JinkoSolar (JKS) Stock Price Down 8.3%

JinkoSolar Holding Co., Ltd. (NYSE:JKS) shares traded down 8.3% on Monday . The company traded as low as $19.02 and last traded at $19.25. 1,245,094 shares changed hands during trading, an increase of 26% from the average session volume of 990,701 shares. The stock had previously closed at $20.99.

Several research analysts have recently commented on JKS shares. ValuEngine raised JinkoSolar from a “sell” rating to a “hold” rating in a report on Tuesday, April 23rd. Zacks Investment Research raised JinkoSolar from a “hold” rating to a “buy” rating and set a $18.00 price objective for the company in a report on Wednesday, February 6th. Roth Capital raised JinkoSolar from a “neutral” rating to a “buy” rating and cut their price objective for the stock from $20.00 to $11.50 in a report on Monday, February 4th. Goldman Sachs Group raised JinkoSolar from a “neutral” rating to a “buy” rating and set a $20.00 price objective for the company in a report on Monday, February 4th. Finally, TheStreet raised JinkoSolar from a “d+” rating to a “c” rating in a report on Thursday, January 17th. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating and four have assigned a buy rating to the company. The stock has a consensus rating of “Hold” and an average price target of $12.58.

The company has a debt-to-equity ratio of 0.31, a current ratio of 0.95 and a quick ratio of 0.71. The firm has a market capitalization of $598.84 million, a P/E ratio of 12.66, a PEG ratio of 0.71 and a beta of 2.34.

JinkoSolar (NYSE:JKS) last issued its quarterly earnings data on Friday, March 22nd. The semiconductor company reported $0.40 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.72 by ($0.32). JinkoSolar had a return on equity of 5.01% and a net margin of 1.60%. The business had revenue of $1.12 billion for the quarter, compared to analysts’ expectations of $1.25 billion. During the same period in the previous year, the firm posted $0.20 EPS. The firm’s revenue for the quarter was up 14.7% compared to the same quarter last year. On average, analysts anticipate that JinkoSolar Holding Co., Ltd. will post 2.97 earnings per share for the current fiscal year.

Several hedge funds and other institutional investors have recently modified their holdings of JKS. BlackRock Inc. lifted its position in JinkoSolar by 0.8% in the 3rd quarter. BlackRock Inc. now owns 773,603 shares of the semiconductor company’s stock worth $8,332,000 after buying an additional 6,066 shares during the last quarter. Credit Suisse AG lifted its position in JinkoSolar by 195.6% in the 3rd quarter. Credit Suisse AG now owns 89,747 shares of the semiconductor company’s stock worth $967,000 after buying an additional 59,389 shares during the last quarter. Jane Street Group LLC bought a new stake in JinkoSolar in the 3rd quarter worth approximately $176,000. Mackenzie Financial Corp bought a new stake in JinkoSolar in the 3rd quarter worth approximately $165,000. Finally, Vanguard Group Inc. lifted its position in JinkoSolar by 22.4% in the 3rd quarter. Vanguard Group Inc. now owns 804,267 shares of the semiconductor company’s stock worth $8,662,000 after buying an additional 147,292 shares during the last quarter. 30.74% of the stock is owned by institutional investors.

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About JinkoSolar (NYSE:JKS)

JinkoSolar Holding Co, Ltd., together with its subsidiaries, engages in the design, development, production, and marketing of photovoltaic products in the People's Republic of China and internationally. The company offers solar modules, silicon wafers, solar cells, recovered silicon materials, and silicon ingots.

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