Glj Research Issues Pessimistic Forecast for JinkoSolar (NYSE:JKS) Stock Price

Key Points

• GLJ Research cut JinkoSolar’s price target from $12.08 to $5.27 and maintained a “sell” rating, implying 51.27% downside from the current share price.
• Analyst views are mixed: the consensus rating is “hold,” with an average price target of $14.35; ratings range from strong buy to sell.
• JinkoSolar reported a quarterly loss of $0.03 per share, better than the expected $2.11 loss, but revenue of $2.03 billion fell short of the $2.42 billion estimate.

JinkoSolar (NYSE:JKS - Get Free Report) had its target price decreased by research analysts at Glj Research from $12.08 to $5.27 in a research report issued to clients and investors on Tuesday, Benzinga reports. The brokerage currently has a "sell" rating on the semiconductor company's stock. Glj Research's price objective suggests a potential downside of 51.27% from the company's current price.

Several other analysts have also commented on JKS. Roth Capital decreased their price target on JinkoSolar from $16.00 to $10.00 and set a "neutral" rating on the stock in a research note on Monday, November 2nd. UBS Group upgraded JinkoSolar from a "neutral" rating to a "buy" rating and dropped their price objective for the stock from $24.00 to $17.00 in a research note on Friday. Wall Street Zen upgraded JinkoSolar from a "strong sell" rating to a "hold" rating in a research note on Saturday. Weiss Ratings reissued a "sell (d)" rating on shares of JinkoSolar in a report on Friday, October 30th. Finally, The Goldman Sachs Group set a $11.00 target price on shares of JinkoSolar in a research note on Thursday, August 27th. One investment analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating, two have issued a Hold rating and three have given a Sell rating to the company's stock. According to MarketBeat.com, the company has a consensus rating of "Hold" and an average target price of $14.35.

JinkoSolar Price Performance

Shares of JinkoSolar stock opened at $10.81 on Tuesday. The firm has a market cap of $574.28 million, a P/E ratio of -1.39 and a beta of 0.39. The firm's 50-day simple moving average is $9.83 and its 200-day simple moving average is $18.55. JinkoSolar has a twelve month low of $7.82 and a twelve month high of $31.88. The company has a debt-to-equity ratio of 1.10, a quick ratio of 0.84 and a current ratio of 1.13.

JinkoSolar (NYSE:JKS - Get Free Report) last posted its quarterly earnings results on Friday, October 30th. The semiconductor company reported ($0.03) earnings per share (EPS) for the quarter, topping the consensus estimate of ($2.11) by $2.08. JinkoSolar had a negative net margin of 5.04% and a negative return on equity of 8.83%. The firm had revenue of $2.03 billion during the quarter, compared to analyst estimates of $2.42 billion. As a group, research analysts expect that JinkoSolar will post -4.95 EPS for the current fiscal year.

Institutional Investors Weigh In On JinkoSolar

Hedge funds and other institutional investors have recently bought and sold shares of the business. Hsbc Holdings PLC grew its holdings in JinkoSolar by 355.9% during the 1st quarter. Hsbc Holdings PLC now owns 189,569 shares of the semiconductor company's stock worth $4,817,000 after acquiring an additional 147,992 shares during the last quarter. Renaissance Technologies LLC grew its holdings in JinkoSolar by 96.2% during the 1st quarter. Renaissance Technologies LLC now owns 82,200 shares of the semiconductor company's stock worth $2,089,000 after acquiring an additional 40,300 shares during the period. Aberdeen Group plc acquired a new stake in shares of JinkoSolar during the third quarter worth $275,000. Engineers Gate Manager LP bought a new stake in shares of JinkoSolar in the 2nd quarter valued at about $298,000. Finally, Cetera Investment Advisers acquired a new position in JinkoSolar during the first quarter valued at approximately $307,000. 35.82% of the stock is owned by institutional investors and hedge funds.

JinkoSolar Company Profile

JinkoSolar Holding Co, Ltd. is a global solar photovoltaic (PV) manufacturer that develops and produces products used to convert sunlight into electricity. The company's portfolio includes silicon wafers, solar cells, PV modules and related energy-storage products, serving utility-scale solar projects as well as commercial, industrial and residential customers.

Founded in 2006, JinkoSolar has developed a vertically integrated manufacturing business spanning much of the solar supply chain.

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