Royal Bank of Canada lessened its holdings in JinkoSolar Holding Co., Ltd. (NYSE:JKS) by 22.4% during the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 10,501 shares of the semiconductor company’s stock after selling 3,029 shares during the quarter. Royal Bank of Canada’s holdings in JinkoSolar were worth $588,000 as of its most recent SEC filing.
Several other hedge funds have also made changes to their positions in JKS. First Trust Advisors LP raised its position in JinkoSolar by 3.8% during the first quarter. First Trust Advisors LP now owns 27,780 shares of the semiconductor company’s stock worth $500,000 after acquiring an additional 1,018 shares in the last quarter. Hanson & Doremus Investment Management bought a new stake in JinkoSolar during the second quarter worth $66,000. Green Alpha Advisors LLC raised its position in JinkoSolar by 40.1% during the second quarter. Green Alpha Advisors LLC now owns 52,412 shares of the semiconductor company’s stock worth $2,936,000 after acquiring an additional 14,992 shares in the last quarter. Exchange Traded Concepts LLC raised its position in JinkoSolar by 19.9% during the second quarter. Exchange Traded Concepts LLC now owns 1,624 shares of the semiconductor company’s stock worth $91,000 after acquiring an additional 270 shares in the last quarter. Finally, Hussman Strategic Advisors Inc. raised its position in JinkoSolar by 652.4% during the second quarter. Hussman Strategic Advisors Inc. now owns 77,500 shares of the semiconductor company’s stock worth $4,342,000 after acquiring an additional 67,200 shares in the last quarter. 41.89% of the stock is currently owned by institutional investors and hedge funds.
JKS stock opened at $43.58 on Monday. The company has a debt-to-equity ratio of 0.73, a quick ratio of 0.77 and a current ratio of 1.08. The company’s 50-day simple moving average is $53.70 and its 200 day simple moving average is $49.76. JinkoSolar Holding Co., Ltd. has a 52 week low of $28.39 and a 52 week high of $85.32. The company has a market capitalization of $2.08 billion, a PE ratio of -16.57 and a beta of 1.13.
JinkoSolar (NYSE:JKS) last released its quarterly earnings results on Tuesday, November 30th. The semiconductor company reported $0.05 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.02 by $0.03. JinkoSolar had a net margin of 0.31% and a return on equity of 2.78%. The business had revenue of $1.33 billion for the quarter, compared to the consensus estimate of $1.39 billion. During the same period in the prior year, the company posted ($0.91) earnings per share. JinkoSolar’s revenue was up 3.0% compared to the same quarter last year. On average, analysts forecast that JinkoSolar Holding Co., Ltd. will post 1.84 EPS for the current year.
Several brokerages have recently weighed in on JKS. CIBC raised shares of JinkoSolar from a “neutral” rating to a “sector outperform” rating and set a $66.10 price objective on the stock in a research report on Thursday. CICC Research raised shares of JinkoSolar from a “market perform” rating to an “outperform” rating in a research report on Thursday. The Goldman Sachs Group increased their price objective on shares of JinkoSolar from $26.00 to $29.00 and gave the company a “sell” rating in a research report on Thursday. Jefferies Financial Group began coverage on shares of JinkoSolar in a research report on Monday, October 11th. They issued a “buy” rating on the stock. Finally, Zacks Investment Research raised shares of JinkoSolar from a “hold” rating to a “strong-buy” rating and set a $59.00 price objective on the stock in a research report on Friday. One analyst has rated the stock with a sell rating, two have assigned a hold rating, three have issued a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Buy” and a consensus target price of $49.22.
JinkoSolar Company Profile
JinkoSolar Holding Co, Ltd. manufactures innovative solar modules. It distributes solar products and sells its solutions and services to a diversified international utility, commercial and residential customer. The company was founded by Xiande Li, Kangping Chen, and Xianhua Li on August 3, 2007 and is headquartered in Shangrao, China.
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