JinkoSolar (NYSE:JKS) Shares Down 7.7% – Should You Sell?

JinkoSolar Holding Company Limited (NYSE:JKS)’s share price was down 7.7% during trading on Thursday . The company traded as low as $24.18 and last traded at $24.0270. Approximately 142,458 shares changed hands during trading, a decline of 79% from the average daily volume of 683,545 shares. The stock had previously closed at $26.04.

Analysts Set New Price Targets

A number of equities analysts recently commented on JKS shares. Wall Street Zen raised JinkoSolar from a “sell” rating to a “hold” rating in a research note on Saturday, May 2nd. Daiwa Securities Group raised JinkoSolar from a “sell” rating to a “buy” rating and set a $28.50 price target for the company in a research note on Tuesday, March 24th. Freedom Capital raised JinkoSolar from a “hold” rating to a “strong-buy” rating in a research note on Friday, April 17th. Zacks Research lowered JinkoSolar from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, February 11th. Finally, UBS Group dropped their price target on JinkoSolar from $25.00 to $23.00 and set a “neutral” rating for the company in a research note on Wednesday, April 29th. One investment analyst has rated the stock with a Strong Buy rating, one has issued a Buy rating, three have assigned a Hold rating and two have given a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus target price of $24.13.

JinkoSolar Price Performance

The firm has a market capitalization of $1.29 billion, a P/E ratio of -2.54 and a beta of 0.53. The firm has a 50 day moving average price of $23.99 and a 200-day moving average price of $25.75. The company has a current ratio of 1.26, a quick ratio of 0.95 and a debt-to-equity ratio of 1.16.

JinkoSolar (NYSE:JKS) last posted its quarterly earnings data on Wednesday, April 29th. The semiconductor company reported ($1.52) earnings per share (EPS) for the quarter, beating 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%. On average, analysts expect that JinkoSolar Holding Company Limited will post -2.76 earnings per share for the current year.

Institutional Investors Weigh In On JinkoSolar

Several hedge funds and other institutional investors have recently modified their holdings of JKS. Geode Capital Management LLC raised its holdings in shares of JinkoSolar by 9.9% in the second quarter. Geode Capital Management LLC now owns 37,671 shares of the semiconductor company’s stock worth $799,000 after buying an additional 3,394 shares during the period. JPMorgan Chase & Co. raised its holdings in shares of JinkoSolar by 7,759.6% in the second quarter. JPMorgan Chase & Co. now owns 11,082 shares of the semiconductor company’s stock worth $235,000 after buying an additional 10,941 shares during the period. Raymond James Financial Inc. purchased a new stake in shares of JinkoSolar in the second quarter worth approximately $47,000. SG Americas Securities LLC raised its holdings in shares of JinkoSolar by 63.0% in the third quarter. SG Americas Securities LLC now owns 66,997 shares of the semiconductor company’s stock worth $1,610,000 after buying an additional 25,903 shares during the period. Finally, Mitsubishi UFJ Trust & Banking Corp purchased a new stake in shares of JinkoSolar in the third quarter worth approximately $1,162,000. 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.