanguard Group Inc. cut its stake in JinkoSolar Holding Co., Ltd. (NYSE:JKS - Free Report) by 17.4% in the 4th quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 1,338,296 shares of the semiconductor company's stock after selling 281,662 shares during the quarter. Vanguard Group Inc. owned about 2.52% of JinkoSolar worth $33,324,000 at the end of the most recent quarter.
Other institutional investors and hedge funds have also bought and sold shares of the company. Barclays PLC increased its position 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 buying an additional 537 shares during the period. SBI Securities Co. Ltd. purchased a new position in JinkoSolar during the fourth quarter valued at $119,000. New York State Common Retirement Fund purchased a new position in JinkoSolar during the fourth quarter valued at approximately $132,000. Cornerstone Investment Partners LLC bought a new position in shares of JinkoSolar in the fourth quarter worth about $231,000. Finally, Capital Wealth Planning LLC bought a new position in shares of JinkoSolar during the fourth quarter worth $752,000. 35.82% of the stock is currently owned by hedge funds and other institutional investors.
JinkoSolar Trading Up 1.5 %
Shares of NYSE JKS traded up $0.24 during mid-day trading on Tuesday, reaching $15.70. 1,039,448 shares of the company's stock were exchanged, compared to its average volume of 1,066,213. The company's 50-day moving average is $20.48 and its 200-day moving average is $22.75. The firm has a market capitalization of $834.48 million, a price-to-earnings ratio of 26.61 and a beta of 0.17. JinkoSolar Holding Co., Ltd. has a 52-week low of $13.42 and a 52-week high of $37.36. 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 (NYSE:JKS - Get Free Report) last posted 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 firm had revenue of $20.65 billion for the quarter, compared to analyst estimates of $3.38 billion. JinkoSolar had a return on equity of 4.18% and a net margin of 0.53%. The company's revenue was down 37.1% on a year-over-year basis. During the same quarter last year, the firm earned $0.54 EPS. Analysts expect that JinkoSolar Holding Co., Ltd. will post -0.24 EPS for the current fiscal year.
Wall Street Analyst Weigh In
JKS has been the topic of several research reports. Glj Research reduced their price target on shares of JinkoSolar from $13.08 to $10.95 and set a "sell" rating on the stock in a research report 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 note on Thursday, March 27th. UBS Group reduced their price target on JinkoSolar from $25.00 to $22.00 and set a "neutral" rating for the company 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 note on Friday, January 10th. Three research analysts have rated the stock with a sell rating, three have given a hold rating and one has assigned a buy rating to the stock. According to data from MarketBeat, the stock currently has an average rating of "Hold" and a consensus target price of $27.19.
Check Out Our Latest Stock Analysis on JKS
JinkoSolar Company Profile
(
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.
See Also
Before you consider JinkoSolar, you'll want to hear this.
MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and JinkoSolar wasn't on the list.
While JinkoSolar currently has a Reduce rating among analysts, top-rated analysts believe these five stocks are better buys.
View The Five Stocks Here
Which stocks are likely to thrive in today's challenging market? Enter your email address and we'll send you MarketBeat's list of ten stocks that will drive in any economic environment.
Get This Free Report
Like this article? Share it with a colleague.
Link copied to clipboard.
