Bank of America Corp DE Sells 509,965 Shares of JinkoSolar Holding Co., Ltd. (NYSE:JKS)

Bank of America Corp DE lessened its holdings in shares of JinkoSolar Holding Co., Ltd. (NYSE:JKS - Free Report) by 91.0% in the fourth quarter, according to its most recent filing with the SEC. The firm owned 50,739 shares of the semiconductor company's stock after selling 509,965 shares during the quarter. Bank of America Corp DE owned about 0.10% of JinkoSolar worth $1,263,000 as of its most recent SEC filing.

A number of other institutional investors also recently added to or reduced their stakes in the business. Northern Trust Corp lifted its position in JinkoSolar by 58.6% in the fourth quarter. Northern Trust Corp now owns 84,252 shares of the semiconductor company's stock worth $2,098,000 after purchasing an additional 31,130 shares during the period. Susquehanna Fundamental Investments LLC acquired a new stake in shares of JinkoSolar in the fourth quarter valued at $1,174,000. Hsbc Holdings PLC boosted its stake in JinkoSolar by 30.6% during the fourth quarter. Hsbc Holdings PLC now owns 102,523 shares of the semiconductor company's stock valued at $2,553,000 after buying an additional 24,016 shares in the last quarter. Stifel Financial Corp acquired a new position in JinkoSolar during the fourth quarter worth about $1,197,000. Finally, CANADA LIFE ASSURANCE Co acquired a new position in JinkoSolar during the fourth quarter worth about $55,000. Institutional investors and hedge funds own 35.82% of the company's stock.

JinkoSolar Trading Up 0.9%

JinkoSolar stock traded up $0.18 during midday trading on Monday, reaching $19.11. The stock had a trading volume of 583,311 shares, compared to its average volume of 1,037,196. JinkoSolar Holding Co., Ltd. has a twelve month low of $13.42 and a twelve month high of $37.36. The company has a debt-to-equity ratio of 0.81, a current ratio of 1.22 and a quick ratio of 0.97. The firm has a market cap of $981.56 million, a price-to-earnings ratio of 32.38 and a beta of 0.18. The firm's fifty day simple moving average is $17.48 and its two-hundred day simple moving average is $21.20.

JinkoSolar (NYSE:JKS - Get Free Report) last announced its quarterly earnings data on Tuesday, April 29th. The semiconductor company reported ($2.85) EPS for the quarter, missing analysts' consensus estimates of ($1.45) by ($1.40). JinkoSolar had a return on equity of 4.18% and a net margin of 0.53%. The business had revenue of $1.91 billion for the quarter, compared to analyst estimates of $1.89 billion. During the same quarter in the previous year, the business posted $1.34 earnings per share. The company's revenue was down 39.9% compared to the same quarter last year. Equities analysts anticipate that JinkoSolar Holding Co., Ltd. will post -0.24 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

Several research firms have recently weighed in on JKS. UBS Group reduced their price objective on shares of JinkoSolar from $25.00 to $22.00 and set a "neutral" rating for the company in a research report on Thursday, March 27th. Citigroup cut shares of JinkoSolar from a "buy" rating to a "sell" rating in a report on Monday, May 5th. Finally, The Goldman Sachs Group decreased their price target on shares of JinkoSolar from $20.00 to $18.00 and set a "sell" rating on the stock in a research report on Thursday, March 27th. Four research analysts have rated the stock with a sell rating, three have issued a hold rating and one has assigned a buy rating to the company's stock. According to MarketBeat.com, the stock currently has an average rating of "Hold" and a consensus target price of $27.19.

JinkoSolar Profile

JinkoSolar Holding Co, Ltd., together with its subsidiaries, engages in the design, development, production, and marketing of photovoltaic products. The company offers solar modules, silicon wafers, solar cells, recovered silicon materials, and silicon ingots. It also provides solar system integration services; solar power generation and solar system EPC services; and energy storage system, as well as undertakes solar power projects.