Millennium Management LLC Acquires New Stake in JinkoSolar Holding Co., Ltd. (NYSE:JKS)

Millennium Management LLC acquired a new position in JinkoSolar Holding Co., Ltd. (NYSE:JKS - Free Report) in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund acquired 114,302 shares of the semiconductor company's stock, valued at approximately $2,846,000. Millennium Management LLC owned 0.22% of JinkoSolar at the end of the most recent reporting period.

Several other institutional investors have also recently added to or reduced their stakes in JKS. Pictet Asset Management Holding SA bought a new position in shares of JinkoSolar in the 4th quarter worth about $5,948,000. Balyasny Asset Management L.P. raised its stake in JinkoSolar by 1,592.4% during the fourth quarter. Balyasny Asset Management L.P. now owns 129,385 shares of the semiconductor company's stock worth $3,222,000 after acquiring an additional 121,740 shares during the period. Hsbc Holdings PLC lifted its holdings in JinkoSolar by 30.6% in 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 during the last quarter. AI Squared Management Ltd bought a new position in JinkoSolar in the fourth quarter worth about $2,336,000. Finally, Northern Trust Corp boosted its stake in JinkoSolar by 58.6% in 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. Institutional investors own 35.82% of the company's stock.

Wall Street Analyst Weigh In

A number of analysts have recently weighed in on JKS shares. The Goldman Sachs Group dropped their price target on JinkoSolar from $20.00 to $18.00 and set a "sell" rating on the stock in a research report on Thursday, March 27th. UBS Group dropped their target price on JinkoSolar from $25.00 to $22.00 and set a "neutral" rating on the stock in a research report on Thursday, March 27th. Finally, Citigroup cut JinkoSolar from a "buy" rating to a "sell" rating in a research note on Monday, May 5th. Four equities 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. According to data from MarketBeat.com, the stock presently has a consensus rating of "Hold" and a consensus price target of $27.19.

JinkoSolar Stock Performance

Shares of NYSE JKS traded up $0.01 during midday trading on Wednesday, hitting $18.67. 474,804 shares of the company's stock were exchanged, compared to its average volume of 1,037,728. JinkoSolar Holding Co., Ltd. has a twelve month low of $13.42 and a twelve month high of $37.36. The firm has a market cap of $959.21 million, a P/E ratio of 31.64 and a beta of 0.16. The stock's 50 day moving average price is $17.48 and its 200-day moving average price is $21.25. The company has a debt-to-equity ratio of 0.81, a current ratio of 1.22 and a quick ratio of 0.97.

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

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.