Daiwa Capital Markets Downgrades JinkoSolar (NYSE:JKS) to Sell

JinkoSolar (NYSE:JKS) was downgraded by Daiwa Capital Markets from an “underperform” rating to a “sell” rating in a research note issued to investors on Friday,Finviz reports.

Several other analysts have also recently issued reports on JKS. StockNews.com raised shares of JinkoSolar from a “sell” rating to a “hold” rating in a research note on Wednesday, September 18th. Jefferies Financial Group increased their price target on JinkoSolar from $36.00 to $65.00 and gave the company a “buy” rating in a report on Thursday, December 5th. Two investment analysts have rated the stock with a sell rating, five have issued a hold rating and one has assigned a buy rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus price target of $31.33.

JinkoSolar Price Performance

JKS stock traded down $1.29 during midday trading on Friday, reaching $24.82. The stock had a trading volume of 630,045 shares, compared to its average volume of 805,668. JinkoSolar has a 52-week low of $16.70 and a 52-week high of $37.36. The company has a market cap of $1.32 billion, a price-to-earnings ratio of 42.07 and a beta of 0.30. The company’s fifty day simple moving average is $24.82 and its 200 day simple moving average is $22.44. The company has a current ratio of 1.22, a quick ratio of 0.97 and a debt-to-equity ratio of 0.81.

Institutional Trading of JinkoSolar

A number of hedge funds and other institutional investors have recently made changes to their positions in the company. Mackenzie Financial Corp lifted its holdings in 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 during the last quarter. Dimensional Fund Advisors LP lifted its stake in shares of JinkoSolar by 8.2% in the 2nd quarter. Dimensional Fund Advisors LP now owns 981,492 shares of the semiconductor company’s stock valued at $20,357,000 after purchasing an additional 74,219 shares during the last quarter. State Street Corp lifted its stake in shares of JinkoSolar by 10.7% in the 3rd quarter. State Street Corp now owns 696,763 shares of the semiconductor company’s stock valued at $18,687,000 after purchasing an additional 67,223 shares during the last quarter. Marshall Wace LLP grew its holdings in shares of 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, Decade Renewable Partners LP acquired a new stake in shares of JinkoSolar during the 2nd quarter worth about $4,272,000. Institutional investors and hedge funds own 35.82% of the company’s stock.

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.