JinkoSolar (NYSE:JKS) Stock Rating Upgraded by StockNews.com

JinkoSolar (NYSE:JKS) was upgraded by investment analysts at StockNews.com from a “sell” rating to a “hold” rating in a note issued to investors on Friday.

A number of other research firms also recently weighed in on JKS. The Goldman Sachs Group dropped their target price on JinkoSolar from $26.00 to $23.00 and set a “sell” rating for the company in a research report on Thursday, April 11th. UBS Group dropped their target price on JinkoSolar from $31.00 to $30.00 and set a “neutral” rating for the company in a research report on Thursday, March 21st. Roth Mkm reaffirmed a “neutral” rating and set a $25.00 price objective on shares of JinkoSolar in a research note on Tuesday, April 30th. Roth Capital cut JinkoSolar from a “buy” rating to a “neutral” rating in a research note on Thursday, March 21st. Finally, Daiwa Capital Markets cut JinkoSolar from an “outperform” rating to a “neutral” rating and set a $25.00 price objective for the company. in a research note on Monday, February 5th. One investment analyst has rated the stock with a sell rating and six have issued a hold rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and an average target price of $26.60.

JinkoSolar Trading Up 2.5 %

Shares of JKS opened at $26.18 on Friday. The stock has a fifty day moving average price of $24.91 and a two-hundred day moving average price of $28.92. The company has a debt-to-equity ratio of 0.56, a quick ratio of 0.80 and a current ratio of 1.03. JinkoSolar has a 52-week low of $21.06 and a 52-week high of $48.82. The company has a market cap of $1.37 billion, a price-to-earnings ratio of 4.08 and a beta of 0.38.

JinkoSolar (NYSE:JKS) last issued its quarterly earnings data on Wednesday, March 20th. The semiconductor company reported $1.21 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.32 by ($1.11). JinkoSolar had a net margin of 2.74% and a return on equity of 11.12%. The business had revenue of $4.62 billion during the quarter, compared to the consensus estimate of $4.08 billion. Analysts predict that JinkoSolar will post 3.84 EPS for the current fiscal year.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in JKS. Mackenzie Financial Corp grew its stake in JinkoSolar by 22.6% in the third quarter. Mackenzie Financial Corp now owns 2,678,032 shares of the semiconductor company’s stock valued at $78,895,000 after acquiring an additional 493,976 shares during the period. National Bank of Canada FI grew its stake in JinkoSolar by 494.1% in the fourth quarter. National Bank of Canada FI now owns 284,400 shares of the semiconductor company’s stock valued at $9,948,000 after acquiring an additional 236,526 shares during the period. Healthcare of Ontario Pension Plan Trust Fund boosted its position in shares of JinkoSolar by 44.4% during the third quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 634,700 shares of the semiconductor company’s stock worth $19,276,000 after buying an additional 195,300 shares during the period. Invesco Ltd. boosted its position in shares of JinkoSolar by 10.0% during the third quarter. Invesco Ltd. now owns 1,657,885 shares of the semiconductor company’s stock worth $50,350,000 after buying an additional 150,262 shares during the period. Finally, Trexquant Investment LP boosted its position in shares of JinkoSolar by 257.5% during the third quarter. Trexquant Investment LP now owns 144,230 shares of the semiconductor company’s stock worth $4,380,000 after buying an additional 103,883 shares during the period. 35.82% of the stock is owned by institutional investors and hedge funds.

About JinkoSolar

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.