JinkoSolar (NYSE:JKS) Downgraded to Strong Sell Rating by Zacks Research

Zacks Research lowered shares of JinkoSolar (NYSE:JKS) from a hold rating to a strong sell rating in a research report sent to investors on Thursday morning,Zacks reports.

Other equities research analysts have also recently issued reports about the stock. UBS Group lifted 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, May 29th. Wall Street Zen lowered shares of JinkoSolar from a “hold” rating to a “sell” rating in a report on Saturday, August 29th. Freedom Broker lowered shares of JinkoSolar from a “strong-buy” rating to a “hold” rating in a report on Thursday, August 27th. Weiss Ratings reaffirmed a “sell (d)” rating on shares of JinkoSolar in a research report on Monday, August 3rd. Finally, The Goldman Sachs Group set a $11.00 target price on shares of JinkoSolar in a report on Thursday, August 27th. One equities 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 assigned a Sell rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Hold” and an average target price of $19.88.

JinkoSolar Stock Performance

NYSE JKS opened at $12.02 on Thursday. The stock has a market cap of $629.49 million, a PE ratio of -1.29 and a beta of 0.51. The company has a current ratio of 1.26, a quick ratio of 0.95 and a debt-to-equity ratio of 1.16. JinkoSolar has a twelve month low of $11.95 and a twelve month high of $31.88. The stock has a fifty day simple moving average of $15.48 and a 200-day simple moving average of $20.48.

JinkoSolar (NYSE:JKS) last issued its quarterly earnings data on Wednesday, August 26th. The semiconductor company reported ($2.53) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.75) by ($1.78). The company had revenue of $1.82 billion during the quarter, compared to analysts’ expectations of $2.17 billion. JinkoSolar had a negative net margin of 5.85% and a negative return on equity of 9.93%. Equities analysts anticipate that JinkoSolar will post -5.63 earnings per share for the current year.

JinkoSolar Dividend Announcement

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

Insider Activity at JinkoSolar

In related news, Director Wing Siew sold 16,000 shares of JinkoSolar stock in a transaction that occurred on Tuesday, June 30th. The shares were sold at an average price of $16.49, for a total value of $263,840.00. Following the completion of the transaction, the director owned 170,000 shares in the company, valued at approximately $2,803,300. The trade was a 8.60% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Insiders own 19.80% of the company’s stock.

Hedge Funds Weigh In On JinkoSolar

Several hedge funds and other institutional investors have recently added to or reduced their stakes in JKS. Raymond James Financial Inc. acquired a new position in shares of JinkoSolar in the second quarter worth $47,000. Banque Cantonale Vaudoise acquired a new stake in shares of JinkoSolar in the fourth quarter valued at $58,000. Leonteq Securities AG acquired a new stake in shares of JinkoSolar in the fourth quarter valued at $101,000. Federation des caisses Desjardins du Quebec boosted its holdings in JinkoSolar by 277.9% in the fourth quarter. Federation des caisses Desjardins du Quebec now owns 7,086 shares of the semiconductor company’s stock valued at $183,000 after purchasing an additional 5,211 shares during the period. Finally, Janney Montgomery Scott LLC purchased a new position in JinkoSolar in the fourth quarter valued at $209,000. Hedge funds and other institutional investors own 35.82% of the company’s stock.

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.