JinkoSolar (NYSE:JKS) Sets New 52-Week Low – Here’s Why

Shares of JinkoSolar Holding Company Limited (NYSE:JKS) hit a new 52-week low on Tuesday . The company traded as low as $11.95 and last traded at $12.0720, with a volume of 889816 shares trading hands. The stock had previously closed at $11.98.

Wall Street Analysts Forecast Growth

A number of equities research analysts have issued reports on JKS shares. Wall Street Zen lowered shares of JinkoSolar from a “hold” rating to a “sell” rating in a report on Saturday, August 29th. UBS Group boosted their price target on shares of JinkoSolar from $23.00 to $24.00 and gave the stock a “neutral” rating in a research note on Friday, May 29th. Roth Capital reduced their price objective on JinkoSolar from $25.00 to $16.00 and set a “neutral” rating on the stock in a research note on Thursday, August 27th. The Goldman Sachs Group set a $11.00 target price on JinkoSolar in a report on Thursday, August 27th. Finally, Zacks Research cut JinkoSolar from a “hold” rating to a “strong sell” rating in a research note on Thursday, September 3rd. One research analyst has rated the stock with a Strong Buy rating, one has assigned a Buy rating, three have assigned a Hold rating and three have given a Sell rating to the stock. Based on data from MarketBeat.com, JinkoSolar presently has a consensus rating of “Hold” and a consensus target price of $19.88.

JinkoSolar Trading Down 0.4%

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’s 50-day moving average price is $15.40 and its 200-day moving average price is $20.33. The firm has a market capitalization of $625.09 million, a PE ratio of -1.29 and a beta of 0.51.

JinkoSolar (NYSE:JKS) last posted its quarterly earnings results on Wednesday, August 26th. The semiconductor company reported ($2.53) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.75) by ($1.78). The business had revenue of $1.82 billion during the quarter, compared to analyst estimates of $2.17 billion. JinkoSolar had a negative net margin of 5.85% and a negative return on equity of 9.93%. On average, sell-side analysts expect that JinkoSolar Holding Company Limited will post -5.63 earnings per share for the current year.

JinkoSolar Announces Dividend

The firm also recently announced an annual dividend, which was paid on Thursday, July 9th. Investors of record on Monday, June 22nd were paid a dividend of $1.50 per share. The ex-dividend date was Monday, June 22nd. This represents a yield of 837.0%. JinkoSolar’s payout ratio is presently -15.86%.

Insider Transactions at JinkoSolar

In related news, Director Wing Siew sold 16,000 shares of the company’s 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 of the company’s stock, valued at $2,803,300. This represents a 8.60% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. 19.80% of the stock is owned by company insiders.

Institutional Trading of JinkoSolar

Several institutional investors have recently modified their holdings of JKS. Raymond James Financial Inc. acquired a new position in JinkoSolar in the second quarter valued at $47,000. Banque Cantonale Vaudoise purchased a new stake in shares of JinkoSolar in the 4th quarter valued at about $58,000. Leonteq Securities AG acquired a new stake in shares of JinkoSolar in the 4th quarter valued at about $101,000. Federation des caisses Desjardins du Quebec increased its position in 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 buying an additional 5,211 shares during the period. Finally, Janney Montgomery Scott LLC purchased a new stake in JinkoSolar in the fourth quarter valued at approximately $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.