Invesco Ltd. Sells 430,003 Shares of JinkoSolar Holding Co., Ltd. (NYSE:JKS)

Invesco Ltd. cut its position in shares of JinkoSolar Holding Co., Ltd. (NYSE:JKS - Free Report) by 25.9% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,230,495 shares of the semiconductor company's stock after selling 430,003 shares during the period. Invesco Ltd. owned 2.32% of JinkoSolar worth $30,639,000 as of its most recent SEC filing.

Several other institutional investors have also made changes to their positions in the company. Pictet Asset Management Holding SA bought a new position in JinkoSolar during the fourth quarter valued at approximately $5,948,000. AI Squared Management Ltd bought a new position in shares of JinkoSolar during the 4th quarter valued at $2,336,000. State Street Corp lifted its stake in shares of JinkoSolar by 10.7% in the 3rd quarter. State Street Corp now owns 696,763 shares of the semiconductor company's stock valued at $18,687,000 after purchasing an additional 67,223 shares during the last quarter. SG Americas Securities LLC bought a new stake in JinkoSolar in the fourth quarter worth $1,435,000. Finally, Himension Capital Singapore PTE. LTD. increased its position in JinkoSolar by 472.8% during the fourth quarter. Himension Capital Singapore PTE. LTD. now owns 55,175 shares of the semiconductor company's stock worth $1,374,000 after buying an additional 45,542 shares during the last quarter. 35.82% of the stock is currently owned by institutional investors and hedge funds.

JinkoSolar Price Performance

JKS traded up $0.65 during midday trading on Wednesday, reaching $17.47. 260,774 shares of the company's stock were exchanged, compared to its average volume of 871,354. JinkoSolar Holding Co., Ltd. has a one year low of $13.42 and a one year high of $37.36. The firm has a market capitalization of $928.62 million, a price-to-earnings ratio of 29.61 and a beta of 0.17. The business has a 50-day simple moving average of $19.96 and a two-hundred day simple moving average of $22.39. The company has a quick ratio of 0.97, a current ratio of 1.22 and a debt-to-equity ratio of 0.81.

JinkoSolar (NYSE:JKS - Get Free Report) last announced its quarterly earnings results on Wednesday, March 26th. The semiconductor company reported ($1.01) EPS for the quarter, missing the consensus estimate of ($0.46) by ($0.55). JinkoSolar had a net margin of 0.53% and a return on equity of 4.18%. The company had revenue of $20.65 billion during the quarter, compared to analyst estimates of $3.38 billion. During the same period in the prior year, the firm earned $0.54 EPS. JinkoSolar's quarterly revenue was down 37.1% compared to the same quarter last year. As a group, research analysts predict that JinkoSolar Holding Co., Ltd. will post -0.24 EPS for the current year.

Analysts Set New Price Targets

JKS has been the subject of several recent analyst reports. The Goldman Sachs Group decreased their price target on JinkoSolar from $20.00 to $18.00 and set a "sell" rating for the company in a research note on Thursday, March 27th. Daiwa Capital Markets downgraded JinkoSolar from an "underperform" rating to a "sell" rating in a report on Friday, January 10th. Glj Research dropped their price target on shares of JinkoSolar from $13.08 to $10.95 and set a "sell" rating on the stock in a research report on Thursday, January 23rd. Finally, UBS Group decreased their price objective on shares of JinkoSolar from $25.00 to $22.00 and set a "neutral" rating for the company in a report on Thursday, March 27th. Three analysts have rated the stock with a sell rating, three have assigned a hold rating and one has assigned a buy rating to the stock. Based on data from MarketBeat.com, JinkoSolar has a consensus rating of "Hold" and an average 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.