Wall Street Zen Upgrades JinkoSolar (NYSE:JKS) to Hold

Key Points

• JinkoSolar has been upgraded by Wall Street Zen from a "sell" rating to a "hold" rating, indicating a shift in sentiment among analysts.
• Other analysts, including Goldman Sachs, have raised JinkoSolar's target price from $15 to $18, while maintaining a "sell" rating, reflecting mixed opinions on the stock's future.
• Institutional investors have shown increased interest in JinkoSolar, with notable stakes purchased by firms like Greenwoods Asset Management and Invesco, which raised their holdings significantly in the first quarter.

JinkoSolar (NYSE:JKS - Get Free Report) was upgraded by equities researchers at Wall Street Zen from a "sell" rating to a "hold" rating in a research note issued to investors on Saturday.

Other equities analysts have also recently issued reports about the company. The Goldman Sachs Group raised their target price on JinkoSolar from $15.00 to $18.00 and gave the stock a "sell" rating in a report on Wednesday. Weiss Ratings reaffirmed a "sell (d)" rating on shares of JinkoSolar in a report on Wednesday. One equities research analyst has rated the stock with a Buy rating, one has given a Hold rating and five have given a Sell rating to the company. According to MarketBeat, JinkoSolar has a consensus rating of "Strong Sell" and an average price target of $28.99.

JinkoSolar Price Performance

NYSE JKS opened at $22.04 on Friday. The business's fifty day moving average price is $23.76 and its 200-day moving average price is $20.98. The stock has a market capitalization of $1.14 billion, a price-to-earnings ratio of -4.39 and a beta of 0.44. The company has a debt-to-equity ratio of 1.11, a current ratio of 1.33 and a quick ratio of 1.07. JinkoSolar has a 1-year low of $13.42 and a 1-year high of $29.80.

Institutional Investors Weigh In On JinkoSolar

A number of institutional investors have recently bought and sold shares of JKS. Greenwoods Asset Management Hong Kong Ltd. increased its stake in JinkoSolar by 37.0% in the 1st quarter. Greenwoods Asset Management Hong Kong Ltd. now owns 780,933 shares of the semiconductor company's stock worth $14,557,000 after buying an additional 211,000 shares in the last quarter. Invesco Ltd. increased its stake in JinkoSolar by 15.3% in the 1st quarter. Invesco Ltd. now owns 1,418,425 shares of the semiconductor company's stock worth $26,439,000 after buying an additional 187,930 shares in the last quarter. Hussman Strategic Advisors Inc. purchased a new stake in JinkoSolar in the 1st quarter worth $2,349,000. Acadian Asset Management LLC increased its stake in JinkoSolar by 41.2% in the 1st quarter. Acadian Asset Management LLC now owns 387,834 shares of the semiconductor company's stock worth $7,220,000 after buying an additional 113,187 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. purchased a new stake in JinkoSolar in the 1st quarter worth $1,660,000. Hedge funds and other institutional investors 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.

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