StockNews.com Lowers JinkoSolar (NYSE:JKS) to Sell

JinkoSolar (NYSE:JKS) was downgraded by research analysts at StockNews.com from a “hold” rating to a “sell” rating in a research report issued to clients and investors on Friday.

Several other analysts have also recently commented on JKS. Roth Mkm restated a “neutral” rating and issued a $25.00 target price on shares of JinkoSolar in a research note on Tuesday, April 30th. The Goldman Sachs Group reduced their price objective on shares of JinkoSolar from $26.00 to $23.00 and set a “sell” rating for the company in a research report on Thursday, April 11th. Two research analysts have rated the stock with a sell rating and five have assigned a hold rating to the company. According to MarketBeat.com, JinkoSolar has a consensus rating of “Hold” and an average target price of $26.60.

JinkoSolar Stock Performance

Shares of NYSE:JKS traded down $0.26 during trading on Friday, reaching $19.51. The company had a trading volume of 570,616 shares, compared to its average volume of 869,956. The company has a debt-to-equity ratio of 0.56, a current ratio of 1.03 and a quick ratio of 0.77. The stock’s fifty day moving average price is $22.21 and its 200 day moving average price is $24.50. JinkoSolar has a fifty-two week low of $17.08 and a fifty-two week high of $38.65. The firm has a market capitalization of $1.04 billion, a price-to-earnings ratio of 3.04 and a beta of 0.38.

Hedge Funds Weigh In On JinkoSolar

Several hedge funds have recently bought and sold shares of JKS. National Bank of Canada FI raised its position in JinkoSolar by 494.1% during the fourth quarter. National Bank of Canada FI now owns 284,400 shares of the semiconductor company’s stock worth $9,948,000 after acquiring an additional 236,526 shares during the last quarter. Dimensional Fund Advisors LP raised its position in shares of JinkoSolar by 16.3% during the 4th quarter. Dimensional Fund Advisors LP now owns 661,563 shares of the semiconductor company’s stock worth $24,445,000 after purchasing an additional 92,737 shares during the last quarter. Hsbc Holdings PLC lifted its stake in JinkoSolar by 212.2% in the 4th quarter. Hsbc Holdings PLC now owns 104,000 shares of the semiconductor company’s stock valued at $3,842,000 after buying an additional 70,689 shares in the last quarter. GSA Capital Partners LLP grew its holdings in JinkoSolar by 372.9% during the 1st quarter. GSA Capital Partners LLP now owns 77,349 shares of the semiconductor company’s stock valued at $1,948,000 after buying an additional 60,992 shares during the last quarter. Finally, Boston Partners purchased a new position in JinkoSolar during the first quarter worth $575,000. 35.82% of the stock is owned by hedge funds and other institutional investors.

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.