JinkoSolar (NYSE:JKS) Given New $22.00 Price Target at UBS Group

JinkoSolar (NYSE:JKS) had its price target lowered by UBS Group from $25.00 to $22.00 in a research note released on Thursday,Benzinga reports. The brokerage currently has a neutral rating on the semiconductor company’s stock.

Several other equities research analysts have also commented on JKS. Glj Research dropped their price objective on shares of JinkoSolar from $13.08 to $10.95 and set a “sell” rating on the stock in a research note on Thursday, January 23rd. Jefferies Financial Group boosted their price target on JinkoSolar from $36.00 to $65.00 and gave the stock a “buy” rating in a research report on Thursday, December 5th. Finally, Daiwa Capital Markets cut JinkoSolar from an “underperform” rating to a “sell” rating in a research note on Friday, January 10th. 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 company. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus target price of $27.19.

JinkoSolar Stock Performance

JinkoSolar stock opened at $19.69 on Thursday. JinkoSolar has a fifty-two week low of $16.70 and a fifty-two week 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 stock’s 50 day simple moving average is $21.74 and its two-hundred day simple moving average is $23.17. The company has a debt-to-equity ratio of 0.81, a quick ratio of 0.97 and a current ratio of 1.22.

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

Institutional Trading of JinkoSolar

Institutional investors and hedge funds have recently modified their holdings of the business. Barclays PLC raised its holdings in shares of JinkoSolar by 30.2% during the third quarter. Barclays PLC now owns 2,318 shares of the semiconductor company’s stock valued at $62,000 after purchasing an additional 537 shares during the last quarter. CoreCommodity Management LLC raised its stake in JinkoSolar by 1.1% during the 4th quarter. CoreCommodity Management LLC now owns 61,559 shares of the semiconductor company’s stock valued at $1,533,000 after buying an additional 640 shares during the last quarter. Mitsubishi UFJ Asset Management Co. Ltd. lifted its holdings in shares of JinkoSolar by 5.3% during the 4th quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 20,289 shares of the semiconductor company’s stock valued at $532,000 after buying an additional 1,028 shares during the period. Daiwa Securities Group Inc. boosted its stake in shares of JinkoSolar by 15.8% in the 3rd quarter. Daiwa Securities Group Inc. now owns 8,800 shares of the semiconductor company’s stock worth $236,000 after buying an additional 1,200 shares during the last quarter. Finally, CANADA LIFE ASSURANCE Co bought a new stake in shares of JinkoSolar in the fourth quarter worth $55,000. Institutional investors own 35.82% of the company’s stock.

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.