JinkoSolar (NYSE:JKS) Cut to "Strong Sell" at Wall Street Zen

Key Points

• Wall Street Zen downgraded JinkoSolar to “Strong Sell” from “Sell,” while the broader analyst consensus remains “Hold” with an average price target of $19.88.
• JinkoSolar’s latest quarterly results missed expectations significantly, reporting a loss of $2.53 per share versus the $0.75 consensus estimate and revenue of $1.82 billion against $2.17 billion expected.
• The stock opened at $8.88, near its 52-week low of $8.44, and analysts expect a full-year loss of approximately $5.63 per share; institutional investors own 35.82% of the company.

JinkoSolar (NYSE:JKS - Get Free Report) was downgraded by Wall Street Zen from a "sell" rating to a "strong sell" rating in a research report issued on Saturday, Wall Street Zen reports.

Several other analysts have also recently commented on JKS. Zacks Research downgraded JinkoSolar from a "hold" rating to a "strong sell" rating in a report on Thursday, September 3rd. Roth Capital reduced their price objective on JinkoSolar from $25.00 to $16.00 and set a "neutral" rating for the company in a research note on Thursday, August 27th. The Goldman Sachs Group set a $11.00 price objective on JinkoSolar in a research report on Thursday, August 27th. Weiss Ratings reaffirmed a "sell (d)" rating on shares of JinkoSolar in a research note on Monday, August 3rd. Finally, Freedom Broker lowered shares of JinkoSolar from a "strong-buy" rating to a "hold" rating in a research note on Thursday, August 27th. One investment analyst has rated the stock with a Strong Buy rating, one has issued a Buy rating, three have issued a Hold rating and three have issued a Sell rating to the company's stock. Based on data from MarketBeat.com, the company has an average rating of "Hold" and an average target price of $19.88.

JinkoSolar Price Performance

NYSE JKS opened at $8.88 on Friday. JinkoSolar has a 1 year low of $8.44 and a 1 year high of $31.88. The stock's 50-day moving average price is $12.71 and its two-hundred day moving average price is $17.82. The company has a market cap of $465.26 million, a PE ratio of -0.95 and a beta of 0.52. The company has a current ratio of 1.13, a quick ratio of 0.84 and a debt-to-equity ratio of 1.10.

JinkoSolar (NYSE:JKS - Get Free Report) last released its earnings results on Wednesday, August 26th. The semiconductor company reported ($2.53) earnings per share for the quarter, missing the consensus estimate of ($0.75) by ($1.78). The firm had revenue of $1.82 billion during the quarter, compared to analysts' expectations of $2.17 billion. JinkoSolar had a negative return on equity of 10.03% and a negative net margin of 5.85%. On average, analysts predict that JinkoSolar will post -5.63 EPS for the current year.

Institutional Trading of JinkoSolar

Institutional investors and hedge funds have recently made changes to their positions in the stock. Banque Cantonale Vaudoise raised its stake in shares of JinkoSolar by 37.5% in the 1st quarter. Banque Cantonale Vaudoise now owns 3,079 shares of the semiconductor company's stock valued at $78,000 after acquiring an additional 839 shares in the last quarter. Cetera Investment Advisers bought a new stake in JinkoSolar during the first quarter worth approximately $307,000. Engineers Gate Manager LP bought a new stake in JinkoSolar during the second quarter worth approximately $298,000. Renaissance Technologies LLC grew its holdings in JinkoSolar by 96.2% during the first quarter. Renaissance Technologies LLC now owns 82,200 shares of the semiconductor company's stock valued at $2,089,000 after purchasing an additional 40,300 shares during the last quarter. Finally, Himension Capital Singapore PTE. LTD. grew its holdings in JinkoSolar by 5.1% during the first quarter. Himension Capital Singapore PTE. LTD. now owns 82,319 shares of the semiconductor company's stock valued at $2,092,000 after purchasing an additional 3,961 shares during the last quarter. Institutional investors and hedge funds own 35.82% of the company's stock.

About JinkoSolar

JinkoSolar Holding Co, Ltd. is a global solar photovoltaic (PV) manufacturer that develops, produces and sells solar products for utility-scale, commercial, industrial and residential applications. The company's product portfolio includes silicon wafers, solar cells, PV modules and related energy-storage solutions.

JinkoSolar is known for its n-type TOPCon-based Tiger Neo module series, which is designed to deliver high power output and efficiency. Its products are used in ground-mounted solar power plants as well as distributed-generation systems installed on commercial, industrial and residential properties.

Founded in 2006, JinkoSolar serves customers in China and international markets across Asia-Pacific, Europe, the Middle East, Africa and the Americas.

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