JinkoSolar (NYSE:JKS) Stock Rating Upgraded by Wall Street Zen

Key Points

• Wall Street Zen upgraded JinkoSolar from “strong sell” to “hold.” The broader analyst consensus is also “hold,” with an average price target of $16.62.
• Analyst views remain mixed: UBS raised its rating to “buy” but cut its target to $17, while Roth Capital lowered its target to $10 and kept a “neutral” rating.
• JinkoSolar beat quarterly earnings-per-share estimates, reporting a loss of $0.03 versus the expected $2.11 loss, but revenue of $2.03 billion fell short of the $2.42 billion forecast.

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

JKS has been the topic of several other research reports. UBS Group raised shares of JinkoSolar from a "neutral" rating to a "buy" rating and lowered their target price for the stock from $24.00 to $17.00 in a report on Friday. Roth Capital decreased their price target on shares of JinkoSolar from $16.00 to $10.00 and set a "neutral" rating for the company in a research note on Monday, November 2nd. Weiss Ratings reiterated a "sell (d)" rating on shares of JinkoSolar in a report on Friday, October 30th. Zacks Research upgraded shares of JinkoSolar from a "strong sell" rating to a "hold" rating in a research report on Monday, October 26th. Finally, Freedom Broker upgraded shares of JinkoSolar from a "hold" rating to a "buy" rating in a research note on Tuesday. One investment analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating, two have assigned a Hold rating and two have issued a Sell rating to the company's stock. According to data from MarketBeat, the company currently has a consensus rating of "Hold" and a consensus price target of $16.62.

JinkoSolar Stock Performance

Shares of NYSE JKS opened at $10.99 on Friday. The company has a debt-to-equity ratio of 1.10, a quick ratio of 0.84 and a current ratio of 1.13. The business's 50-day simple moving average is $9.89 and its 200-day simple moving average is $18.62. The firm has a market cap of $583.52 million, a price-to-earnings ratio of -1.41 and a beta of 0.39. JinkoSolar has a 52 week low of $7.82 and a 52 week high of $31.88.

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 for the quarter, beating analysts' consensus estimates of ($2.11) by $2.08. The business had revenue of $2.03 billion for the quarter, compared to analysts' expectations of $2.42 billion. JinkoSolar had a negative return on equity of 8.83% and a negative net margin of 5.04%. As a group, equities research analysts expect that JinkoSolar will post -4.95 earnings per share for the current fiscal year.

Hedge Funds Weigh In On JinkoSolar

Hedge funds have recently added to or reduced their stakes in the company. Dimensional Fund Advisors LP raised its position in JinkoSolar by 0.4% during the 1st quarter. Dimensional Fund Advisors LP now owns 845,017 shares of the semiconductor company's stock valued at $21,449,000 after purchasing an additional 3,118 shares in the last quarter. Himension Capital Singapore PTE. LTD. lifted its stake in shares of 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 buying an additional 3,961 shares during the period. Cetera Investment Advisers acquired a new position in JinkoSolar during the 1st quarter worth approximately $307,000. Engineers Gate Manager LP acquired a new position in JinkoSolar in the second quarter worth $298,000. Finally, Aberdeen Group plc acquired a new stake in shares of JinkoSolar in the 3rd quarter worth approximately $275,000. 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.