JinkoSolar (NYSE:JKS) Reaches New 1-Year Low – Here’s What Happened

Shares of JinkoSolar Holding Company Limited (NYSE:JKS) reached a new 52-week low on Tuesday . The company traded as low as $18.13 and last traded at $18.1040, with a volume of 560952 shares traded. The stock had previously closed at $19.61.

Wall Street Analyst Weigh In

A number of analysts have weighed in on the company. Wall Street Zen upgraded JinkoSolar from a “sell” rating to a “hold” rating in a research note on Saturday, May 2nd. Zacks Research downgraded JinkoSolar from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, February 11th. Weiss Ratings downgraded JinkoSolar from a “hold (c-)” rating to a “sell (d)” rating in a research report on Wednesday, May 6th. Freedom Capital raised JinkoSolar from a “hold” rating to a “strong-buy” rating in a research report on Friday, April 17th. Finally, Daiwa Securities Group raised JinkoSolar from a “sell” rating to a “buy” rating and set a $28.50 price objective on the stock in a research report on Tuesday, March 24th. One analyst has rated the stock with a Strong Buy rating, one has given a Buy rating, three have issued a Hold rating and two have assigned a Sell rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus price target of $24.38.

JinkoSolar Stock Performance

The firm has a market cap of $971.25 million, a price-to-earnings ratio of -1.90 and a beta of 0.52. The company has a debt-to-equity ratio of 1.16, a current ratio of 1.26 and a quick ratio of 0.95. The firm has a fifty day simple moving average of $22.94 and a two-hundred day simple moving average of $25.17.

JinkoSolar (NYSE:JKS) last announced its quarterly earnings data on Wednesday, April 29th. The semiconductor company reported ($1.52) earnings per share (EPS) for the quarter, topping the consensus estimate of ($1.84) by $0.32. JinkoSolar had a negative return on equity of 9.52% and a negative net margin of 5.62%.The firm had revenue of $1.78 billion during the quarter, compared to analysts’ expectations of $2.09 billion. On average, analysts expect that JinkoSolar Holding Company Limited will post -2.76 EPS for the current year.

Insider Activity

In other news, Director Xianhua Li sold 1,280,000 shares of the firm’s stock in a transaction dated Wednesday, May 13th. The stock was sold at an average price of $25.53, for a total value of $32,678,400.00. Following the completion of the transaction, the director directly owned 10,349,612 shares in the company, valued at $264,225,594.36. This trade represents a 11.01% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, Director Wing Keong Siew sold 16,000 shares of the firm’s stock in a transaction dated Wednesday, May 13th. The stock was sold at an average price of $26.11, for a total value of $417,760.00. Following the completion of the transaction, the director owned 186,000 shares of the company’s stock, valued at approximately $4,856,460. The trade was a 7.92% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Company insiders own 19.80% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors have recently bought and sold shares of the stock. Raymond James Financial Inc. purchased a new position in JinkoSolar during the second quarter valued at approximately $47,000. Banque Cantonale Vaudoise purchased a new position in JinkoSolar during the fourth quarter valued at approximately $58,000. Leonteq Securities AG purchased a new position in JinkoSolar during the fourth quarter valued at approximately $101,000. New York State Common Retirement Fund purchased a new position in JinkoSolar during the third quarter valued at approximately $182,000. Finally, Federation des caisses Desjardins du Quebec increased its position in shares of JinkoSolar by 277.9% in the fourth quarter. Federation des caisses Desjardins du Quebec now owns 7,086 shares of the semiconductor company’s stock valued at $183,000 after buying an additional 5,211 shares in the last quarter. 35.82% of the stock is currently owned by hedge funds and other institutional investors.

About JinkoSolar

JinkoSolar Holding Co, Ltd. (NYSE: JKS) is a vertically integrated solar photovoltaic (PV) manufacturer headquartered in Shanghai, China. The company specializes in the design, development and production of high-performance solar modules, silicon wafers, solar cells and related components. Since its founding in 2006, JinkoSolar has become one of the world’s largest solar module suppliers, known for delivering reliable products to utility, commercial and residential customers.

JinkoSolar’s product portfolio encompasses a broad range of monocrystalline and polycrystalline PV modules, including half-cell, bifacial and high-efficiency Tiger module series.