Van ECK Associates Corp Has $324,000 Stock Position in JinkoSolar Holding Co., Ltd. (NYSE:JKS)

Van ECK Associates Corp lessened its stake in JinkoSolar Holding Co., Ltd. (NYSE:JKS) by 11.8% in the 3rd quarter, HoldingsChannel reports. The institutional investor owned 12,087 shares of the semiconductor company’s stock after selling 1,618 shares during the quarter. Van ECK Associates Corp’s holdings in JinkoSolar were worth $324,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also made changes to their positions in the company. Signaturefd LLC raised its position in JinkoSolar by 108.0% during the third quarter. Signaturefd LLC now owns 1,246 shares of the semiconductor company’s stock worth $33,000 after acquiring an additional 647 shares in the last quarter. Headlands Technologies LLC raised its holdings in shares of JinkoSolar by 607.7% in the 2nd quarter. Headlands Technologies LLC now owns 4,048 shares of the semiconductor company’s stock valued at $84,000 after purchasing an additional 3,476 shares during the period. Banco BTG Pactual S.A. acquired a new stake in JinkoSolar in the 1st quarter valued at about $207,000. Harel Insurance Investments & Financial Services Ltd. grew its holdings in JinkoSolar by 43.3% during the second quarter. Harel Insurance Investments & Financial Services Ltd. now owns 11,659 shares of the semiconductor company’s stock worth $242,000 after purchasing an additional 3,521 shares during the period. Finally, Profund Advisors LLC raised its stake in JinkoSolar by 8.5% in the second quarter. Profund Advisors LLC now owns 12,217 shares of the semiconductor company’s stock valued at $253,000 after buying an additional 960 shares during the period. 35.82% of the stock is owned by institutional investors.

Analysts Set New Price Targets

Several research analysts have recently commented on the company. StockNews.com upgraded JinkoSolar from a “sell” rating to a “hold” rating in a research note on Wednesday, September 18th. The Goldman Sachs Group decreased their price objective on shares of JinkoSolar from $21.00 to $18.00 and set a “sell” rating on the stock in a report on Tuesday, September 3rd. Finally, Roth Mkm cut their target price on shares of JinkoSolar from $25.00 to $20.00 and set a “neutral” rating for the company in a research note on Wednesday, September 4th. One research analyst has rated the stock with a sell rating and six have assigned a hold rating to the company’s stock. According to MarketBeat.com, JinkoSolar has a consensus rating of “Hold” and a consensus price target of $24.60.

JinkoSolar Stock Down 5.8 %

JKS opened at $21.34 on Wednesday. The company has a debt-to-equity ratio of 0.81, a quick ratio of 0.97 and a current ratio of 1.22. The stock has a fifty day moving average of $22.65 and a 200-day moving average of $22.68. JinkoSolar Holding Co., Ltd. has a fifty-two week low of $16.70 and a fifty-two week high of $38.65. The company has a market capitalization of $1.13 billion, a P/E ratio of 36.17 and a beta of 0.44.

JinkoSolar (NYSE:JKS) last posted its quarterly earnings data on Friday, August 30th. The semiconductor company reported $0.97 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.05 by $0.92. JinkoSolar had a net margin of 0.53% and a return on equity of 4.18%. The firm had revenue of $3.31 billion during the quarter, compared to the consensus estimate of $3.85 billion. On average, equities analysts expect that JinkoSolar Holding Co., Ltd. will post -0.42 EPS for the current year.

JinkoSolar 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.