JinkoSolar (JKS) Projected to Post Earnings on Friday

Key Points

• JinkoSolar is expected to report earnings of ($2.67) per share and revenue of $2.6619 billion on Friday, September 26th.
• Analysts have downgraded JinkoSolar's stock from a "hold" rating to a "sell" rating, with a current average rating of "Reduce" and a target price of $28.99.
• Institutional investors hold 35.82% of JinkoSolar's stock, with notable increases in holdings from firms such as JPMorgan Chase & Co., which grew its position by 7,759.6%.

JinkoSolar (NYSE:JKS - Get Free Report) is expected to be posting its results before the market opens on Friday, September 26th. Analysts expect JinkoSolar to post earnings of ($2.67) per share and revenue of $2.6619 billion for the quarter.

JinkoSolar Stock Performance

JinkoSolar stock opened at $25.17 on Tuesday. The company has a current ratio of 1.33, a quick ratio of 1.07 and a debt-to-equity ratio of 1.11. The firm has a 50-day moving average of $23.42 and a 200-day moving average of $20.75. The firm has a market cap of $1.30 billion, a P/E ratio of -5.01 and a beta of 0.13. JinkoSolar has a 1-year low of $13.42 and a 1-year high of $37.36.

Analyst Ratings Changes

Separately, Wall Street Zen lowered shares of JinkoSolar from a "hold" rating to a "sell" rating in a report on Saturday. One investment analyst has rated the stock with a Buy rating, one has given a Hold rating and four have given a Sell rating to the company's stock. According to data from MarketBeat.com, JinkoSolar presently has an average rating of "Reduce" and a consensus target price of $28.99.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently bought and sold shares of the company. Raymond James Financial Inc. bought a new stake in shares of JinkoSolar during the 2nd quarter worth about $47,000. Geode Capital Management LLC grew its position in JinkoSolar by 9.9% during the 2nd quarter. Geode Capital Management LLC now owns 37,671 shares of the semiconductor company's stock worth $799,000 after acquiring an additional 3,394 shares during the last quarter. Finally, JPMorgan Chase & Co. grew its holdings in shares of JinkoSolar by 7,759.6% in the 2nd quarter. JPMorgan Chase & Co. now owns 11,082 shares of the semiconductor company's stock valued at $235,000 after acquiring an additional 10,941 shares in the last quarter. Hedge funds and other institutional investors own 35.82% of the company's stock.

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.

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