Mirae Asset Global Investments Co. Ltd. Lowers Holdings in JinkoSolar Holding Co., Ltd. (NYSE:JKS)

Mirae Asset Global Investments Co. Ltd. trimmed its holdings in JinkoSolar Holding Co., Ltd. (NYSE:JKS) by 31.2% during the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 1,316 shares of the semiconductor company’s stock after selling 597 shares during the period. Mirae Asset Global Investments Co. Ltd.’s holdings in JinkoSolar were worth $35,000 as of its most recent filing with the Securities & Exchange Commission.

Other large investors have also made changes to their positions in the company. Mackenzie Financial Corp lifted its position in shares of JinkoSolar by 1.8% in 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 in the last quarter. Marshall Wace LLP lifted its position in shares of JinkoSolar by 49.5% in the second quarter. Marshall Wace LLP now owns 447,709 shares of the semiconductor company’s stock valued at $9,277,000 after acquiring an additional 148,268 shares in the last quarter. Millennium Management LLC lifted its position in shares of JinkoSolar by 2,305.1% in 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 in the last quarter. SG Americas Securities LLC lifted its position in shares of JinkoSolar by 16.0% in the second quarter. SG Americas Securities LLC now owns 21,321 shares of the semiconductor company’s stock valued at $442,000 after acquiring an additional 2,939 shares in the last quarter. Finally, Decade Renewable Partners LP purchased a new position in shares of JinkoSolar in the second quarter valued at about $4,272,000. 35.82% of the stock is currently owned by hedge funds and other institutional investors.

JinkoSolar Trading Up 1.1 %

Shares of NYSE JKS opened at $28.16 on Wednesday. The business’s 50 day moving average is $21.97 and its two-hundred day moving average is $22.63. 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 Holding Co., Ltd. has a 1-year low of $16.70 and a 1-year high of $38.65. The stock has a market capitalization of $1.50 billion, a P/E ratio of 47.73 and a beta of 0.44.

JinkoSolar (NYSE:JKS) last issued its quarterly earnings data on Friday, August 30th. The semiconductor company reported $0.97 earnings per share for the quarter, topping the consensus estimate of $0.05 by $0.92. JinkoSolar had a return on equity of 4.18% and a net margin of 0.53%. The company had revenue of $3.31 billion for the quarter, compared to analysts’ expectations of $3.85 billion. As a group, research analysts expect that JinkoSolar Holding Co., Ltd. will post -0.42 EPS for the current year.

Wall Street Analysts Forecast Growth

Several brokerages have recently issued reports on JKS. The Goldman Sachs Group reduced their target price on JinkoSolar from $21.00 to $18.00 and set a “sell” rating on the stock in a report on Tuesday, September 3rd. Roth Mkm reduced their target price on JinkoSolar from $25.00 to $20.00 and set a “neutral” rating on the stock in a report on Wednesday, September 4th. Finally, StockNews.com raised JinkoSolar from a “sell” rating to a “hold” rating in a report on Wednesday, September 18th. One analyst has rated the stock with a sell rating and six have assigned a hold rating to the stock. According to MarketBeat, JinkoSolar presently has an average rating of “Hold” and a consensus target price of $24.60.

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.