JinkoSolar (NYSE:JKS) Stock Price Down 4.7% – Here’s What Happened

JinkoSolar Holding Company Limited (NYSE:JKS) shares traded down 4.7% during mid-day trading on Tuesday . The company traded as low as $15.41 and last traded at $15.3960. 218,949 shares were traded during mid-day trading, a decline of 69% from the average daily volume of 700,547 shares. The stock had previously closed at $16.16.

Analyst Ratings Changes

A number of analysts recently commented on JKS shares. UBS Group increased their price target on JinkoSolar from $23.00 to $24.00 and gave the company a “neutral” rating in a research report on Friday, May 29th. Wall Street Zen raised shares of JinkoSolar from a “sell” rating to a “hold” rating in a report on Saturday, May 2nd. Finally, Weiss Ratings reaffirmed a “sell (d)” rating on shares of JinkoSolar in a report on Monday, August 3rd. One 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 stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average target price of $24.38.

JinkoSolar Trading Down 11.5%

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 stock has a market capitalization of $718.52 million, a P/E ratio of -1.41 and a beta of 0.52. The stock’s fifty day moving average price is $16.19 and its two-hundred day moving average price is $21.18.

JinkoSolar (NYSE:JKS) last announced its quarterly earnings data on Wednesday, August 26th. The semiconductor company reported ($2.53) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.75) by ($1.78). JinkoSolar had a negative net margin of 5.62% and a negative return on equity of 9.52%. The company had revenue of $1.82 billion for the quarter, compared to the consensus estimate of $2.17 billion. Equities research analysts forecast that JinkoSolar Holding Company Limited will post -2.76 EPS for the current year.

JinkoSolar Announces Dividend

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

Insider Transactions at JinkoSolar

In related news, Director Wing Keong Siew sold 16,000 shares of the business’s stock in a transaction dated Tuesday, June 30th. The stock was sold at an average price of $16.49, for a total transaction of $263,840.00. Following the transaction, the director owned 170,000 shares in the company, valued at $2,803,300. The trade was a 8.60% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 19.80% of the stock is currently owned by corporate insiders.

Institutional Trading of JinkoSolar

Institutional investors and hedge funds have recently bought and sold shares of the stock. Raymond James Financial Inc. purchased a new position in JinkoSolar during the second quarter valued at $47,000. Banque Cantonale Vaudoise purchased a new stake in shares of JinkoSolar during the fourth quarter valued at approximately $58,000. Leonteq Securities AG purchased a new stake in JinkoSolar during the 4th quarter valued at $101,000. Federation des caisses Desjardins du Quebec increased 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 worth $183,000 after buying an additional 5,211 shares in the last quarter. Finally, Janney Montgomery Scott LLC bought a new stake in shares of JinkoSolar in the fourth quarter worth approximately $209,000. 35.82% of the stock is currently owned by hedge funds and other institutional investors.

About JinkoSolar

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.