JinkoSolar (NYSE:JKS) Sets New 12-Month Low – Here’s Why

JinkoSolar Holding Company Limited (NYSE:JKS)’s stock price reached a new 52-week low on Thursday . The stock traded as low as $14.57 and last traded at $14.63, with a volume of 488527 shares changing hands. The stock had previously closed at $14.93.

Analysts Set New Price Targets

A number of research firms recently commented on JKS. UBS Group lifted their price target on JinkoSolar from $23.00 to $24.00 and gave the stock a “neutral” rating in a report on Friday, May 29th. Freedom Capital upgraded JinkoSolar from a “hold” rating to a “strong-buy” rating in a research note 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. Finally, Wall Street Zen upgraded shares of JinkoSolar from a “sell” rating to a “hold” rating in a research note on Saturday, May 2nd. One research analyst has rated the stock with a Strong Buy rating, one has given a Buy rating, three have assigned a Hold rating and two have given a Sell rating to the company’s stock. According to data from MarketBeat, JinkoSolar has a consensus rating of “Hold” and an average target price of $24.38.

JinkoSolar Price Performance

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 stock has a market capitalization of $766.17 million, a price-to-earnings ratio of -1.50 and a beta of 0.51. The business’s 50 day simple moving average is $18.19 and its 200-day simple moving average is $22.78.

JinkoSolar (NYSE:JKS) last posted its quarterly earnings results on Wednesday, April 29th. The semiconductor company reported ($1.52) 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 analysts’ expectations of $2.09 billion. JinkoSolar had a negative return on equity of 9.52% and a negative net margin of 5.62%. On average, research 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 announced an annual dividend, which was paid on Thursday, July 9th. Shareholders of record on Monday, June 22nd were given a $1.50 dividend. The ex-dividend date was Monday, June 22nd. This represents a yield of 837.0%. JinkoSolar’s dividend payout ratio (DPR) is currently -15.20%.

Insider Activity at JinkoSolar

In other news, Director Xianhua Li sold 1,280,000 shares of the firm’s stock in a transaction 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 completion of the transaction, the director 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 transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Wing Keong Siew sold 16,000 shares of JinkoSolar stock in a transaction that occurred on Tuesday, June 30th. The stock was sold at an average price of $16.49, for a total value of $263,840.00. Following the completion of the transaction, the director directly owned 170,000 shares in the company, valued at approximately $2,803,300. This represents a 8.60% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last quarter, insiders have sold 1,312,000 shares of company stock worth $33,360,000. 19.80% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On JinkoSolar

Large investors have recently bought and sold shares of the stock. Hsbc Holdings PLC boosted its holdings in JinkoSolar by 355.9% during the first quarter. Hsbc Holdings PLC now owns 189,569 shares of the semiconductor company’s stock worth $4,817,000 after purchasing an additional 147,992 shares during the last quarter. SG Americas Securities LLC raised its position in shares of JinkoSolar by 189.9% in the fourth 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 during the period. Mitsubishi UFJ Trust & Banking Corp raised its holdings in JinkoSolar by 72.5% during the 4th quarter. Mitsubishi UFJ Trust & Banking Corp now owns 83,404 shares of the semiconductor company’s stock valued at $2,153,000 after acquiring an additional 35,057 shares during the period. Capital Wealth Planning LLC purchased a new stake in JinkoSolar during the 4th quarter worth about $3,299,000. Finally, Legal & General Group Plc boosted its position 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 during the period. 35.82% of the stock is currently owned by institutional investors.

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.