JinkoSolar (NYSE:JKS) Sets New 12-Month Low – Here’s Why

JinkoSolar Holding Company Limited (NYSE:JKS)’s share price reached a new 52-week low during trading on Thursday . The company traded as low as $14.57 and last traded at $14.63, with a volume of 488527 shares. The stock had previously closed at $14.93.

Wall Street Analysts Forecast Growth

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

JinkoSolar Stock Down 2.0%

The firm has a market cap of $766.17 million, a P/E ratio of -1.50 and a beta of 0.51. The firm’s 50 day moving average is $18.19 and its two-hundred day moving average is $22.78. The company has a current ratio of 1.26, a quick ratio of 0.95 and a debt-to-equity ratio of 1.16.

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

JinkoSolar Dividend Announcement

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

Insider Activity

In other news, Director Wing Keong Siew sold 16,000 shares of the company’s stock in a transaction that occurred on Tuesday, June 30th. The shares were sold at an average price of $16.49, for a total value of $263,840.00. Following the completion of the transaction, the director owned 170,000 shares in the company, valued at $2,803,300. This represents a 8.60% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, 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 transaction of $32,678,400.00. Following the completion of the sale, the director directly owned 10,349,612 shares in the company, valued at $264,225,594.36. This represents a 11.01% decrease in their ownership of the stock. 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 in the last quarter. 19.80% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently modified their holdings of the company. Raymond James Financial Inc. bought a new stake in JinkoSolar in the 2nd quarter valued at approximately $47,000. Banque Cantonale Vaudoise bought a new position in JinkoSolar in the fourth quarter valued at $58,000. Leonteq Securities AG bought a new stake in JinkoSolar during the 4th quarter worth about $101,000. Federation des caisses Desjardins du Quebec boosted its stake in shares of JinkoSolar by 277.9% during the 4th quarter. Federation des caisses Desjardins du Quebec now owns 7,086 shares of the semiconductor company’s stock worth $183,000 after buying an additional 5,211 shares during the last quarter. Finally, Cornerstone Investment Partners LLC acquired a new stake in shares of JinkoSolar in the fourth quarter valued at about $205,000. 35.82% of the stock is owned by institutional investors and hedge funds.

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.