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

JinkoSolar Holding Company Limited (NYSE:JKS) hit a new 52-week low during mid-day trading on Friday . The company traded as low as $14.78 and last traded at $15.0660, with a volume of 194074 shares traded. The stock had previously closed at $15.75.

Wall Street Analysts Forecast Growth

JKS has been the subject of several recent analyst reports. Freedom Capital raised shares of JinkoSolar from a “hold” rating to a “strong-buy” rating in a report on Friday, April 17th. Weiss Ratings downgraded JinkoSolar from a “hold (c-)” rating to a “sell (d)” rating in a research report on Wednesday, May 6th. UBS Group upped their price objective on JinkoSolar from $23.00 to $24.00 and gave the stock a “neutral” rating in a research note on Friday, May 29th. Finally, Wall Street Zen upgraded JinkoSolar from a “sell” rating to a “hold” rating in a research report on Saturday, May 2nd. One equities research analyst has rated the stock with a Strong Buy rating, one has issued a Buy rating, three have issued a Hold rating and two have given a Sell rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Hold” and an average target price of $24.38.

JinkoSolar Stock Performance

The company has a market capitalization of $792.62 million, a P/E ratio of -1.55 and a beta of 0.51. 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’s fifty day simple moving average is $18.86 and its 200-day simple moving average is $23.15.

JinkoSolar (NYSE:JKS) last released its quarterly earnings data on Wednesday, April 29th. The semiconductor company reported ($1.52) EPS for the quarter, beating the consensus estimate of ($1.84) by $0.32. JinkoSolar had a negative net margin of 5.62% and a negative return on equity of 9.52%. The business had revenue of $1.78 billion during the quarter, compared to the consensus estimate of $2.09 billion. As a group, equities analysts anticipate that JinkoSolar Holding Company Limited will post -2.76 earnings per share for the current fiscal year.

JinkoSolar Dividend Announcement

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

Insider Activity at JinkoSolar

In related news, Director Xianhua Li sold 1,280,000 shares of the business’s stock in a transaction on Wednesday, May 13th. The shares were sold at an average price of $25.53, for a total value of $32,678,400.00. Following the sale, the director owned 10,349,612 shares in the company, valued at approximately $264,225,594.36. The trade was a 11.01% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director Wing Keong Siew sold 16,000 shares of the company’s stock in a transaction on 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 in the company, valued at approximately $2,803,300. The trade was a 8.60% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold a total of 1,312,000 shares of company stock worth $33,360,000 over the last ninety days. Insiders own 19.80% of the company’s stock.

Hedge Funds Weigh In On JinkoSolar

Institutional investors and hedge funds have recently made changes to their positions in the business. SG Americas Securities LLC raised its position in shares of JinkoSolar by 189.9% during the 4th quarter. SG Americas Securities LLC now owns 194,231 shares of the semiconductor company’s stock valued at $5,013,000 after buying an additional 127,234 shares in the last quarter. Mitsubishi UFJ Trust & Banking Corp grew its position in JinkoSolar by 72.5% in the fourth quarter. Mitsubishi UFJ Trust & Banking Corp now owns 83,404 shares of the semiconductor company’s stock worth $2,153,000 after acquiring an additional 35,057 shares in the last quarter. Capital Wealth Planning LLC purchased a new position in JinkoSolar in the fourth quarter worth about $3,299,000. Legal & General Group Plc increased its stake in JinkoSolar by 9,212.1% during the fourth quarter. Legal & General Group Plc now owns 499,964 shares of the semiconductor company’s stock worth $12,904,000 after acquiring an additional 494,595 shares during the last quarter. Finally, Leonteq Securities AG bought a new stake in JinkoSolar during the fourth quarter worth approximately $101,000. 35.82% of the stock is 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.