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

Shares of JinkoSolar Holding Company Limited (NYSE:JKS) reached a new 52-week low during trading on Tuesday . The stock traded as low as $11.95 and last traded at $12.0720, with a volume of 889816 shares changing hands. The stock had previously closed at $11.98.

Analyst Upgrades and Downgrades

A number of analysts have weighed in on the company. Roth Capital decreased their price objective on JinkoSolar from $25.00 to $16.00 and set a “neutral” rating for the company in a research report on Thursday, August 27th. Weiss Ratings reaffirmed a “sell (d)” rating on shares of JinkoSolar in a report on Monday, August 3rd. The Goldman Sachs Group set a $11.00 target price on shares of JinkoSolar in a report on Thursday, August 27th. Freedom Broker cut shares of JinkoSolar from a “strong-buy” rating to a “hold” rating in a report on Thursday, August 27th. Finally, Zacks Research lowered JinkoSolar from a “hold” rating to a “strong sell” rating in a report on Thursday, September 3rd. One research analyst has rated the stock with a Strong Buy rating, one has assigned a Buy rating, three have given a Hold rating and three have issued a Sell rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus target price of $19.88.

JinkoSolar Trading Down 0.4%

The business’s fifty day moving average price is $15.40 and its 200 day moving average price is $20.33. 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 firm has a market capitalization of $625.09 million, a PE ratio of -1.29 and a beta of 0.51.

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

JinkoSolar Dividend Announcement

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

Insider Activity at JinkoSolar

In other news, Director Wing 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 completion of the transaction, the director owned 170,000 shares of the company’s stock, valued at $2,803,300. This represents a 8.60% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. 19.80% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On JinkoSolar

A number of hedge funds have recently made changes to their positions in JKS. Legal & General Group Plc boosted its stake in shares of 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 buying an additional 494,595 shares during the last quarter. Invesco Ltd. boosted its stake in JinkoSolar by 15.4% during the 4th 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 during the last quarter. Hsbc Holdings PLC grew its holdings in JinkoSolar by 355.9% during the 1st quarter. Hsbc Holdings PLC now owns 189,569 shares of the semiconductor company’s stock worth $4,817,000 after acquiring an additional 147,992 shares in the last quarter. Capital Wealth Planning LLC acquired a new position in JinkoSolar during the 4th quarter worth $3,299,000. Finally, Charles Schwab Investment Management Inc. increased its position in shares of JinkoSolar by 35.6% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 414,228 shares of the semiconductor company’s stock worth $10,691,000 after purchasing an additional 108,744 shares during the last quarter. Institutional investors and hedge funds own 35.82% of the company’s stock.

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.