JinkoSolar (NYSE:JKS) Reaches New 52-Week Low – Should You Sell?

JinkoSolar Holding Company Limited (NYSE:JKS) reached a new 52-week low on Wednesday . The stock traded as low as $15.31 and last traded at $15.2460, with a volume of 90934 shares changing hands. The stock had previously closed at $15.72.

Wall Street Analysts Forecast Growth

A number of equities analysts have issued reports on the company. Weiss Ratings cut JinkoSolar from a “hold (c-)” rating to a “sell (d)” rating in a report on Wednesday, May 6th. Freedom Capital upgraded JinkoSolar from a “hold” rating to a “strong-buy” rating in a report on Friday, April 17th. Wall Street Zen upgraded shares of JinkoSolar from a “sell” rating to a “hold” rating in a report on Saturday, May 2nd. Daiwa Securities Group upgraded shares of JinkoSolar from a “sell” rating to a “buy” rating and set a $28.50 price objective for the company in a report on Tuesday, March 24th. Finally, UBS Group boosted their target price on shares of JinkoSolar from $23.00 to $24.00 and gave the stock a “neutral” rating in a report on Friday, May 29th. One research 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 data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus target price of $24.38.

JinkoSolar Price Performance

The stock has a market cap of $792.04 million, a P/E ratio of -1.55 and a beta of 0.51. The business has a 50-day simple moving average of $20.76 and a 200 day simple moving average of $24.09. 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 issued its quarterly earnings data on Wednesday, April 29th. The semiconductor company reported ($1.52) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($1.84) by $0.32. The company had revenue of $1.78 billion during the quarter, compared to the consensus estimate of $2.09 billion. JinkoSolar had a negative return on equity of 9.52% and a negative net margin of 5.62%. On average, analysts forecast that JinkoSolar Holding Company Limited will post -2.76 earnings per share for the current year.

JinkoSolar Dividend Announcement

The company also recently disclosed an annual dividend, which will be paid on Thursday, July 9th. Stockholders 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 837.0%. JinkoSolar’s dividend payout ratio is -15.20%.

Insiders Place Their Bets

In other JinkoSolar news, Director Wing Keong Siew sold 16,000 shares of the stock in a transaction dated Tuesday, June 30th. The stock was sold at an average price of $16.49, for a total transaction of $263,840.00. Following the completion of the sale, the director directly owned 170,000 shares in the company, valued at approximately $2,803,300. This trade represents a 8.60% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director Xianhua Li sold 1,280,000 shares of JinkoSolar stock in a transaction dated 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 completion of the transaction, the director directly owned 10,349,612 shares of the company’s stock, valued at approximately $264,225,594.36. This trade represents a 11.01% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders have sold 1,312,000 shares of company stock valued at $33,360,000 in the last three months. 19.80% of the stock is owned by insiders.

Institutional Investors Weigh In On JinkoSolar

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