JinkoSolar (NYSE:JKS) Hits New 1-Year Low – Here’s What Happened

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.

Analysts Set New Price Targets

JKS has been the subject of a number of research reports. Zacks Research lowered shares of JinkoSolar from a “hold” rating to a “strong sell” rating in a research note on Thursday, September 3rd. Wall Street Zen lowered JinkoSolar from a “hold” rating to a “sell” rating in a report on Saturday, August 29th. Roth Capital lowered their target price on JinkoSolar from $25.00 to $16.00 and set a “neutral” rating on the stock in a research note on Thursday, August 27th. Weiss Ratings reaffirmed a “sell (d)” rating on shares of JinkoSolar in a research report on Monday, August 3rd. Finally, UBS Group raised their price target on JinkoSolar from $23.00 to $24.00 and gave the stock a “neutral” rating in a research note on Friday, May 29th. One analyst has rated the stock with a Strong Buy rating, one has assigned a Buy rating, three have issued a Hold rating and three have issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average price target of $19.88.

JinkoSolar Stock Performance

The firm’s 50 day moving average price is $15.23 and its 200-day moving average price is $20.13. The company has a debt-to-equity ratio of 1.16, a current ratio of 1.26 and a quick ratio of 0.95. The firm has a market cap of $638.50 million, a price-to-earnings ratio of -1.31 and a beta of 0.51.

JinkoSolar (NYSE:JKS) last released 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 5.85% and a negative return on equity of 9.93%. The firm had revenue of $1.82 billion for the quarter, compared to the consensus estimate of $2.17 billion. On average, analysts anticipate that JinkoSolar Holding Company Limited will post -5.63 earnings per share for the current year.

JinkoSolar Dividend Announcement

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

Insiders Place Their Bets

In other JinkoSolar news, Director Wing Siew sold 16,000 shares of the company’s stock in a transaction dated Tuesday, June 30th. The shares were sold at an average price of $16.49, for a total transaction of $263,840.00. Following the sale, the director directly owned 170,000 shares of the company’s stock, valued at approximately $2,803,300. This represents a 8.60% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Corporate insiders own 19.80% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the business. Invesco Ltd. increased its stake in shares of JinkoSolar by 15.4% in the 4th quarter. Invesco Ltd. now owns 1,604,250 shares of the semiconductor company’s stock valued at $41,406,000 after buying an additional 213,935 shares during the period. Mackenzie Financial Corp raised its position in shares of JinkoSolar by 1.5% in the 4th quarter. Mackenzie Financial Corp now owns 1,381,478 shares of the semiconductor company’s stock worth $36,289,000 after purchasing an additional 20,000 shares during the last quarter. Dimensional Fund Advisors LP raised 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 purchasing an additional 3,118 shares during the last quarter. State Street Corp boosted its stake in JinkoSolar by 8.0% in the 4th quarter. State Street Corp now owns 735,159 shares of the semiconductor company’s stock worth $18,978,000 after purchasing an additional 54,661 shares in the last quarter. Finally, Legal & General Group Plc boosted its stake in JinkoSolar by 9,212.1% in the 4th quarter. Legal & General Group Plc now owns 499,964 shares of the semiconductor company’s stock worth $12,904,000 after purchasing an additional 494,595 shares in the last quarter. 35.82% of the stock is owned by 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.