JinkoSolar (NYSE:JKS) Downgraded by StockNews.com to Sell

StockNews.com cut shares of JinkoSolar (NYSE:JKS - Free Report) from a hold rating to a sell rating in a research note released on Wednesday morning.

Other equities research analysts also recently issued reports about the stock. Roth Mkm restated a neutral rating and issued a $25.00 target price (down from $50.00) on shares of JinkoSolar in a report on Thursday, March 21st. HSBC restated a hold rating and issued a $30.00 target price on shares of JinkoSolar in a report on Monday, February 5th. Daiwa Capital Markets downgraded shares of JinkoSolar from an outperform rating to a neutral rating and set a $25.00 target price for the company. in a report on Monday, February 5th. The Goldman Sachs Group reduced their price target on shares of JinkoSolar from $26.00 to $23.00 and set a sell rating on the stock in a research report on Thursday, April 11th. Finally, Roth Capital cut shares of JinkoSolar from a buy rating to a neutral rating in a research report on Thursday, March 21st. Two analysts have rated the stock with a sell rating and five have given a hold rating to the stock. According to MarketBeat, the stock has a consensus rating of Hold and a consensus target price of $26.60.

JinkoSolar Trading Down 3.6 %

Shares of NYSE JKS traded down $0.82 during midday trading on Wednesday, reaching $21.69. 1,279,865 shares of the stock were exchanged, compared to its average volume of 934,741. The company has a market capitalization of $1.14 billion, a P/E ratio of 2.76 and a beta of 0.37. JinkoSolar has a 52-week low of $21.25 and a 52-week high of $50.60. The company has a current ratio of 1.04, a quick ratio of 0.81 and a debt-to-equity ratio of 0.52. The stock has a 50 day moving average price of $25.54 and a 200-day moving average price of $29.41.

JinkoSolar (NYSE:JKS - Get Free Report) last released its earnings results on Wednesday, March 20th. The semiconductor company reported $1.21 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $2.32 by ($1.11). JinkoSolar had a net margin of 2.89% and a return on equity of 11.85%. The company had revenue of $4.62 billion during the quarter, compared to analysts' expectations of $4.08 billion. Equities research analysts expect that JinkoSolar will post 5.27 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. JPMorgan Chase & Co. lifted its position in shares of JinkoSolar by 1,240.7% during the first quarter. JPMorgan Chase & Co. now owns 100,456 shares of the semiconductor company's stock worth $4,851,000 after purchasing an additional 92,963 shares in the last quarter. American Century Companies Inc. lifted its position in shares of JinkoSolar by 8.0% during the first quarter. American Century Companies Inc. now owns 13,426 shares of the semiconductor company's stock worth $648,000 after purchasing an additional 991 shares in the last quarter. BlackRock Inc. lifted its position in shares of JinkoSolar by 16.2% during the first quarter. BlackRock Inc. now owns 2,632,512 shares of the semiconductor company's stock worth $127,123,000 after purchasing an additional 366,251 shares in the last quarter. Cibc World Market Inc. acquired a new position in shares of JinkoSolar during the first quarter worth $221,000. Finally, Allianz Asset Management GmbH lifted its position in shares of JinkoSolar by 1.0% during the first quarter. Allianz Asset Management GmbH now owns 1,131,353 shares of the semiconductor company's stock worth $54,633,000 after purchasing an additional 11,700 shares in the last quarter. 35.82% of the stock is owned by institutional investors and hedge funds.

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; and develops commercial solar power projects.