JinkoSolar (NYSE:JKS) Stock Price Down 7.2% – Here’s Why

JinkoSolar Holding Company Limited (NYSE:JKS) was down 7.2% during trading on Monday . The stock traded as low as $21.55 and last traded at $21.6370. Approximately 332,763 shares were traded during trading, a decline of 53% from the average daily volume of 705,963 shares. The stock had previously closed at $23.31.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently commented on JKS shares. Weiss Ratings lowered shares of JinkoSolar from a “hold (c-)” rating to a “sell (d)” rating in a research report 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 target for the company in a research report on Tuesday, March 24th. Zacks Research lowered shares of JinkoSolar from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, February 11th. Wall Street Zen raised shares of JinkoSolar from a “sell” rating to a “hold” rating in a research report on Saturday, May 2nd. Finally, UBS Group upped their price target on shares of JinkoSolar from $23.00 to $24.00 and gave the company a “neutral” rating in a research report on Friday. One investment analyst has rated the stock with a Strong Buy rating, one has issued a Buy rating, three have given a Hold rating and two have assigned a Sell rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Hold” and an average price target of $24.38.

JinkoSolar Stock Down 7.2%

The company has a current ratio of 1.26, a quick ratio of 0.95 and a debt-to-equity ratio of 1.16. The firm has a market capitalization of $1.13 billion, a P/E ratio of -2.22 and a beta of 0.52. The company has a 50 day simple moving average of $23.62 and a two-hundred day simple moving average of $25.56.

JinkoSolar (NYSE:JKS) last posted its quarterly earnings results on Wednesday, April 29th. The semiconductor company reported ($1.52) earnings per share for the quarter, topping the consensus estimate of ($1.84) by $0.32. JinkoSolar had a negative return on equity of 9.52% and a negative net margin of 5.62%. On average, equities analysts predict that JinkoSolar Holding Company Limited will post -2.76 EPS for the current fiscal year.

Insider Activity at JinkoSolar

In other JinkoSolar news, Director Xianhua Li sold 1,280,000 shares of the company’s 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 completion of the transaction, the director directly owned 10,349,612 shares in the company, valued at $264,225,594.36. This represents a 11.01% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, Director Wing Keong Siew sold 16,000 shares of the company’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 completion of the transaction, the director owned 186,000 shares of the company’s stock, valued at $4,856,460. The trade was a 7.92% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Corporate insiders own 19.80% of the company’s stock.

Institutional Investors Weigh In On JinkoSolar

A number of institutional investors and hedge funds have recently modified their holdings of JKS. Raymond James Financial Inc. acquired a new position in JinkoSolar in the second quarter valued at approximately $47,000. Banque Cantonale Vaudoise purchased a new stake in shares of JinkoSolar during the fourth quarter worth approximately $58,000. Leonteq Securities AG purchased a new stake in shares of JinkoSolar during the fourth quarter worth approximately $101,000. New York State Common Retirement Fund purchased a new stake in JinkoSolar in the 3rd quarter valued at $182,000. Finally, Federation des caisses Desjardins du Quebec grew its holdings in 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 valued at $183,000 after buying an additional 5,211 shares in the last quarter. Institutional investors and hedge funds 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.