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

JinkoSolar Holding Company Limited (NYSE:JKS) hit a new 52-week low on Wednesday . The stock traded as low as $13.66 and last traded at $13.4490, with a volume of 304667 shares traded. The stock had previously closed at $15.50.

Wall Street Analyst Weigh In

Several analysts recently weighed in on the stock. Wall Street Zen upgraded shares of JinkoSolar from a “sell” rating to a “hold” rating in a research report on Saturday, May 2nd. UBS Group upped their target price on shares of JinkoSolar from $23.00 to $24.00 and gave the stock a “neutral” rating in a research report on Friday, May 29th. Finally, Weiss Ratings restated a “sell (d)” rating on shares of JinkoSolar in a research note on Monday, August 3rd. One research 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 assigned a Sell rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Hold” and an average price target of $24.38.

JinkoSolar Trading Down 13.8%

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 firm’s 50-day simple moving average is $16.30 and its 200 day simple moving average is $21.27. The stock has a market capitalization of $699.40 million, a P/E ratio of -1.37 and a beta of 0.52.

JinkoSolar Dividend Announcement

The company also recently disclosed an annual dividend, which was paid on Thursday, July 9th. Shareholders of record on Monday, June 22nd were paid a dividend of $1.50 per share. The ex-dividend date of this dividend was Monday, June 22nd. This represents a yield of 837.0%. JinkoSolar’s dividend payout ratio is currently -15.20%.

Insider Activity at JinkoSolar

In other news, Director Wing Keong Siew sold 16,000 shares of the stock in a transaction 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 sale, the director owned 170,000 shares in the company, valued at $2,803,300. This represents a 8.60% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Company insiders own 19.80% of the company’s stock.

Institutional Investors Weigh In On JinkoSolar

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Raymond James Financial Inc. acquired a new stake in shares of JinkoSolar during the 2nd quarter valued at $47,000. Banque Cantonale Vaudoise acquired a new position in shares of JinkoSolar in the fourth quarter worth $58,000. Leonteq Securities AG acquired a new position in shares of JinkoSolar in the fourth quarter worth $101,000. Federation des caisses Desjardins du Quebec raised its holdings in shares of JinkoSolar by 277.9% during the fourth quarter. Federation des caisses Desjardins du Quebec now owns 7,086 shares of the semiconductor company’s stock worth $183,000 after acquiring an additional 5,211 shares in the last quarter. Finally, Janney Montgomery Scott LLC purchased a new stake in shares of JinkoSolar during the fourth quarter worth $209,000. Hedge funds and other institutional investors 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.