JinkoSolar (NYSE:JKS) Hits New 12-Month Low – Should You Sell?

JinkoSolar Holding Company Limited (NYSE:JKS)’s stock price hit a new 52-week low during mid-day trading on Tuesday . The stock traded as low as $12.56 and last traded at $12.62, with a volume of 1105381 shares trading hands. The stock had previously closed at $13.54.

Analyst Ratings Changes

Several brokerages have recently weighed in on JKS. Freedom Broker downgraded JinkoSolar from a “strong-buy” rating to a “hold” rating in a report on Thursday, August 27th. Weiss Ratings restated a “sell (d)” rating on shares of JinkoSolar in a report on Monday, August 3rd. The Goldman Sachs Group set a $11.00 price objective on JinkoSolar in a research report on Thursday, August 27th. Wall Street Zen lowered JinkoSolar from a “hold” rating to a “sell” rating in a research note on Saturday, August 29th. Finally, UBS Group lifted their target price on JinkoSolar from $23.00 to $24.00 and gave the stock a “neutral” rating in a research report on Friday, May 29th. One equities research analyst has rated the stock with a Strong Buy rating, one has given a Buy rating, four have assigned a Hold rating and two have issued a Sell rating to the stock. According to MarketBeat, the stock has an average rating of “Hold” and an average price target of $19.88.

JinkoSolar Price Performance

The firm has a market capitalization of $653.89 million, a P/E ratio of -1.34 and a beta of 0.51. The stock’s 50 day simple moving average is $15.66 and its 200 day simple moving average is $20.64. The company has a debt-to-equity ratio of 1.16, a quick ratio of 0.95 and a current ratio of 1.26.

JinkoSolar (NYSE:JKS) last posted its quarterly earnings results on Wednesday, August 26th. The semiconductor company reported ($2.53) earnings per share for the quarter, missing the consensus estimate of ($0.75) by ($1.78). The company had revenue of $1.82 billion for the quarter, compared to the consensus estimate of $2.17 billion. JinkoSolar had a negative net margin of 5.85% and a negative return on equity of 9.93%. As a group, analysts expect that JinkoSolar Holding Company Limited will post -5.63 earnings per share for the current fiscal year.

JinkoSolar Dividend Announcement

The company also recently disclosed an annual dividend, which was paid on Thursday, July 9th. Shareholders of record on Monday, June 22nd were issued a dividend of $1.50 per share. This represents a yield of 837.0%. The ex-dividend date was Monday, June 22nd. JinkoSolar’s dividend payout ratio (DPR) is presently -15.86%.

Insiders Place Their Bets

In other JinkoSolar news, Director Wing Keong Siew sold 16,000 shares of JinkoSolar stock in a transaction on Tuesday, June 30th. The stock was sold at an average price of $16.49, for a total transaction of $263,840.00. Following the completion of the sale, the director directly owned 170,000 shares of the company’s stock, valued at $2,803,300. The trade was a 8.60% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. 19.80% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On JinkoSolar

Institutional investors have recently made changes to their positions in the company. Invesco Ltd. raised its holdings in shares of JinkoSolar by 15.4% in the fourth quarter. Invesco Ltd. now owns 1,604,250 shares of the semiconductor company’s stock valued at $41,406,000 after acquiring an additional 213,935 shares in the last quarter. Mackenzie Financial Corp grew its holdings in JinkoSolar by 1.5% during the 4th quarter. Mackenzie Financial Corp now owns 1,381,478 shares of the semiconductor company’s stock worth $36,289,000 after acquiring an additional 20,000 shares in the last quarter. Dimensional Fund Advisors LP grew its holdings in JinkoSolar by 0.4% during the 1st quarter. Dimensional Fund Advisors LP now owns 845,017 shares of the semiconductor company’s stock worth $21,449,000 after acquiring an additional 3,118 shares in the last quarter. State Street Corp increased its position in JinkoSolar by 8.0% during the 4th quarter. State Street Corp now owns 735,159 shares of the semiconductor company’s stock valued at $18,978,000 after purchasing an additional 54,661 shares during the period. Finally, Legal & General Group Plc increased its position 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 purchasing 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.