Roth Capital Issues Pessimistic Forecast for JinkoSolar (NYSE:JKS) Stock Price

Key Points

• Roth Capital cut JinkoSolar’s price target from $16 to $10 and maintained a “neutral” rating, implying about 8.19% upside from the stock’s $9.24 price.
• Analyst sentiment is mixed but generally cautious: JinkoSolar has an average “Hold” rating and an average price target of $18.38, with ratings ranging from Strong Buy to Strong Sell.
• JinkoSolar reported a quarterly loss of $0.03 per share, beating estimates, but revenue of $2.03 billion fell short of expectations and the company remains unprofitable, with analysts forecasting a full-year loss.

JinkoSolar (NYSE:JKS - Get Free Report) had its target price cut by investment analysts at Roth Capital from $16.00 to $10.00 in a research report issued to clients and investors on Monday, Benzinga reports. The firm presently has a "neutral" rating on the semiconductor company's stock. Roth Capital's price objective would suggest a potential upside of 8.19% from the stock's current price.

A number of other equities research analysts also recently issued reports on the company. The Goldman Sachs Group set a $11.00 price target on JinkoSolar in a research report on Thursday, August 27th. Freedom Broker cut JinkoSolar from a "strong-buy" rating to a "hold" rating in a report on Thursday, August 27th. Weiss Ratings reiterated a "sell (d)" rating on shares of JinkoSolar in a research report on Friday. Zacks Research raised JinkoSolar from a "strong sell" rating to a "hold" rating in a report on Monday, October 26th. Finally, Wall Street Zen cut JinkoSolar from a "sell" rating to a "strong sell" rating in a research report on Monday, October 26th. One equities research analyst has rated the stock with a Strong Buy rating, one has given a Buy rating, four have given a Hold rating and two have given a Sell rating to the stock. Based on data from MarketBeat, the company currently has an average rating of "Hold" and an average price target of $18.38.

JinkoSolar Stock Up 7.1%

Shares of JinkoSolar stock traded up $0.61 on Monday, reaching $9.24. 529,262 shares of the company were exchanged, compared to its average volume of 727,159. The company has a market capitalization of $490.79 million, a price-to-earnings ratio of -1.19 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 has a one year low of $7.82 and a one year high of $31.88. The company has a 50-day moving average of $10.36 and a 200 day moving average of $19.08.

JinkoSolar (NYSE:JKS - Get Free Report) last released its quarterly earnings data on Friday, October 30th. The semiconductor company reported ($0.03) EPS for the quarter, beating the consensus estimate of ($2.11) by $2.08. The firm had revenue of $2.03 billion for the quarter, compared to the consensus estimate of $2.42 billion. JinkoSolar had a negative net margin of 5.04% and a negative return on equity of 8.83%. On average, equities research analysts forecast that JinkoSolar will post -5.63 earnings per share for the current year.

Institutional Investors Weigh In On JinkoSolar

A number of institutional investors have recently added to or reduced their stakes in JKS. Dimensional Fund Advisors LP raised its stake in shares of JinkoSolar by 0.4% during the first quarter. Dimensional Fund Advisors LP now owns 845,017 shares of the semiconductor company's stock valued at $21,449,000 after acquiring an additional 3,118 shares during the last quarter. Hsbc Holdings PLC increased its holdings in JinkoSolar by 355.9% in the first quarter. Hsbc Holdings PLC now owns 189,569 shares of the semiconductor company's stock valued at $4,817,000 after purchasing an additional 147,992 shares during the period. Himension Capital Singapore PTE. LTD. raised its position in 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 purchasing an additional 3,961 shares during the last quarter. Renaissance Technologies LLC raised its position 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 purchasing an additional 40,300 shares during the last quarter. Finally, Engineers Gate Manager LP bought a new position in JinkoSolar during the 2nd quarter worth $298,000. 35.82% of the stock is owned by 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.

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