JinkoSolar (NYSE:JKS) Shares Down 2.9% – What’s Next?

JinkoSolar Holding Co., Ltd. (NYSE:JKS) traded down 2.9% during mid-day trading on Tuesday . The stock traded as low as $15.92 and last traded at $15.80. 205,148 shares changed hands during mid-day trading, a decline of 75% from the average session volume of 813,411 shares. The stock had previously closed at $16.28.

Wall Street Analysts Forecast Growth

A number of equities research analysts have weighed in on JKS shares. UBS Group lowered their price target on JinkoSolar from $25.00 to $22.00 and set a “neutral” rating on the stock in a research report on Thursday, March 27th. Glj Research cut their price target on shares of JinkoSolar from $13.08 to $10.95 and set a “sell” rating on the stock in a report on Thursday, January 23rd. Daiwa Capital Markets cut shares of JinkoSolar from an “underperform” rating to a “sell” rating in a report on Friday, January 10th. Finally, The Goldman Sachs Group lowered their target price on shares of JinkoSolar from $20.00 to $18.00 and set a “sell” rating on the stock in a report on Thursday, March 27th. Three analysts have rated the stock with a sell rating, three have issued a hold rating and one has given a buy rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus target price of $27.19.

JinkoSolar Price Performance

The company has a quick ratio of 0.97, a current ratio of 1.22 and a debt-to-equity ratio of 0.81. The company has a 50-day moving average of $21.38 and a 200 day moving average of $23.11. The stock has a market capitalization of $792.49 million, a PE ratio of 25.28 and a beta of 0.17.

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

Institutional Trading of JinkoSolar

A number of hedge funds have recently made changes to their positions in the company. State Street Corp boosted its stake in JinkoSolar by 10.7% in the third quarter. State Street Corp now owns 696,763 shares of the semiconductor company’s stock valued at $18,687,000 after acquiring an additional 67,223 shares during the period. Pictet Asset Management Holding SA purchased a new position in JinkoSolar during the 4th quarter worth approximately $5,948,000. Balyasny Asset Management L.P. grew its position in 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 valued at $3,222,000 after purchasing an additional 121,740 shares in the last quarter. Millennium Management LLC bought a new stake in shares of JinkoSolar in the 4th quarter valued at approximately $2,846,000. Finally, Hsbc Holdings PLC raised its stake in shares of JinkoSolar by 30.6% in the 4th quarter. Hsbc Holdings PLC now owns 102,523 shares of the semiconductor company’s stock valued at $2,553,000 after acquiring an additional 24,016 shares in the last quarter. Hedge funds and other institutional investors own 35.82% 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. 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.