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

by · The Markets Daily

JinkoSolar Holding Co., Ltd. (NYSE:JKS – Get Free Report) has been assigned an average recommendation of “Reduce” from the seven ratings firms that are presently covering the firm, Marketbeat reports. Three equities research analysts have rated the stock with a sell rating, three have issued a hold rating and one has issued a buy rating on the company. The average 1 year price objective among brokerages that have updated their coverage on the stock in the last year is $28.79.

Several equities analysts have recently issued reports on JKS shares. Glj Research decreased 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 report on Thursday, December 5th.

Check Out Our Latest Report on JinkoSolar

JinkoSolar Stock Performance

Shares of NYSE JKS opened at $22.06 on Thursday. 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 company has a 50 day simple moving average of $22.65 and a two-hundred day simple moving average of $22.86. JinkoSolar has a 12 month low of $16.70 and a 12 month high of $37.36. The stock has a market cap of $1.17 billion, a price-to-earnings ratio of 37.38 and a beta of 0.40.

Institutional Inflows and Outflows

Institutional investors have recently modified their holdings of the stock. Pictet Asset Management Holding SA purchased a new position in JinkoSolar in the fourth quarter valued at about $5,948,000. Balyasny Asset Management L.P. boosted its holdings in JinkoSolar by 1,592.4% in the fourth quarter. Balyasny Asset Management L.P. now owns 129,385 shares of the semiconductor company’s stock valued at $3,222,000 after acquiring an additional 121,740 shares during the last quarter. Millennium Management LLC acquired a new position in JinkoSolar during the fourth quarter valued at approximately $2,846,000. AI Squared Management Ltd purchased a new stake in JinkoSolar during the 4th quarter worth $2,336,000. Finally, State Street Corp grew its stake 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 buying an additional 67,223 shares in the last quarter. Institutional investors and hedge funds own 35.82% of the company’s stock.

JinkoSolar Company Profile

(Get Free Report

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.

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