JinkoSolar (NYSE:JKS) Given New $18.00 Price Target at The Goldman Sachs Group

JinkoSolar (NYSE:JKS) had its price target reduced by investment analysts at The Goldman Sachs Group from $20.00 to $18.00 in a research note issued on Thursday,Benzinga reports. The brokerage presently has a “sell” rating on the semiconductor company’s stock. The Goldman Sachs Group’s price target would indicate a potential downside of 10.65% from the company’s previous close.

Several other equities analysts also recently commented on the company. UBS Group lowered their price target on JinkoSolar from $25.00 to $22.00 and set a “neutral” rating on the stock in a report on Thursday. Daiwa Capital Markets downgraded shares of JinkoSolar from an “underperform” rating to a “sell” rating in a report on Friday, January 10th. Glj Research cut their price objective on shares of JinkoSolar from $13.08 to $10.95 and set a “sell” rating for the company in a research report on Thursday, January 23rd. Finally, Jefferies Financial Group lifted their target price on JinkoSolar from $36.00 to $65.00 and gave the stock a “buy” rating in a research report on Thursday, December 5th. Three analysts have rated the stock with a sell rating, three have assigned a hold rating and one has assigned a buy rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and an average target price of $27.19.

JinkoSolar Trading Down 1.9 %

NYSE JKS traded down $0.39 on Thursday, hitting $20.15. 362,746 shares of the stock were exchanged, compared to its average volume of 1,018,694. JinkoSolar has a 52-week low of $16.70 and a 52-week high of $37.36. The company has a market capitalization of $1.07 billion, a price-to-earnings ratio of 34.18 and a beta of 0.40. The company has a debt-to-equity ratio of 0.81, a current ratio of 1.22 and a quick ratio of 0.97. The company’s 50-day moving average price is $21.85 and its two-hundred day moving average price is $23.15.

Institutional Trading of JinkoSolar

Hedge funds have recently modified their holdings of the stock. Barclays PLC lifted its holdings in JinkoSolar by 30.2% during the 3rd quarter. Barclays PLC now owns 2,318 shares of the semiconductor company’s stock worth $62,000 after buying an additional 537 shares in the last quarter. CoreCommodity Management LLC lifted its stake in shares of JinkoSolar by 1.1% during the fourth quarter. CoreCommodity Management LLC now owns 61,559 shares of the semiconductor company’s stock valued at $1,533,000 after acquiring an additional 640 shares during the period. Mitsubishi UFJ Asset Management Co. Ltd. boosted its holdings in JinkoSolar by 5.3% in the fourth quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 20,289 shares of the semiconductor company’s stock valued at $532,000 after acquiring an additional 1,028 shares during the last quarter. Daiwa Securities Group Inc. increased its position in JinkoSolar by 15.8% in the third quarter. Daiwa Securities Group Inc. now owns 8,800 shares of the semiconductor company’s stock worth $236,000 after purchasing an additional 1,200 shares during the period. Finally, CANADA LIFE ASSURANCE Co bought a new stake in JinkoSolar during the 4th quarter worth about $55,000. 35.82% of the stock is owned by institutional investors.

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.