JinkoSolar Holding Co., Ltd. (NYSE:JKS) Given Consensus Recommendation of “Reduce” by Brokerages

JinkoSolar Holding Co., Ltd. (NYSE:JKS) has received a consensus recommendation of “Reduce” from the seven analysts that are presently covering the stock, MarketBeat reports. Three analysts have rated the stock with a sell recommendation, three have issued a hold recommendation and one has assigned a buy recommendation to the company. The average 1 year price objective among analysts that have issued a report on the stock in the last year is $28.79.

Several research firms have issued reports on JKS. Glj Research cut their price objective on JinkoSolar from $13.08 to $10.95 and set a “sell” rating for the company in a report on Thursday, January 23rd. Daiwa Capital Markets downgraded shares of JinkoSolar from an “underperform” rating to a “sell” rating in a report on Friday, January 10th. Finally, Jefferies Financial Group upped their price objective on shares of JinkoSolar from $36.00 to $65.00 and gave the stock a “buy” rating in a research note on Thursday, December 5th.

Institutional Trading of JinkoSolar

Several hedge funds have recently modified their holdings of JKS. State Street Corp lifted its holdings in JinkoSolar by 10.7% during the 3rd quarter. State Street Corp now owns 696,763 shares of the semiconductor company’s stock worth $18,687,000 after buying an additional 67,223 shares in the last quarter. SG Americas Securities LLC acquired a new position in shares of JinkoSolar during the fourth quarter valued at $1,435,000. Millennium Management LLC boosted its holdings in JinkoSolar by 2,305.1% in the second quarter. Millennium Management LLC now owns 168,911 shares of the semiconductor company’s stock valued at $3,500,000 after acquiring an additional 161,888 shares during the last quarter. Verition Fund Management LLC acquired a new stake in JinkoSolar in the third quarter worth about $682,000. Finally, Geode Capital Management LLC raised its holdings in JinkoSolar by 19.7% during 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 last quarter. 35.82% of the stock is owned by institutional investors.

JinkoSolar Trading Up 5.9 %

Shares of JKS opened at $22.97 on Friday. The company has a current ratio of 1.22, a quick ratio of 0.97 and a debt-to-equity ratio of 0.81. The stock has a market cap of $1.22 billion, a PE ratio of 38.94 and a beta of 0.27. JinkoSolar has a 1 year low of $16.70 and a 1 year high of $37.36. The stock has a 50 day simple moving average of $23.79 and a 200-day simple moving average of $22.46.

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.