Bank of America Corp DE Has $1.26 Million Position in JinkoSolar Holding Co., Ltd. (NYSE:JKS)

Bank of America Corp DE cut its position in shares of JinkoSolar Holding Co., Ltd. (NYSE:JKS - Free Report) by 91.0% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 50,739 shares of the semiconductor company's stock after selling 509,965 shares during the period. Bank of America Corp DE owned about 0.10% of JinkoSolar worth $1,263,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also modified their holdings of JKS. Pictet Asset Management Holding SA acquired a new position in shares of JinkoSolar in the 4th quarter worth approximately $5,948,000. Hsbc Holdings PLC raised 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 worth $2,553,000 after acquiring an additional 24,016 shares in the last quarter. AI Squared Management Ltd acquired a new position in JinkoSolar during the fourth quarter worth $2,336,000. Northern Trust Corp lifted its holdings in shares of JinkoSolar by 58.6% during the fourth quarter. Northern Trust Corp now owns 84,252 shares of the semiconductor company's stock valued at $2,098,000 after acquiring an additional 31,130 shares during the period. Finally, Himension Capital Singapore PTE. LTD. boosted its stake in shares of JinkoSolar by 472.8% in the 4th quarter. Himension Capital Singapore PTE. LTD. now owns 55,175 shares of the semiconductor company's stock valued at $1,374,000 after purchasing an additional 45,542 shares in the last quarter. 35.82% of the stock is currently owned by institutional investors.

JinkoSolar Price Performance

Shares of JKS traded up $0.34 during mid-day trading on Friday, hitting $18.86. 335,172 shares of the company traded hands, compared to its average volume of 1,036,936. The company has a current ratio of 1.22, a quick ratio of 0.97 and a debt-to-equity ratio of 0.81. The stock has a market capitalization of $968.97 million, a price-to-earnings ratio of 31.97 and a beta of 0.16. The business has a 50-day moving average of $17.48 and a 200 day moving average of $21.23. JinkoSolar Holding Co., Ltd. has a one year low of $13.42 and a one year high of $37.36.

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). The firm had revenue of $1.91 billion during the quarter, compared to the consensus estimate of $1.89 billion. JinkoSolar had a net margin of 0.53% and a return on equity of 4.18%. The firm's quarterly revenue was down 39.9% on a year-over-year basis. During the same quarter in the previous year, the business posted $1.34 earnings per share. As a group, equities analysts expect that JinkoSolar Holding Co., Ltd. will post -0.24 earnings per share for the current fiscal year.

Analyst Ratings Changes

JKS has been the subject of a number of recent analyst reports. Citigroup cut shares of JinkoSolar from a "buy" rating to a "sell" rating in a research report on Monday, May 5th. The Goldman Sachs Group dropped their price objective on shares of JinkoSolar from $20.00 to $18.00 and set a "sell" rating for the company in a report on Thursday, March 27th. Finally, UBS Group cut their target price on shares of JinkoSolar from $25.00 to $22.00 and set a "neutral" rating for the company in a research note on Thursday, March 27th. Four research analysts have rated the stock with a sell rating, three have assigned a hold rating and one has issued a buy rating to the company's stock. According to data from MarketBeat, JinkoSolar has an average rating of "Hold" and an average target price of $27.19.

About JinkoSolar

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.