TheStreet cut shares of JinkoSolar (NYSE:JKS – Get Rating) from a c rating to a d+ rating in a research report sent to investors on Monday morning, TheStreetRatingsTable reports.
Separately, The Goldman Sachs Group upped their price target on shares of JinkoSolar from $31.00 to $35.00 and gave the stock a sell rating in a report on Monday, August 29th. One research analyst has rated the stock with a sell rating, three have issued a hold rating and three have issued a buy rating to the company's stock. According to data from MarketBeat, the stock presently has an average rating of Hold and a consensus price target of $51.03.
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JinkoSolar Stock Down 5.6 %
NYSE JKS opened at $58.08 on Monday. The business has a fifty day moving average price of $62.06 and a two-hundred day moving average price of $57.66. The company has a debt-to-equity ratio of 0.54, a current ratio of 1.09 and a quick ratio of 0.79. JinkoSolar has a fifty-two week low of $35.41 and a fifty-two week high of $76.92. The stock has a market capitalization of $2.91 billion, a PE ratio of -48.00 and a beta of 0.70.
JinkoSolar announced that its board has authorized a share buyback plan on Wednesday, July 6th that authorizes the company to repurchase $0.00 in shares. This repurchase authorization authorizes the semiconductor company to repurchase shares of its stock through open market purchases. Stock repurchase plans are usually a sign that the company's leadership believes its stock is undervalued.
Institutional Trading of JinkoSolar
A number of institutional investors and hedge funds have recently bought and sold shares of JKS. Schroder Investment Management Group increased its holdings in JinkoSolar by 49.1% in the fourth quarter. Schroder Investment Management Group now owns 5,365,315 shares of the semiconductor company's stock valued at $123,295,000 after purchasing an additional 1,767,156 shares during the period. Hhlr Advisors LTD. acquired a new stake in JinkoSolar during the 2nd quarter worth about $78,894,000. Healthcare of Ontario Pension Plan Trust Fund acquired a new stake in JinkoSolar during the 2nd quarter worth about $45,887,000. Renaissance Technologies LLC acquired a new stake in JinkoSolar during the 2nd quarter worth about $33,995,000. Finally, SPRINGS CAPITAL HONG KONG Ltd acquired a new stake in JinkoSolar during the 1st quarter worth about $22,736,000. 88.68% of the stock is currently owned by institutional investors and hedge funds.
JinkoSolar Company Profile
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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; and develops commercial solar power projects.
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