JinkoSolar (NYSE:JKS) Price Target Lowered to $18.00 at The Goldman Sachs Group

JinkoSolar (NYSE:JKS) had its price objective dropped by The Goldman Sachs Group from $20.00 to $18.00 in a research note issued to investors on Thursday,Benzinga reports. The firm currently has a “sell” rating on the semiconductor company’s stock. The Goldman Sachs Group’s price target would indicate a potential downside of 8.56% from the stock’s previous close.

Other research analysts have also issued research reports about the stock. Jefferies Financial Group upped their price target on shares of JinkoSolar from $36.00 to $65.00 and gave the company a “buy” rating in a research note on Thursday, December 5th. Glj Research reduced their target price on JinkoSolar from $13.08 to $10.95 and set a “sell” rating for the company in a research note on Thursday, January 23rd. Daiwa Capital Markets downgraded shares of JinkoSolar from an “underperform” rating to a “sell” rating in a report on Friday, January 10th. Finally, UBS Group decreased their price objective on JinkoSolar from $25.00 to $22.00 and set a “neutral” rating on the stock in a report on Thursday. Three analysts have rated the stock with a sell rating, three have given a hold rating and one has given a buy rating to the stock. According to MarketBeat, the company has a consensus rating of “Hold” and a consensus price target of $27.19.

JinkoSolar Price Performance

JinkoSolar stock opened at $19.69 on Thursday. JinkoSolar has a 1 year low of $16.70 and a 1 year high of $37.36. The stock has a market cap of $1.05 billion, a price-to-earnings ratio of 33.36 and a beta of 0.40. The firm has a 50-day moving average of $21.74 and a two-hundred day moving average of $23.14. The company has a debt-to-equity ratio of 0.81, a current ratio of 1.22 and a quick ratio of 0.97.

JinkoSolar (NYSE:JKS) last posted its earnings results on Wednesday, March 26th. The semiconductor company reported ($1.01) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.46) by ($0.55). The company had revenue of $20.65 billion for the quarter, compared to analysts’ expectations of $3.38 billion. JinkoSolar had a return on equity of 4.18% and a net margin of 0.53%. The firm’s quarterly revenue was down 37.1% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.54 EPS. On average, research analysts forecast that JinkoSolar will post -0.24 earnings per share for the current year.

Institutional Investors Weigh In On JinkoSolar

Hedge funds and other institutional investors have recently modified their holdings of the company. Pictet Asset Management Holding SA acquired a new position in JinkoSolar in the fourth quarter valued at $5,948,000. Balyasny Asset Management L.P. lifted its position in shares of JinkoSolar by 1,592.4% in the fourth quarter. Balyasny Asset Management L.P. now owns 129,385 shares of the semiconductor company’s stock valued at $3,222,000 after acquiring an additional 121,740 shares in the last quarter. Millennium Management LLC acquired a new stake in JinkoSolar in the 4th quarter worth about $2,846,000. AI Squared Management Ltd acquired a new stake in JinkoSolar during the fourth quarter worth about $2,336,000. Finally, State Street Corp boosted its position in JinkoSolar by 10.7% during the 3rd quarter. State Street Corp now owns 696,763 shares of the semiconductor company’s stock worth $18,687,000 after purchasing an additional 67,223 shares during the period. 35.82% of the stock is currently 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; solar power generation and solar system EPC services; and energy storage system, as well as undertakes solar power projects.