JinkoSolar (NYSE:JKS) Hits New 1-Year Low – Time to Sell?

by · The Cerbat Gem

Shares of JinkoSolar Holding Company Limited (NYSE:JKSGet Free Report) reached a new 52-week low during mid-day trading on Tuesday . The company traded as low as $18.13 and last traded at $18.1040, with a volume of 560952 shares changing hands. The stock had previously closed at $19.61.

Analysts Set New Price Targets

A number of equities analysts have recently commented on JKS shares. Daiwa Securities Group raised JinkoSolar from a “sell” rating to a “buy” rating and set a $28.50 price objective for the company in a research report on Tuesday, March 24th. UBS Group lifted 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. Wall Street Zen upgraded shares of JinkoSolar from a “sell” rating to a “hold” rating in a report on Saturday, May 2nd. Weiss Ratings lowered shares of JinkoSolar from a “hold (c-)” rating to a “sell (d)” rating in a report on Wednesday, May 6th. Finally, Freedom Capital upgraded shares of JinkoSolar from a “hold” rating to a “strong-buy” rating in a research note on Friday, April 17th. One research analyst has rated the stock with a Strong Buy rating, one has given a Buy rating, three have issued a Hold rating and two have issued a Sell rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average target price of $24.38.

Read Our Latest Stock Analysis on JinkoSolar

JinkoSolar Stock Down 7.5%

The company has a market capitalization of $950.41 million, a price-to-earnings ratio of -1.86 and a beta of 0.52. 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 business has a 50-day simple moving average of $23.22 and a two-hundred day simple moving average of $25.29.

JinkoSolar (NYSE:JKSGet Free Report) last released its quarterly earnings results on Wednesday, April 29th. The semiconductor company reported ($1.52) EPS 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%.The business had revenue of $1.78 billion during the quarter, compared to analysts’ expectations of $2.09 billion. As a group, equities analysts predict that JinkoSolar Holding Company Limited will post -2.76 EPS for the current year.

Insider Buying and Selling at JinkoSolar

In related news, Director Wing Keong Siew sold 16,000 shares of the firm’s stock in a transaction dated Wednesday, May 13th. The shares were sold at an average price of $26.11, for a total value of $417,760.00. Following the completion of the sale, the director owned 186,000 shares in the company, valued at $4,856,460. This trade represents a 7.92% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Xianhua Li sold 1,280,000 shares of the business’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 transaction, the director owned 10,349,612 shares in the company, valued at $264,225,594.36. The trade was a 11.01% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. 19.80% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently bought and sold shares of the business. Renaissance Technologies LLC increased its holdings in shares of JinkoSolar by 96.2% in the 1st quarter. Renaissance Technologies LLC now owns 82,200 shares of the semiconductor company’s stock valued at $2,089,000 after purchasing an additional 40,300 shares in the last quarter. Cetera Investment Advisers purchased a new position in shares of JinkoSolar in the first quarter valued at $307,000. Himension Capital Singapore PTE. LTD. raised its stake in shares of JinkoSolar by 5.1% during the 1st quarter. Himension Capital Singapore PTE. LTD. now owns 82,319 shares of the semiconductor company’s stock worth $2,092,000 after buying an additional 3,961 shares during the last quarter. Dimensional Fund Advisors LP boosted its position in shares of JinkoSolar by 0.4% in the 1st quarter. Dimensional Fund Advisors LP now owns 845,017 shares of the semiconductor company’s stock worth $21,449,000 after buying an additional 3,118 shares in the last quarter. Finally, Hsbc Holdings PLC grew its stake in JinkoSolar by 355.9% in the 1st quarter. Hsbc Holdings PLC now owns 189,569 shares of the semiconductor company’s stock valued at $4,817,000 after acquiring an additional 147,992 shares during the last quarter. Institutional investors and hedge funds own 35.82% of the company’s stock.

JinkoSolar Company Profile

(Get Free Report)

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.

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