JinkoSolar (NYSE:JKS) Stock Rating Lowered by Daiwa Capital Markets

JinkoSolar (NYSE:JKS) was downgraded by analysts at Daiwa Capital Markets from an “underperform” rating to a “sell” rating in a research report issued to clients and investors on Friday,Finviz reports.

Several other research firms have also commented on JKS. StockNews.com upgraded shares of JinkoSolar from a “sell” rating to a “hold” rating in a research note on Wednesday, September 18th. Jefferies Financial Group upped their target price on JinkoSolar from $36.00 to $65.00 and gave the company a “buy” rating in a research report on Thursday, December 5th. Two equities research analysts have rated the stock with a sell rating, five have assigned a hold rating and one has given a buy rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Hold” and an average target price of $31.33.

JinkoSolar Stock Down 4.9 %

Shares of JKS stock traded down $1.29 on Friday, hitting $24.82. The stock had a trading volume of 630,045 shares, compared to its average volume of 805,668. The company has a quick ratio of 0.97, a current ratio of 1.22 and a debt-to-equity ratio of 0.81. The company has a market cap of $1.32 billion, a PE ratio of 42.07 and a beta of 0.30. The business has a 50 day moving average price of $24.82 and a 200 day moving average price of $22.44. JinkoSolar has a one year low of $16.70 and a one year high of $37.36.

Institutional Trading of JinkoSolar

Hedge funds have recently modified their holdings of the stock. Barclays PLC increased its holdings in JinkoSolar by 30.2% in 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 in the last quarter. Geode Capital Management LLC raised its holdings in JinkoSolar by 19.7% in the 3rd quarter. Geode Capital Management LLC now owns 44,613 shares of the semiconductor company’s stock worth $1,197,000 after purchasing an additional 7,333 shares during the period. Public Employees Retirement System of Ohio purchased a new position in JinkoSolar during the third quarter worth approximately $928,000. State Street Corp grew its holdings in JinkoSolar by 10.7% in the third quarter. State Street Corp now owns 696,763 shares of the semiconductor company’s stock valued at $18,687,000 after purchasing an additional 67,223 shares during the period. Finally, Verition Fund Management LLC purchased a new stake in shares of JinkoSolar in the third quarter valued at approximately $682,000. Hedge funds and other institutional investors own 35.82% of the company’s stock.

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.