JinkoSolar Holding Co., Ltd. (NYSE:JKS) Receives $24.60 Average Price Target from Analysts

Shares of JinkoSolar Holding Co., Ltd. (NYSE:JKS) have been given an average rating of “Reduce” by the six brokerages that are currently covering the stock, MarketBeat Ratings reports. One equities research analyst has rated the stock with a sell rating and five have given a hold rating to the company. The average 1-year target price among brokers that have issued a report on the stock in the last year is $24.60.

A number of brokerages have weighed in on JKS. The Goldman Sachs Group decreased their target price on JinkoSolar from $21.00 to $18.00 and set a “sell” rating for the company in a research report on Tuesday, September 3rd. StockNews.com raised JinkoSolar from a “sell” rating to a “hold” rating in a research report on Wednesday, September 18th. Finally, Roth Mkm reduced their price target on JinkoSolar from $25.00 to $20.00 and set a “neutral” rating for the company in a research report on Wednesday, September 4th.

Institutional Trading of JinkoSolar

A number of hedge funds have recently modified their holdings of the stock. Signaturefd LLC boosted its position in JinkoSolar by 108.0% during the third quarter. Signaturefd LLC now owns 1,246 shares of the semiconductor company’s stock worth $33,000 after purchasing an additional 647 shares in the last quarter. Green Alpha Advisors LLC raised its holdings in shares of JinkoSolar by 2.1% during the third quarter. Green Alpha Advisors LLC now owns 71,548 shares of the semiconductor company’s stock valued at $1,919,000 after acquiring an additional 1,497 shares during the last quarter. Mackenzie Financial Corp raised its holdings in shares of JinkoSolar by 1.8% during the second quarter. Mackenzie Financial Corp now owns 2,572,177 shares of the semiconductor company’s stock valued at $53,296,000 after acquiring an additional 44,661 shares during the last quarter. Millennium Management LLC raised its holdings in shares of JinkoSolar by 2,305.1% during the second quarter. Millennium Management LLC now owns 168,911 shares of the semiconductor company’s stock valued at $3,500,000 after acquiring an additional 161,888 shares during the last quarter. Finally, Decade Renewable Partners LP acquired a new position in shares of JinkoSolar during the second quarter valued at approximately $4,272,000. Hedge funds and other institutional investors own 35.82% of the company’s stock.

JinkoSolar Price Performance

Shares of JKS stock opened at $24.56 on Friday. JinkoSolar has a 52-week low of $16.70 and a 52-week high of $38.65. 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 firm has a market capitalization of $1.31 billion, a P/E ratio of 41.63 and a beta of 0.44. The stock has a 50 day moving average price of $22.44 and a 200 day moving average price of $22.70.

JinkoSolar (NYSE:JKS) last issued its earnings results on Friday, August 30th. The semiconductor company reported $0.97 earnings per share for the quarter, beating analysts’ consensus estimates of $0.05 by $0.92. The business had revenue of $3.31 billion during the quarter, compared to analyst estimates of $3.85 billion. JinkoSolar had a return on equity of 4.18% and a net margin of 0.53%. As a group, sell-side analysts predict that JinkoSolar will post -0.42 earnings per share for the current year.

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.