CIBC slashes price target on JinkoSolar Holding Co. Ltd. [JKS] – find out why.



JinkoSolar Holding Co. Ltd. [NYSE: JKS] closed the trading session at $45.27 on 01/13/22. The day’s price range saw the stock hit a low of $44.9201, while the highest price level was $49.85. The company report on January 13, 2022 that JinkoSolar’s Subsidiary Jinko Solar Co., Ltd.’s IPO Pricing Announced by the Shanghai Stock Exchange.

JinkoSolar Holding Co., Ltd. (“JinkoSolar” or the “Company”) (NYSE: JKS), one of the largest and most innovative solar module manufacturers in the world, is in the process of applying for an initial public offering (“IPO”) of the Company’s principal operating subsidiary, Jinko Solar Co., Ltd. (“Jiangxi Jinko”), on the Shanghai Stock Exchange’s Sci-Tech innovation board. Jiangxi Jinko’s IPO pricing has been announced by the Shanghai Stock Exchange.

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Jiangxi Jinko plans to issue 2,000,000,000.00 shares representing approximately 20% of the total 10,000,000,000.00 shares outstanding after the IPO. Of the shares issued in the IPO, 600,000,000.00 shares will be issued via direct placement to cornerstone investors including China National Social Security Fund, Shenzhen Capital Group, China Life Insurance, Taiping Life Insurance, China Insurance Investment Fund, State Power Investment Corporation, China Energy Investment Corporation, Shanghai Guosheng Group, Shangrao Binjiang Investment, Haining Jianshan New District Development Corporation, China Securities Investment, as well as to Jiangxi Jinko Asset Management Plans, which are funded by Jiangxi Jinko management team and core employees.

The stocks have a year to date performance of -1.50 percent and weekly performance of 4.84 percent. The stock has been moved at -21.95 percent over the last six months. The stock has performed -0.04 percent around the most recent 30 days and changed -10.27 percent over the most recent 3-months.

If compared to the average trading volume of 1.19M shares, JKS reached to a volume of 2377709 in the most recent trading day, which is why market watchdogs consider the stock to be active.

Here’s what leading stock market gurus have to say about JinkoSolar Holding Co. Ltd. [JKS]:

Based on careful and fact-backed analyses by Wall Street experts, the current consensus on the target price for JKS shares is $49.35 per share. Analysis on target price and performance of stocks is usually carefully studied by market experts, and the current Wall Street consensus on JKS stock is a recommendation set at 2.70. This rating represents a strong Buy recommendation, on the scale from 1 to 5, where 5 would mean strong sell, 4 represents Sell, 3 is Hold, and 2 indicates Buy.

CIBC have made an estimate for JinkoSolar Holding Co. Ltd. shares, keeping their opinion on the stock as Sector Outperform, with their previous recommendation back on December 02, 2021. While these analysts kept the previous recommendation, Jefferies raised their target price to Buy. The new note on the price target was released on October 11, 2021, representing the official price target for JinkoSolar Holding Co. Ltd. stock. Previously, the target price had yet another raise to $41, while UBS analysts kept a Neutral rating on JKS stock.

The Average True Range (ATR) for JinkoSolar Holding Co. Ltd. is set at 3.21, with the Price to Sales ratio for JKS stock in the period of the last 12 months amounting to 0.39. The Price to Book ratio for the last quarter was 1.26, with the Price to Cash per share for the same quarter was set at 23.93.

JKS stock trade performance evaluation

JinkoSolar Holding Co. Ltd. [JKS] gain into the green zone at the end of the last week, gaining into a positive trend and gaining by 4.84. With this latest performance, JKS shares dropped by -0.04% in over the last four-week period, additionally sinking by -21.95% over the last 6 months – not to mention a drop of -27.48% in the past year of trading.

Overbought and oversold stocks can be easily traced with the Relative Strength Index (RSI), where an RSI result of over 70 would be overbought, and any rate below 30 would indicate oversold conditions. An RSI rate of 50 would represent a neutral market momentum. The current RSI for JKS stock in for the last two-week period is set at 47.35, with the RSI for the last a single of trading hit 49.75, and the three-weeks RSI is set at 46.60 for JinkoSolar Holding Co. Ltd. [JKS]. The present Moving Average for the last 50 days of trading for this stock 50.16, while it was recorded at 45.25 for the last single week of trading, and 46.79 for the last 200 days.

JinkoSolar Holding Co. Ltd. [JKS]: An insightful look at the core fundamentals

JinkoSolar Holding Co. Ltd.’s liquidity data is similarly interesting compelling, with a Quick Ratio of 0.70 and a Current Ratio set at 1.10.

Earnings per share (EPS) analysis for JinkoSolar Holding Co. Ltd. [JKS] stock

The progress of the company may be observed through the prism of EPS growth rate, while Wall Street analysts are focusing on predicting the 5-year EPS growth rate for JKS. When it comes to the mentioned value, analysts are expecting to see the 5-year EPS growth rate for JinkoSolar Holding Co. Ltd. go to 29.07%.

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JinkoSolar Holding Co. Ltd. [JKS]: Insider Ownership positions

There are presently around $971 million, or 53.30% of JKS stock, in the hands of institutional investors. The top three institutional holders of JKS stocks are: SCHRODER INVESTMENT MANAGEMENT GROUP with ownership of 3,598,159, which is approximately 49.691% of the company’s market cap and around 1.00% of the total institutional ownership; INVESCO LTD., holding 2,337,361 shares of the stock with an approximate value of $107.64 million in JKS stocks shares; and BLACKROCK INC., currently with $94.57 million in JKS stock with ownership of nearly -0.239% of the company’s market capitalization.

57 institutional holders increased their position in JinkoSolar Holding Co. Ltd. [NYSE:JKS] by around 2,410,440 shares. Additionally, 59 investors decreased positions by around 2,339,453 shares, while 23 investors held positions by with 16,326,910 shares. The mentioned changes placed institutional holdings at 21,076,803 shares, according to the latest SEC report filing. JKS stock had 19 new institutional investments in for a total of 686,776 shares, while 17 institutional investors sold positions of 548,352 shares during the same period.