JinkoSolar (NYSE:JKS) Cut to “Sell” at Daiwa Capital Markets

Daiwa Capital Markets lowered shares of JinkoSolar (NYSE:JKS) from an underperform rating to a sell rating in a report issued on Friday, Marketbeat Ratings reports.

A number of other brokerages also recently issued reports on JKS. Jefferies Financial Group increased 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. StockNews.com upgraded shares of JinkoSolar from a “sell” rating to a “hold” rating in a research note on Wednesday, September 18th. Two analysts have rated the stock with a sell rating, five have assigned a hold rating and one has assigned a buy rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus target price of $31.33.

JinkoSolar Price Performance

NYSE:JKS opened at $24.78 on Friday. JinkoSolar has a 52 week low of $16.70 and a 52 week high of $37.36. The firm has a market cap of $1.32 billion, a price-to-earnings ratio of 42.00 and a beta of 0.30. The firm’s 50-day simple moving average is $24.82 and its 200 day simple moving average is $22.44. The company has a debt-to-equity ratio of 0.81, a quick ratio of 0.97 and a current ratio of 1.22.

Institutional Investors Weigh In On JinkoSolar

Hedge funds have recently made changes to their positions in the stock. Signaturefd LLC boosted its stake in shares of JinkoSolar by 108.0% in the 3rd quarter. Signaturefd LLC now owns 1,246 shares of the semiconductor company’s stock valued at $33,000 after purchasing an additional 647 shares in the last quarter. Barclays PLC raised its holdings in JinkoSolar by 30.2% in the 3rd 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 last quarter. Headlands Technologies LLC raised its holdings in JinkoSolar by 607.7% in the 2nd quarter. Headlands Technologies LLC now owns 4,048 shares of the semiconductor company’s stock valued at $84,000 after buying an additional 3,476 shares during the last quarter. Banque Cantonale Vaudoise raised its holdings in JinkoSolar by 198.1% in the 3rd quarter. Banque Cantonale Vaudoise now owns 7,923 shares of the semiconductor company’s stock valued at $212,000 after buying an additional 5,265 shares during the last quarter. Finally, Daiwa Securities Group Inc. raised its holdings in JinkoSolar by 15.8% in the 3rd quarter. Daiwa Securities Group Inc. now owns 8,800 shares of the semiconductor company’s stock valued at $236,000 after buying an additional 1,200 shares during the last quarter. 35.82% of the stock is currently owned by institutional investors and hedge funds.

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.