JinkoSolar Holding Company Limited (NYSE:JKS) Stock Has Average Price Target of $19.88

Key Points

• Analysts have a consensus “Hold” rating on JinkoSolar, with three sells, three holds, one buy and one strong buy. The average 12-month price target is $19.88, though recent targets include Goldman Sachs at $11 and Roth Capital at $16.
• JinkoSolar shares opened at $9.16, near their 52-week low of $9.07 and well below the 52-week high of $31.88. The stock’s 50-day and 200-day moving averages are $13.31 and $18.36, respectively.
• The company reported a quarterly loss of $2.53 per share, missing the $0.75 consensus loss estimate, while revenue of $1.82 billion also fell short of expectations. Hedge funds and other institutional investors own 35.82% of the stock.

Shares of JinkoSolar Holding Company Limited (NYSE:JKS - Get Free Report) have been given an average rating of "Hold" by the eight ratings firms that are presently covering the firm, MarketBeat reports. Three research analysts have rated the stock with a sell rating, three have issued a hold rating, one has assigned a buy rating and one has issued a strong buy rating on the company. The average twelve-month price objective among brokerages that have issued ratings on the stock in the last year is $19.88.

A number of analysts have recently weighed in on JKS shares. Roth Capital cut their price objective on shares of JinkoSolar from $25.00 to $16.00 and set a "neutral" rating on the stock in a research note on Thursday, August 27th. Wall Street Zen downgraded shares of JinkoSolar from a "hold" rating to a "sell" rating in a research report on Saturday, August 29th. Weiss Ratings reaffirmed a "sell (d)" rating on shares of JinkoSolar in a report on Monday, August 3rd. Zacks Research downgraded JinkoSolar from a "hold" rating to a "strong sell" rating in a research report on Thursday, September 3rd. Finally, The Goldman Sachs Group set a $11.00 price objective on JinkoSolar in a research note on Thursday, August 27th.

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of the stock. Banque Cantonale Vaudoise increased 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. Dimensional Fund Advisors LP lifted its position 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 worth $21,449,000 after purchasing an additional 3,118 shares in the last quarter. Himension Capital Singapore PTE. LTD. boosted its stake in shares of JinkoSolar by 5.1% in 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 period. Cetera Investment Advisers purchased a new position in shares of JinkoSolar in the first quarter valued at approximately $307,000. Finally, Engineers Gate Manager LP purchased a new position in shares of JinkoSolar in the second quarter valued at approximately $298,000. 35.82% of the stock is currently owned by hedge funds and other institutional investors.

JinkoSolar Price Performance

Shares of NYSE JKS opened at $9.16 on Friday. The business's 50 day moving average price is $13.31 and its 200 day moving average price is $18.36. The firm has a market cap of $479.92 million, a P/E ratio of -0.98 and a beta of 0.52. JinkoSolar has a 52 week low of $9.07 and a 52 week high of $31.88. The company has a quick ratio of 0.84, a current ratio of 1.13 and a debt-to-equity ratio of 1.10.

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

JinkoSolar Company Profile

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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