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

JinkoSolar Holding Company Limited (NYSE:JKS) gapped down prior to trading on Monday . The stock had previously closed at $19.42, but opened at $18.42. JinkoSolar shares last traded at $18.3260, with a volume of 107,025 shares changing hands.

Analyst Upgrades and Downgrades

A number of research firms have weighed in on JKS. Freedom Capital raised shares of JinkoSolar from a “hold” rating to a “strong-buy” rating in a 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. Daiwa Securities Group raised shares of JinkoSolar from a “sell” rating to a “buy” rating and set a $28.50 price objective on the stock in a research note on Tuesday, March 24th. UBS Group increased their price objective on JinkoSolar from $23.00 to $24.00 and gave the company a “neutral” rating in a report on Friday, May 29th. Finally, Wall Street Zen raised JinkoSolar from a “sell” rating to a “hold” rating in a research report on Saturday, May 2nd. 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. According to MarketBeat, the stock presently has a consensus rating of “Hold” and an average target price of $24.38.

JinkoSolar Stock Performance

The company has a debt-to-equity ratio of 1.16, a quick ratio of 0.95 and a current ratio of 1.26. The stock’s 50 day moving average price is $22.22 and its 200 day moving average price is $24.86. The company has a market capitalization of $944.75 million, a P/E ratio of -1.85 and a beta of 0.52.

JinkoSolar (NYSE:JKS) last released its earnings results 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 net margin of 5.62% and a negative return on equity of 9.52%. The business had revenue of $1.78 billion for the quarter, compared to analyst estimates of $2.09 billion. As a group, equities analysts expect that JinkoSolar Holding Company Limited will post -2.76 EPS for the current year.

JinkoSolar Dividend Announcement

The firm also recently announced an annual dividend, which will be paid on Thursday, July 9th. Investors of record on Monday, June 22nd will be given a dividend of $1.50 per share. The ex-dividend date is Monday, June 22nd. This represents a dividend yield of 832.0%. JinkoSolar’s dividend payout ratio is presently -13.14%.

Insider Buying and Selling

In other JinkoSolar news, Director Wing Keong Siew sold 16,000 shares of the business’s stock in a transaction that occurred on Wednesday, May 13th. The stock was sold at an average price of $26.11, for a total value of $417,760.00. Following the transaction, the director directly owned 186,000 shares of the company’s stock, valued at approximately $4,856,460. The trade was a 7.92% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Xianhua Li sold 1,280,000 shares of the stock in a transaction that occurred on Wednesday, May 13th. The stock was sold at an average price of $25.53, for a total value of $32,678,400.00. Following the transaction, the director owned 10,349,612 shares in the company, valued at $264,225,594.36. The trade was a 11.01% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders own 19.80% of the company’s stock.

Institutional Trading of JinkoSolar

Institutional investors have recently made changes to their positions in the company. Raymond James Financial Inc. purchased a new position in JinkoSolar in the second quarter valued at about $47,000. Banque Cantonale Vaudoise bought a new stake in JinkoSolar during the fourth quarter valued at $58,000. Leonteq Securities AG purchased a new position in shares of JinkoSolar during the fourth quarter worth about $101,000. Federation des caisses Desjardins du Quebec increased its holdings in shares of JinkoSolar by 277.9% in the 4th quarter. Federation des caisses Desjardins du Quebec now owns 7,086 shares of the semiconductor company’s stock worth $183,000 after buying an additional 5,211 shares during the last quarter. Finally, Cornerstone Investment Partners LLC purchased a new stake in JinkoSolar during the fourth quarter valued at about $205,000. 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.