JinkoSolar (NYSE:JKS) Cut to “Sell” at Daiwa Capital Markets

JinkoSolar (NYSE:JKS) was downgraded by equities researchers at Daiwa Capital Markets from an “underperform” rating to a “sell” rating in a report issued on Friday, Marketbeat.com reports.

JKS has been the subject of a number of other reports. Jefferies Financial Group raised 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. StockNews.com upgraded shares of JinkoSolar from a “sell” rating to a “hold” rating in a report on Wednesday, September 18th. Two research analysts have rated the stock with a sell rating, five have assigned a hold rating and one has assigned a buy rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Hold” and a consensus target price of $31.33.

JinkoSolar Trading Down 5.1 %

Shares of JKS stock opened at $24.78 on Friday. The company has a market cap of $1.32 billion, a PE ratio of 42.00 and a beta of 0.30. JinkoSolar has a 1 year low of $16.70 and a 1 year high of $37.36. The stock’s 50 day simple moving average is $24.77 and its two-hundred day simple moving average is $22.48. The company has a debt-to-equity ratio of 0.81, a current ratio of 1.22 and a quick ratio of 0.97.

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in the stock. Headlands Technologies LLC grew its stake in JinkoSolar by 607.7% in the 2nd quarter. Headlands Technologies LLC now owns 4,048 shares of the semiconductor company’s stock worth $84,000 after acquiring an additional 3,476 shares in the last quarter. Dimensional Fund Advisors LP grew its stake in JinkoSolar by 8.2% in the second quarter. Dimensional Fund Advisors LP now owns 981,492 shares of the semiconductor company’s stock worth $20,357,000 after purchasing an additional 74,219 shares in the last quarter. Profund Advisors LLC grew its stake in JinkoSolar by 8.5% in the second quarter. Profund Advisors LLC now owns 12,217 shares of the semiconductor company’s stock worth $253,000 after purchasing an additional 960 shares in the last quarter. Marshall Wace LLP increased its holdings in JinkoSolar by 49.5% during the 2nd quarter. Marshall Wace LLP now owns 447,709 shares of the semiconductor company’s stock worth $9,277,000 after purchasing an additional 148,268 shares during the period. Finally, Point72 Europe London LLP purchased a new stake in shares of JinkoSolar in the 2nd quarter worth $3,023,000. Hedge funds and other 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.