JinkoSolar (JKS) Cut to “Sell” at ValuEngine

ValuEngine cut shares of JinkoSolar (NYSE:JKS) from a hold rating to a sell rating in a report issued on Wednesday morning.

A number of other research firms have also issued reports on JKS. Roth Capital upgraded JinkoSolar from a neutral rating to a buy rating and decreased their target price for the company from $20.00 to $11.50 in a report on Monday, February 4th. Goldman Sachs Group upgraded JinkoSolar from a neutral rating to a buy rating and set a $20.00 target price for the company in a report on Monday, February 4th. Williams Capital initiated coverage on JinkoSolar in a report on Wednesday, December 19th. They issued a sell rating and a $1.00 target price for the company. Zacks Investment Research upgraded JinkoSolar from a hold rating to a buy rating and set a $18.00 target price for the company in a report on Wednesday, February 6th. Finally, Credit Suisse Group reiterated a neutral rating on shares of JinkoSolar in a report on Tuesday, November 27th. Two investment analysts have rated the stock with a sell rating, two have given a hold rating and four have assigned a buy rating to the company. The stock has an average rating of Hold and an average price target of $12.58.

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NYSE:JKS opened at $16.67 on Wednesday. The firm has a market capitalization of $475.60 million, a P/E ratio of 24.51, a P/E/G ratio of 0.71 and a beta of 2.32. JinkoSolar has a 12-month low of $7.11 and a 12-month high of $21.80. The company has a quick ratio of 0.71, a current ratio of 0.94 and a debt-to-equity ratio of 0.21.

A number of large investors have recently added to or reduced their stakes in JKS. BlackRock Inc. boosted its holdings in JinkoSolar by 0.8% in the third quarter. BlackRock Inc. now owns 773,603 shares of the semiconductor company’s stock valued at $8,332,000 after purchasing an additional 6,066 shares during the period. Credit Suisse AG raised its stake in JinkoSolar by 195.6% in the third quarter. Credit Suisse AG now owns 89,747 shares of the semiconductor company’s stock valued at $967,000 after buying an additional 59,389 shares in the last quarter. Jane Street Group LLC acquired a new stake in JinkoSolar in the third quarter valued at $176,000. Mackenzie Financial Corp acquired a new stake in JinkoSolar in the third quarter valued at $165,000. Finally, Vanguard Group Inc. raised its stake in JinkoSolar by 22.4% in the third quarter. Vanguard Group Inc. now owns 804,267 shares of the semiconductor company’s stock valued at $8,662,000 after buying an additional 147,292 shares in the last quarter. Hedge funds and other institutional investors own 29.89% 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 in the People's Republic of China and internationally. The company offers solar modules, silicon wafers, solar cells, recovered silicon materials, and silicon ingots.

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