JinkoSolar (NYSE:JKS) Downgraded to Sell Rating by Citigroup

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

Other research analysts have also recently issued research reports about the company. Glj Research dropped their price target on JinkoSolar from $13.08 to $10.95 and set a "sell" rating on the stock in a report on Thursday, January 23rd. UBS Group reduced their target price on JinkoSolar from $25.00 to $22.00 and set a "neutral" rating for the company in a report on Thursday, March 27th. 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 note on Thursday, March 27th. Finally, Daiwa Capital Markets lowered shares of JinkoSolar from an "underperform" rating to a "sell" rating in a research note on Friday, January 10th. Four investment analysts have rated the stock with a sell rating, three have given a hold rating and one has given a buy rating to the company's stock. According to MarketBeat, the stock presently has an average rating of "Hold" and an average target price of $27.19.

JinkoSolar Stock Performance

Shares of NYSE:JKS traded up $0.25 on Monday, hitting $18.88. The company's stock had a trading volume of 399,713 shares, compared to its average volume of 1,069,050. JinkoSolar has a 12 month low of $13.42 and a 12 month high of $37.36. The stock's 50-day moving average is $18.63 and its two-hundred day moving average is $21.91. The company has a debt-to-equity ratio of 0.81, a quick ratio of 0.97 and a current ratio of 1.22. The company has a market capitalization of $970.00 million, a price-to-earnings ratio of 32.00 and a beta of 0.16.

JinkoSolar (NYSE:JKS - Get Free Report) last issued 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). JinkoSolar had a net margin of 0.53% and a return on equity of 4.18%. The firm had revenue of $1.91 billion for the quarter, compared to the consensus estimate of $1.89 billion. During the same period in the previous year, the business posted $1.34 earnings per share. The business's revenue for the quarter was down 39.9% compared to the same quarter last year. On average, equities research analysts forecast that JinkoSolar will post -0.24 EPS for the current year.

Hedge Funds Weigh In On JinkoSolar

A number of large investors have recently made changes to their positions in JKS. Barclays PLC grew its position in JinkoSolar by 30.2% during the third quarter. Barclays PLC now owns 2,318 shares of the semiconductor company's stock valued at $62,000 after purchasing an additional 537 shares in the last quarter. CoreCommodity Management LLC grew its holdings in shares of JinkoSolar by 1.1% during the 4th quarter. CoreCommodity Management LLC now owns 61,559 shares of the semiconductor company's stock valued at $1,533,000 after acquiring an additional 640 shares in the last quarter. Mitsubishi UFJ Asset Management Co. Ltd. increased its stake in shares of JinkoSolar by 5.3% in the fourth quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 20,289 shares of the semiconductor company's stock worth $532,000 after acquiring an additional 1,028 shares during the last quarter. Banque Cantonale Vaudoise purchased a new stake in shares of JinkoSolar during the first quarter worth $36,000. Finally, CANADA LIFE ASSURANCE Co acquired a new stake in JinkoSolar during the fourth quarter valued at $55,000. Institutional investors and hedge funds own 35.82% of the company's stock.

JinkoSolar Company 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.