JinkoSolar (NYSE:JKS) Lowered to “Sell” Rating by Daiwa Capital Markets

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

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

JinkoSolar Stock Performance

Shares of JKS stock opened at $24.78 on Friday. The company’s fifty day simple moving average is $24.82 and its 200-day simple moving average is $22.44. 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 firm has a market cap of $1.32 billion, a PE ratio of 42.00 and a beta of 0.30. JinkoSolar has a 12 month low of $16.70 and a 12 month high of $37.36.

Hedge Funds Weigh In On JinkoSolar

Large investors have recently modified their holdings of the stock. Mackenzie Financial Corp raised its position in shares of JinkoSolar by 1.8% in the second quarter. Mackenzie Financial Corp now owns 2,572,177 shares of the semiconductor company’s stock valued at $53,296,000 after purchasing an additional 44,661 shares during the period. Marshall Wace LLP raised its position in shares of JinkoSolar by 49.5% in the second quarter. Marshall Wace LLP now owns 447,709 shares of the semiconductor company’s stock valued at $9,277,000 after purchasing an additional 148,268 shares during the period. State Street Corp raised its position in shares of 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. Millennium Management LLC raised its position in shares of 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 purchasing an additional 161,888 shares during the period. Finally, Decade Renewable Partners LP bought a new position in JinkoSolar during the second quarter worth about $4,272,000. 35.82% of the stock is owned by institutional investors.

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.