Mackenzie Financial Corp Sells 716,030 Shares of JinkoSolar Holding Company Limited $JKS

Key Points

• Mackenzie Financial Corp cut its JinkoSolar stake by 34.5%, selling 716,030 shares and now holds 1,361,478 shares (about 2.64% of the company) valued at roughly $32.7 million.
• Analyst sentiment is generally negative — the stock carries an average "Reduce" rating with a $22.33 target — while JinkoSolar trades near $25.77, has a $1.33 billion market cap and a negative PE of -2.82.

Mackenzie Financial Corp cut its holdings in shares of JinkoSolar Holding Company Limited (NYSE:JKS - Free Report) by 34.5% during the 3rd quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 1,361,478 shares of the semiconductor company's stock after selling 716,030 shares during the quarter. Mackenzie Financial Corp owned 2.64% of JinkoSolar worth $32,716,000 at the end of the most recent quarter.

Other hedge funds have also recently made changes to their positions in the company. Mitsubishi UFJ Asset Management Co. Ltd. boosted its stake in shares of JinkoSolar by 18.2% in the 2nd quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 23,449 shares of the semiconductor company's stock valued at $498,000 after purchasing an additional 3,608 shares in the last quarter. Geode Capital Management LLC raised its position in JinkoSolar by 9.9% in the 2nd quarter. Geode Capital Management LLC now owns 37,671 shares of the semiconductor company's stock worth $799,000 after purchasing an additional 3,394 shares during the period. MTM Investment Management LLC bought a new stake in JinkoSolar in the second quarter worth $28,000. JPMorgan Chase & Co. boosted its position in JinkoSolar by 7,759.6% during the second quarter. JPMorgan Chase & Co. now owns 11,082 shares of the semiconductor company's stock valued at $235,000 after buying an additional 10,941 shares during the period. Finally, XTX Topco Ltd purchased a new stake in JinkoSolar during the second quarter valued at about $1,160,000. 35.82% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

Several research analysts have recently commented on the company. Weiss Ratings reiterated a "hold (c-)" rating on shares of JinkoSolar in a report on Wednesday, December 24th. UBS Group restated a "neutral" rating on shares of JinkoSolar in a report on Friday, November 28th. Roth Mkm raised their price target on JinkoSolar from $17.00 to $25.00 and gave the stock a "neutral" rating in a research report on Friday, November 21st. Zacks Research cut JinkoSolar from a "strong-buy" rating to a "hold" rating in a research note on Wednesday, February 11th. Finally, The Goldman Sachs Group boosted their price objective on JinkoSolar from $18.00 to $20.00 and gave the company a "sell" rating in a research report on Wednesday, November 19th. Four investment analysts have rated the stock with a Hold rating and two have issued a Sell rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of "Reduce" and an average target price of $22.33.

JinkoSolar Stock Down 0.4%

Shares of NYSE JKS opened at $25.77 on Friday. The firm has a fifty day simple moving average of $26.87 and a two-hundred day simple moving average of $25.77. JinkoSolar Holding Company Limited has a 12 month low of $13.42 and a 12 month high of $31.88. The company has a current ratio of 1.30, a quick ratio of 1.02 and a debt-to-equity ratio of 1.07. The firm has a market capitalization of $1.33 billion, a PE ratio of -2.82 and a beta of 0.55.

JinkoSolar Company Profile

JinkoSolar Holding Co, Ltd. NYSE: JKS is a vertically integrated solar photovoltaic (PV) manufacturer headquartered in Shanghai, China. The company specializes in the design, development and production of high-performance solar modules, silicon wafers, solar cells and related components. Since its founding in 2006, JinkoSolar has become one of the world's largest solar module suppliers, known for delivering reliable products to utility, commercial and residential customers.

JinkoSolar's product portfolio encompasses a broad range of monocrystalline and polycrystalline PV modules, including half-cell, bifacial and high-efficiency Tiger module series.

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