JinkoSolar (NYSE:JKS) Downgraded by Wall Street Zen to Strong Sell

Key Points

• Wall Street Zen downgraded JinkoSolar to “strong sell” from “sell,” adding to increasingly cautious analyst sentiment. MarketBeat reports an average rating of “Hold” and an average price target of $19.88.
• JinkoSolar shares opened at $8.40, near their 12-month low of $7.82 and well below the 12-month high of $31.88. The stock’s 50-day and 200-day moving averages were $11.08 and $16.59, respectively.
• The company reported a significant quarterly loss, with EPS of -$2.53 versus a consensus estimate of -$0.75, while revenue of $1.82 billion also missed the $2.17 billion estimate. Analysts forecast full-year EPS of -$5.63.

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

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

JinkoSolar Trading Down 0.1%

Shares of JKS stock opened at $8.40 on Monday. The company has a market capitalization of $446.25 million, a price-to-earnings ratio of -0.90 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. The firm has a 50-day moving average price of $11.08 and a 200 day moving average price of $16.59. JinkoSolar has a twelve month low of $7.82 and a twelve month high of $31.88.

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

Institutional Investors Weigh In On JinkoSolar

A number of institutional investors have recently bought and sold shares of JKS. Banque Cantonale Vaudoise raised its stake in JinkoSolar by 37.5% during the first quarter. Banque Cantonale Vaudoise now owns 3,079 shares of the semiconductor company's stock worth $78,000 after purchasing an additional 839 shares during the period. Cetera Investment Advisers purchased a new stake in shares of JinkoSolar during the 1st quarter valued at $307,000. Engineers Gate Manager LP acquired a new stake in shares of JinkoSolar during the 2nd quarter worth $298,000. Renaissance Technologies LLC increased its holdings in shares of 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 buying an additional 40,300 shares during the last quarter. Finally, Himension Capital Singapore PTE. LTD. increased its holdings in shares of JinkoSolar by 5.1% during the 1st quarter. Himension Capital Singapore PTE. LTD. now owns 82,319 shares of the semiconductor company's stock worth $2,092,000 after buying an additional 3,961 shares during the last quarter. 35.82% of the stock is currently owned by hedge funds and other institutional investors.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.