JinkoSolar (NYSE:JKS) Rating Lowered to "Sell" at Citigroup

Citigroup cut shares of JinkoSolar (NYSE:JKS - Free Report) from a buy rating to a sell rating in a report issued on Monday, MarketBeat reports.

A number of other research firms also recently weighed in on JKS. Daiwa Capital Markets downgraded JinkoSolar from an "underperform" rating to a "sell" rating in a research note on Friday, January 10th. The Goldman Sachs Group cut their price objective on shares of JinkoSolar from $20.00 to $18.00 and set a "sell" rating on the stock in a research report on Thursday, March 27th. Glj Research decreased their target price on shares of JinkoSolar from $13.08 to $10.95 and set a "sell" rating for the company in a research report on Thursday, January 23rd. Finally, UBS Group cut 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 analysts have rated the stock with a sell rating, three have given a hold rating and one has issued a buy rating to the company. According to MarketBeat, the stock has an average rating of "Hold" and a consensus target price of $27.19.

JinkoSolar Price Performance

NYSE JKS traded down $0.53 on Monday, reaching $17.43. 113,999 shares of the stock traded hands, compared to its average volume of 1,064,129. 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 has a 12 month low of $13.42 and a 12 month high of $37.36. The company has a market cap of $895.50 million, a price-to-earnings ratio of 29.54 and a beta of 0.16. The firm's fifty day simple moving average is $18.75 and its 200 day simple moving average is $21.93.

JinkoSolar (NYSE:JKS - Get Free Report) last issued its earnings results on Tuesday, April 29th. The semiconductor company reported ($2.85) EPS for the quarter, missing the consensus estimate of ($1.45) by ($1.40). The business had revenue of $1.91 billion during 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 business's quarterly revenue was down 39.9% on a year-over-year basis. During the same period last year, the business earned $1.34 EPS. As a group, research analysts predict that JinkoSolar will post -0.24 EPS for the current fiscal year.

Hedge Funds Weigh In On JinkoSolar

A number of institutional investors have recently modified their holdings of the company. SG Americas Securities LLC acquired a new stake in shares of JinkoSolar in the fourth quarter valued at about $1,435,000. Himension Capital Singapore PTE. LTD. boosted its holdings 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 valued at $1,374,000 after purchasing an additional 45,542 shares in the last quarter. Bank of New York Mellon Corp boosted its stake in JinkoSolar by 245.8% in the 4th quarter. Bank of New York Mellon Corp now owns 41,445 shares of the semiconductor company's stock valued at $1,032,000 after buying an additional 29,459 shares in the last quarter. Pictet Asset Management Holding SA acquired a new position in JinkoSolar during the fourth quarter worth $5,948,000. Finally, Capital Wealth Planning LLC bought a new position in shares of JinkoSolar during the fourth quarter valued at $752,000. 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.