JinkoSolar (NYSE:JKS) Reaches New 1-Year Low – Should You Sell?

JinkoSolar Holding Company Limited (NYSE:JKS) shares reached a new 52-week low during trading on Tuesday. The company traded as low as $9.20 and last traded at $9.2320, with a volume of 800138 shares changing hands. The stock had previously closed at $9.67.

Analyst Ratings Changes

Several equities research analysts recently issued reports on the company. Wall Street Zen lowered JinkoSolar from a “hold” rating to a “sell” rating in a research note on Saturday, August 29th. The Goldman Sachs Group set a $11.00 target price on JinkoSolar in a research note on Thursday, August 27th. Weiss Ratings reaffirmed a “sell (d)” rating on shares of JinkoSolar in a report on Monday, August 3rd. Zacks Research downgraded JinkoSolar from a “hold” rating to a “strong sell” rating in a research report on Thursday, September 3rd. Finally, Freedom Broker downgraded JinkoSolar from a “strong-buy” rating to a “hold” rating in a research report on Thursday, August 27th. One equities research analyst has rated the stock with a Strong Buy rating, one has assigned a Buy rating, three have issued a Hold rating and three have assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus target price of $19.88.

JinkoSolar Stock Performance

The company has a debt-to-equity ratio of 1.10, a quick ratio of 0.84 and a current ratio of 1.13. The stock has a market cap of $498.30 million, a PE ratio of -1.02 and a beta of 0.51. The company’s 50-day moving average price is $13.56 and its two-hundred day moving average price is $18.54.

JinkoSolar (NYSE:JKS) last announced its earnings results 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 company had revenue of $1.82 billion during the quarter, compared to analysts’ expectations of $2.17 billion. JinkoSolar had a negative return on equity of 10.03% and a negative net margin of 5.85%. On average, equities research analysts forecast that JinkoSolar Holding Company Limited will post -5.63 EPS for the current year.

Hedge Funds Weigh In On JinkoSolar

A number of hedge funds and other institutional investors have recently modified their holdings of the company. Banque Cantonale Vaudoise increased its position in shares of JinkoSolar by 37.5% during the 1st quarter. Banque Cantonale Vaudoise now owns 3,079 shares of the semiconductor company’s stock valued at $78,000 after purchasing an additional 839 shares during the last quarter. Dimensional Fund Advisors LP lifted its position in JinkoSolar by 0.4% in the 1st quarter. Dimensional Fund Advisors LP now owns 845,017 shares of the semiconductor company’s stock worth $21,449,000 after buying an additional 3,118 shares during the last quarter. Himension Capital Singapore PTE. LTD. lifted its position in JinkoSolar by 5.1% in the 1st quarter. Himension Capital Singapore PTE. LTD. now owns 82,319 shares of the semiconductor company’s stock worth $2,092,000 after buying an additional 3,961 shares during the last quarter. Cetera Investment Advisers purchased a new stake in JinkoSolar in the first quarter worth approximately $307,000. Finally, Engineers Gate Manager LP purchased a new stake in JinkoSolar in the second quarter worth approximately $298,000. 35.82% of the stock is currently owned by hedge funds and other institutional investors.

About JinkoSolar

JinkoSolar Holding Co, Ltd. is a global solar photovoltaic (PV) product manufacturer. Through its principal operating subsidiary, Jiangxi Jinko, the company develops and produces silicon wafers, solar cells, and PV modules used in utility-scale, commercial, industrial, and residential solar power systems. Its product portfolio includes high-efficiency monocrystalline modules marketed under the Tiger and Tiger Neo product families.

JinkoSolar also provides energy storage products and related system solutions, supporting the integration of renewable power into electricity networks and on-site energy systems.