JinkoSolar (NYSE:JKS) Sets New 1-Year Low at $21.56

Shares of JinkoSolar Holding Co., Ltd. (NYSE:JKS) reached a new 52-week low on Wednesday . The company traded as low as $21.56 and last traded at $21.60, with a volume of 930345 shares changing hands. The stock had previously closed at $22.51.

Wall Street Analysts Forecast Growth

JKS has been the topic of a number of recent research reports. HSBC reissued a “hold” rating and issued a $30.00 target price on shares of JinkoSolar in a report on Monday, February 5th. Roth Mkm restated a “neutral” rating and issued a $25.00 price target (down previously from $50.00) on shares of JinkoSolar in a research report on Thursday, March 21st. Roth Capital cut JinkoSolar from a “buy” rating to a “neutral” rating in a research report on Thursday, March 21st. StockNews.com cut JinkoSolar from a “hold” rating to a “sell” rating in a research report on Wednesday. Finally, Daiwa Capital Markets cut JinkoSolar from an “outperform” rating to a “neutral” rating and set a $25.00 price target for the company. in a research report on Monday, February 5th. Two equities research analysts have rated the stock with a sell rating and five have given a hold rating to the company. According to data from MarketBeat.com, JinkoSolar currently has a consensus rating of “Hold” and a consensus price target of $26.60.

JinkoSolar Price Performance

The company has a debt-to-equity ratio of 0.52, a current ratio of 1.04 and a quick ratio of 0.81. The firm has a 50-day moving average of $25.63 and a 200-day moving average of $29.46. The stock has a market cap of $1.13 billion, a PE ratio of 2.87 and a beta of 0.37.

JinkoSolar (NYSE:JKS) last released its earnings results on Wednesday, March 20th. The semiconductor company reported $1.21 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.32 by ($1.11). JinkoSolar had a return on equity of 11.85% and a net margin of 2.89%. The business had revenue of $4.62 billion for the quarter, compared to analysts’ expectations of $4.08 billion. Research analysts predict that JinkoSolar Holding Co., Ltd. will post 5.27 EPS for the current year.

Institutional Trading of JinkoSolar

Institutional investors have recently made changes to their positions in the business. Mackenzie Financial Corp grew its holdings in JinkoSolar by 22.6% during the 3rd quarter. Mackenzie Financial Corp now owns 2,678,032 shares of the semiconductor company’s stock valued at $78,895,000 after buying an additional 493,976 shares in the last quarter. BlackRock Inc. grew its holdings in JinkoSolar by 16.2% during the 1st quarter. BlackRock Inc. now owns 2,632,512 shares of the semiconductor company’s stock valued at $127,123,000 after buying an additional 366,251 shares in the last quarter. Morgan Stanley grew its holdings in JinkoSolar by 65.7% during the 3rd quarter. Morgan Stanley now owns 2,026,002 shares of the semiconductor company’s stock valued at $61,530,000 after buying an additional 803,164 shares in the last quarter. Invesco Ltd. grew its holdings in JinkoSolar by 10.0% during the 3rd quarter. Invesco Ltd. now owns 1,657,885 shares of the semiconductor company’s stock valued at $50,350,000 after buying an additional 150,262 shares in the last quarter. Finally, Vanguard Group Inc. grew its holdings in JinkoSolar by 1.4% during the 4th quarter. Vanguard Group Inc. now owns 1,576,610 shares of the semiconductor company’s stock valued at $58,240,000 after buying an additional 22,254 shares in the last quarter. Hedge funds and other institutional investors own 35.82% of the company’s stock.

JinkoSolar Company Profile

JinkoSolar Holding Co, Ltd., together with its subsidiaries, engages in the design, development, production, and marketing of photovoltaic products. The company offers solar modules, silicon wafers, solar cells, recovered silicon materials, and silicon ingots. It also provides solar system integration services; and develops commercial solar power projects.