JinkoSolar (NYSE:JKS) Downgraded by Freedom Broker to “Hold”

Freedom Broker cut shares of JinkoSolar (NYSE:JKS) from a strong-buy rating to a hold rating in a research note released on Thursday,Zacks.com reports.

JKS has been the subject of several other research reports. Roth Capital dropped their price target on JinkoSolar from $25.00 to $16.00 and set a “neutral” rating for the company in a research report on Thursday. UBS Group upped their price objective on JinkoSolar from $23.00 to $24.00 and gave the company a “neutral” rating in a research report on Friday, May 29th. The Goldman Sachs Group set a $11.00 price objective on JinkoSolar in a research note on Thursday. Wall Street Zen cut JinkoSolar from a “hold” rating to a “sell” rating in a report on Saturday. Finally, Weiss Ratings reissued a “sell (d)” rating on shares of JinkoSolar in a research report on Monday, August 3rd. One research analyst has rated the stock with a Strong Buy rating, one has issued a Buy rating, four have given a Hold rating and two have given a Sell rating to the stock. According to data from MarketBeat.com, JinkoSolar currently has an average rating of “Hold” and an average target price of $19.88.

JinkoSolar Price Performance

JKS stock opened at $13.58 on Thursday. JinkoSolar has a 52 week low of $13.04 and a 52 week high of $31.88. The company has a quick ratio of 0.95, a current ratio of 1.26 and a debt-to-equity ratio of 1.16. The company has a fifty day simple moving average of $15.96 and a two-hundred day simple moving average of $21.02. The firm has a market capitalization of $711.18 million, a P/E ratio of -1.46 and a beta of 0.52.

JinkoSolar (NYSE:JKS) last posted its earnings results on Wednesday, August 26th. The semiconductor company reported ($2.53) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.75) by ($1.78). JinkoSolar had a negative return on equity of 9.93% and a negative net margin of 5.85%.The business had revenue of $1.82 billion during the quarter, compared to the consensus estimate of $2.17 billion. Analysts anticipate that JinkoSolar will post -2.76 earnings per share for the current fiscal year.

JinkoSolar Announces Dividend

The company also recently declared an annual dividend, which was paid on Thursday, July 9th. Investors of record on Monday, June 22nd were paid a dividend of $1.50 per share. The ex-dividend date of this dividend was Monday, June 22nd. This represents a dividend yield of 837.0%. JinkoSolar’s payout ratio is currently -15.20%.

Insider Buying and Selling

In related news, Director Wing Keong Siew sold 16,000 shares of the company’s stock in a transaction dated Tuesday, June 30th. The shares were sold at an average price of $16.49, for a total transaction of $263,840.00. Following the transaction, the director directly owned 170,000 shares in the company, valued at approximately $2,803,300. This represents a 8.60% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Insiders own 19.80% of the company’s stock.

Institutional Inflows and Outflows

Large investors have recently modified their holdings of the business. Hsbc Holdings PLC grew its stake in shares of JinkoSolar by 355.9% during the first quarter. Hsbc Holdings PLC now owns 189,569 shares of the semiconductor company’s stock valued at $4,817,000 after buying an additional 147,992 shares during the last quarter. Mitsubishi UFJ Trust & Banking Corp lifted its stake in shares of JinkoSolar by 72.5% during the 4th quarter. Mitsubishi UFJ Trust & Banking Corp now owns 83,404 shares of the semiconductor company’s stock worth $2,153,000 after acquiring an additional 35,057 shares during the last quarter. Renaissance Technologies LLC lifted its stake in shares of JinkoSolar by 96.2% during the 1st quarter. Renaissance Technologies LLC now owns 82,200 shares of the semiconductor company’s stock worth $2,089,000 after acquiring an additional 40,300 shares during the last quarter. Capital Wealth Planning LLC purchased a new position in JinkoSolar during the 4th quarter valued at $3,299,000. Finally, Legal & General Group Plc boosted its holdings in JinkoSolar by 9,212.1% during the 4th quarter. Legal & General Group Plc now owns 499,964 shares of the semiconductor company’s stock valued at $12,904,000 after acquiring an additional 494,595 shares during the period. Hedge funds and other institutional investors own 35.82% of the company’s stock.

JinkoSolar Company Profile

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.