The Goldman Sachs Group Cuts JinkoSolar (NYSE:JKS) Price Target to $18.00

JinkoSolar (NYSE:JKS) had its target price reduced by The Goldman Sachs Group from $20.00 to $18.00 in a research report report published on Thursday morning,Benzinga reports. The Goldman Sachs Group currently has a sell rating on the semiconductor company’s stock.

A number of other equities research analysts have also recently issued reports on JKS. Jefferies Financial Group boosted their price objective on JinkoSolar from $36.00 to $65.00 and gave the company a “buy” rating in a research note on Thursday, December 5th. Glj Research dropped their price objective on JinkoSolar from $13.08 to $10.95 and set a “sell” rating on the stock in a report on Thursday, January 23rd. UBS Group cut their price objective on shares of JinkoSolar from $25.00 to $22.00 and set a “neutral” rating for the company in a research report on Thursday. Finally, Daiwa Capital Markets lowered shares of JinkoSolar from an “underperform” rating to a “sell” rating in a report on Friday, January 10th. Three research analysts have rated the stock with a sell rating, three have assigned a hold rating and one has assigned a buy rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average target price of $27.19.

JinkoSolar Stock Performance

Shares of JKS opened at $19.69 on Thursday. JinkoSolar has a 12 month low of $16.70 and a 12 month high of $37.36. The company has a market capitalization of $1.05 billion, a price-to-earnings ratio of 33.36 and a beta of 0.40. The stock has a 50 day moving average of $21.74 and a 200 day moving average of $23.17. The company has a current ratio of 1.22, a quick ratio of 0.97 and a debt-to-equity ratio of 0.81.

JinkoSolar (NYSE:JKS) last posted its quarterly earnings data on Wednesday, March 26th. The semiconductor company reported ($1.01) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.46) by ($0.55). JinkoSolar had a return on equity of 4.18% and a net margin of 0.53%. The company had revenue of $20.65 billion for the quarter, compared to analysts’ expectations of $3.38 billion. During the same quarter last year, the business posted $0.54 EPS. The business’s quarterly revenue was down 37.1% on a year-over-year basis. As a group, sell-side analysts forecast that JinkoSolar will post -0.24 earnings per share for the current year.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Pictet Asset Management Holding SA bought a new position in JinkoSolar during the fourth quarter valued at approximately $5,948,000. Balyasny Asset Management L.P. boosted its holdings in shares of JinkoSolar by 1,592.4% during the fourth quarter. Balyasny Asset Management L.P. now owns 129,385 shares of the semiconductor company’s stock worth $3,222,000 after purchasing an additional 121,740 shares during the period. Millennium Management LLC purchased a new position in JinkoSolar during the 4th quarter valued at about $2,846,000. AI Squared Management Ltd bought a new position in shares of JinkoSolar during the fourth quarter valued at approximately $2,336,000. Finally, State Street Corp raised its holdings in JinkoSolar by 10.7% in the 3rd quarter. State Street Corp now owns 696,763 shares of the semiconductor company’s stock worth $18,687,000 after purchasing an additional 67,223 shares in the last quarter. 35.82% of the stock is currently owned by hedge funds and other institutional investors.

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.