JinkoSolar (NYSE:JKS) Hits New 12-Month Low – Time to Sell?

JinkoSolar Holding Company Limited (NYSE:JKS)’s share price hit a new 52-week low during trading on Monday . The stock traded as low as $15.53 and last traded at $15.6610, with a volume of 484381 shares changing hands. The stock had previously closed at $16.28.

Analyst Upgrades and Downgrades

Several analysts have recently weighed in on the company. Freedom Capital upgraded JinkoSolar from a “hold” rating to a “strong-buy” rating in a research report on Friday, April 17th. Weiss Ratings downgraded shares of JinkoSolar from a “hold (c-)” rating to a “sell (d)” rating in a research note on Wednesday, May 6th. UBS Group lifted their price objective on shares of JinkoSolar from $23.00 to $24.00 and gave the company a “neutral” rating in a report on Friday, May 29th. Daiwa Securities Group upgraded shares of JinkoSolar from a “sell” rating to a “buy” rating and set a $28.50 target price on the stock in a research note on Tuesday, March 24th. Finally, Wall Street Zen raised shares of JinkoSolar from a “sell” rating to a “hold” rating in a research report on Saturday, May 2nd. One research analyst has rated the stock with a Strong Buy rating, one has given a Buy rating, three have given a Hold rating and two have issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and an average target price of $24.38.

JinkoSolar Stock Down 3.6%

The company has a current ratio of 1.26, a quick ratio of 0.95 and a debt-to-equity ratio of 1.16. The firm has a market cap of $822.05 million, a PE ratio of -1.61 and a beta of 0.52. The business’s 50-day simple moving average is $21.57 and its 200 day simple moving average is $24.59.

JinkoSolar (NYSE:JKS) last posted its quarterly earnings results on Wednesday, April 29th. The semiconductor company reported ($1.52) EPS for the quarter, beating the consensus estimate of ($1.84) by $0.32. JinkoSolar had a negative net margin of 5.62% and a negative return on equity of 9.52%. The business had revenue of $1.78 billion during the quarter, compared to analyst estimates of $2.09 billion. As a group, equities research analysts expect that JinkoSolar Holding Company Limited will post -2.76 earnings per share for the current year.

JinkoSolar Dividend Announcement

The business also recently announced an annual dividend, which will be paid on Thursday, July 9th. Shareholders of record on Monday, June 22nd will be issued a dividend of $1.50 per share. The ex-dividend date is Monday, June 22nd. This represents a yield of 837.0%. JinkoSolar’s dividend payout ratio is currently -15.20%.

Insider Buying and Selling at JinkoSolar

In other JinkoSolar news, Director Wing Keong Siew sold 16,000 shares of the stock in a transaction on Wednesday, May 13th. The stock was sold at an average price of $26.11, for a total transaction of $417,760.00. Following the sale, the director owned 186,000 shares of the company’s stock, valued at approximately $4,856,460. This trade represents a 7.92% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Xianhua Li sold 1,280,000 shares of JinkoSolar stock in a transaction on Wednesday, May 13th. The shares were 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 owned 10,349,612 shares in the company, valued at $264,225,594.36. This represents a 11.01% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. 19.80% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On JinkoSolar

Several institutional investors and hedge funds have recently added to or reduced their stakes in JKS. Raymond James Financial Inc. bought a new position in JinkoSolar in the second quarter worth about $47,000. Banque Cantonale Vaudoise purchased a new position in shares of JinkoSolar in the 4th quarter worth approximately $58,000. Leonteq Securities AG bought a new position in shares of JinkoSolar during the 4th quarter worth approximately $101,000. Federation des caisses Desjardins du Quebec lifted its position in JinkoSolar by 277.9% during 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 acquiring an additional 5,211 shares during the last quarter. Finally, Cornerstone Investment Partners LLC acquired a new stake in JinkoSolar in the fourth quarter valued at approximately $205,000. 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.