JinkoSolar (NYSE:JKS) Reaches New 12-Month Low – What’s Next?

JinkoSolar Holding Company Limited (NYSE:JKS) reached a new 52-week low on Friday . The stock traded as low as $14.78 and last traded at $15.0660, with a volume of 194074 shares changing hands. The stock had previously closed at $15.75.

Wall Street Analyst Weigh In

Several research firms recently weighed in on JKS. Freedom Capital upgraded JinkoSolar from a “hold” rating to a “strong-buy” rating in a report on Friday, April 17th. Weiss Ratings cut shares of JinkoSolar from a “hold (c-)” rating to a “sell (d)” rating in a research report on Wednesday, May 6th. UBS Group raised 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. Finally, Wall Street Zen raised shares of JinkoSolar from a “sell” rating to a “hold” rating in a research note on Saturday, May 2nd. One analyst has rated the stock with a Strong Buy rating, one has issued a Buy rating, three have issued a Hold rating and two have issued a Sell rating to the stock. According to MarketBeat.com, the company has an average rating of “Hold” and a consensus target price of $24.38.

JinkoSolar Trading Down 3.9%

The stock has a fifty day moving average of $18.86 and a 200-day moving average of $23.15. 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 company has a market cap of $792.62 million, a PE ratio of -1.55 and a beta of 0.51.

JinkoSolar (NYSE:JKS) last released its earnings results on Wednesday, April 29th. The semiconductor company reported ($1.52) earnings per share for the quarter, topping analysts’ consensus estimates of ($1.84) by $0.32. JinkoSolar had a negative return on equity of 9.52% and a negative net margin of 5.62%.The business had revenue of $1.78 billion for the quarter, compared to analyst estimates of $2.09 billion. Sell-side analysts anticipate that JinkoSolar Holding Company Limited will post -2.76 EPS for the current fiscal year.

JinkoSolar Announces Dividend

The business also recently declared an annual dividend, which was paid on Thursday, July 9th. Investors 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 currently -15.20%.

Insider Activity

In other news, Director Wing Keong Siew sold 16,000 shares of JinkoSolar stock in a transaction that occurred on 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 sale, the director owned 170,000 shares of the company’s stock, valued at approximately $2,803,300. The trade was a 8.60% decrease in their ownership of the stock. The transaction 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 that occurred on Wednesday, May 13th. The shares were sold at an average price of $25.53, for a total transaction of $32,678,400.00. Following the sale, the director directly owned 10,349,612 shares of the company’s stock, valued at $264,225,594.36. This represents a 11.01% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last three months, insiders sold 1,312,000 shares of company stock valued at $33,360,000. 19.80% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of the company. SG Americas Securities LLC raised its position in JinkoSolar by 189.9% during the 4th quarter. SG Americas Securities LLC now owns 194,231 shares of the semiconductor company’s stock valued at $5,013,000 after purchasing an additional 127,234 shares in the last quarter. Mitsubishi UFJ Trust & Banking Corp grew its position in shares of JinkoSolar by 72.5% during the 4th quarter. Mitsubishi UFJ Trust & Banking Corp now owns 83,404 shares of the semiconductor company’s stock worth $2,153,000 after buying an additional 35,057 shares in the last quarter. Capital Wealth Planning LLC purchased a new position in shares of JinkoSolar during the fourth quarter valued at $3,299,000. Legal & General Group Plc raised its holdings in shares of JinkoSolar by 9,212.1% in the fourth quarter. Legal & General Group Plc now owns 499,964 shares of the semiconductor company’s stock valued at $12,904,000 after acquiring an additional 494,595 shares in the last quarter. Finally, Cornerstone Investment Partners LLC bought a new stake in shares of JinkoSolar in the fourth quarter valued at about $205,000. 35.82% of the stock is currently owned by hedge funds and other institutional investors.

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.