Mackenzie Financial Corp Sells 319,369 Shares of JinkoSolar Holding Co., Ltd. (NYSE:JKS)

Mackenzie Financial Corp reduced its stake in JinkoSolar Holding Co., Ltd. (NYSE:JKS - Free Report) by 11.0% during the fourth quarter, according to its most recent filing with the SEC. The fund owned 2,588,308 shares of the semiconductor company's stock after selling 319,369 shares during the quarter. Mackenzie Financial Corp owned 4.87% of JinkoSolar worth $64,449,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. CANADA LIFE ASSURANCE Co purchased a new position in shares of JinkoSolar in the 4th quarter worth about $55,000. Barclays PLC lifted its holdings in JinkoSolar by 30.2% during the third quarter. Barclays PLC now owns 2,318 shares of the semiconductor company's stock valued at $62,000 after purchasing an additional 537 shares during the last quarter. SBI Securities Co. Ltd. purchased a new stake in JinkoSolar during the fourth quarter valued at about $119,000. New York State Common Retirement Fund purchased a new stake in JinkoSolar during the fourth quarter valued at about $132,000. Finally, Jump Financial LLC purchased a new stake in JinkoSolar during the fourth quarter valued at about $200,000. 35.82% of the stock is owned by hedge funds and other institutional investors.

JinkoSolar Price Performance

Shares of JinkoSolar stock traded down $0.41 on Friday, reaching $17.94. The stock had a trading volume of 132,228 shares, compared to its average volume of 1,043,585. JinkoSolar Holding Co., Ltd. has a 1 year low of $13.42 and a 1 year high of $37.36. The company has a market cap of $921.65 million, a P/E ratio of 30.45 and a beta of 0.16. 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 business's 50 day moving average is $17.64 and its two-hundred day moving average is $21.33.

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

Analyst Ratings Changes

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

JinkoSolar Company 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.