JinkoSolar (NYSE:JKS) Stock Falls 6.2% – Should You Sell?

JinkoSolar Holding Company Limited (NYSE:JKS) shares traded down 6.2% during trading on Monday. The company traded as low as $10.25 and last traded at $10.2950. Approximately 190,509 shares traded hands during mid-day trading, a decline of 74% from the average daily volume of 737,405 shares. The stock had previously closed at $10.97.

Analyst Ratings Changes

Several research analysts have weighed in on JKS shares. The Goldman Sachs Group set a $11.00 price target on shares of JinkoSolar in a report on Thursday, August 27th. Wall Street Zen upgraded JinkoSolar from a “strong sell” rating to a “hold” rating in a report on Saturday. Roth Capital decreased their target price on JinkoSolar from $16.00 to $10.00 and set a “neutral” rating on the stock in a research report on Monday, November 2nd. UBS Group upgraded JinkoSolar from a “neutral” rating to a “buy” rating and lowered their target price for the stock from $24.00 to $17.00 in a research note on Friday. Finally, Zacks Research raised JinkoSolar from a “strong sell” rating to a “hold” rating in a report on Monday, October 26th. One investment analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating, two have assigned a Hold rating and two have given a Sell rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average price target of $16.62.

JinkoSolar Stock Performance

The stock’s 50-day simple moving average is $9.89 and its 200-day simple moving average is $18.62. The stock has a market cap of $551.39 million, a price-to-earnings ratio of -1.33 and a beta of 0.39. The company has a current ratio of 1.13, a quick ratio of 0.84 and a debt-to-equity ratio of 1.10.

JinkoSolar (NYSE:JKS) last released its quarterly earnings results on Friday, October 30th. The semiconductor company reported ($0.03) earnings per share for the quarter, beating analysts’ consensus estimates of ($2.11) by $2.08. The company had revenue of $2.03 billion during the quarter, compared to the consensus estimate of $2.42 billion. JinkoSolar had a negative net margin of 5.04% and a negative return on equity of 8.83%. Analysts forecast that JinkoSolar Holding Company Limited will post -4.95 earnings per share for the current fiscal year.

Hedge Funds Weigh In On JinkoSolar

Several hedge funds and other institutional investors have recently added to or reduced their stakes in JKS. Dimensional Fund Advisors LP raised its holdings in JinkoSolar by 0.4% in the 1st quarter. Dimensional Fund Advisors LP now owns 845,017 shares of the semiconductor company’s stock valued at $21,449,000 after acquiring an additional 3,118 shares in the last quarter. Himension Capital Singapore PTE. LTD. lifted its position 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 valued at $2,092,000 after acquiring an additional 3,961 shares during the period. Cetera Investment Advisers acquired a new stake in shares of JinkoSolar during the 1st quarter worth $307,000. Engineers Gate Manager LP acquired a new stake in shares of JinkoSolar during the 2nd quarter worth $298,000. Finally, Aberdeen Group plc acquired a new stake in shares of JinkoSolar during the 3rd quarter worth $275,000. 35.82% of the stock is owned by institutional investors and hedge funds.

About JinkoSolar

JinkoSolar Holding Co, Ltd. is a global solar photovoltaic (PV) manufacturer that develops and produces products used to convert sunlight into electricity. The company’s portfolio includes silicon wafers, solar cells, PV modules and related energy-storage products, serving utility-scale solar projects as well as commercial, industrial and residential customers.

Founded in 2006, JinkoSolar has developed a vertically integrated manufacturing business spanning much of the solar supply chain.