JinkoSolar (NYSE:JKS) Sets New 52-Week Low – Should You Sell?

JinkoSolar Holding Company Limited (NYSE:JKS)’s stock price reached a new 52-week low during trading on Tuesday . The stock traded as low as $18.13 and last traded at $18.1040, with a volume of 560952 shares changing hands. The stock had previously closed at $19.61.

Analysts Set New Price Targets

A number of equities research analysts recently commented on JKS shares. UBS Group lifted their target price on JinkoSolar from $23.00 to $24.00 and gave the stock a “neutral” rating in a report on Friday, May 29th. Freedom Capital raised shares of JinkoSolar from a “hold” rating to a “strong-buy” rating in a report on Friday, April 17th. Zacks Research lowered shares of JinkoSolar from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, February 11th. Wall Street Zen raised shares of JinkoSolar from a “sell” rating to a “hold” rating in a research note on Saturday, May 2nd. Finally, Weiss Ratings cut shares of JinkoSolar from a “hold (c-)” rating to a “sell (d)” rating in a research note on Wednesday, May 6th. One equities research analyst has rated the stock with a Strong Buy rating, one has assigned a Buy rating, three have given a Hold rating and two have issued a Sell rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Hold” and a consensus price target of $24.38.

JinkoSolar Stock Down 7.5%

The company has a quick ratio of 0.95, a current ratio of 1.26 and a debt-to-equity ratio of 1.16. The company has a market capitalization of $950.41 million, a PE ratio of -1.86 and a beta of 0.52. The firm has a 50-day moving average of $23.22 and a two-hundred day moving average of $25.29.

JinkoSolar (NYSE:JKS) last released 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. JinkoSolar had a negative return on equity of 9.52% and a negative net margin of 5.62%.The business had revenue of $1.78 billion during the quarter, compared to analysts’ expectations of $2.09 billion. Equities research analysts predict that JinkoSolar Holding Company Limited will post -2.76 earnings per share for the current fiscal year.

Insider Buying and Selling at JinkoSolar

In other news, Director Xianhua Li sold 1,280,000 shares of the firm’s stock in a transaction on Wednesday, May 13th. The stock was sold at an average price of $25.53, for a total transaction of $32,678,400.00. Following the completion of the transaction, the director directly owned 10,349,612 shares in the company, valued at $264,225,594.36. This trade represents a 11.01% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, Director Wing Keong Siew sold 16,000 shares of the business’s stock in a transaction on Wednesday, May 13th. The shares were sold at an average price of $26.11, for a total value of $417,760.00. Following the completion of the sale, the director owned 186,000 shares in the company, valued at $4,856,460. This represents a 7.92% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Company insiders own 19.80% of the company’s stock.

Institutional Investors Weigh In On JinkoSolar

A number of hedge funds have recently added to or reduced their stakes in the business. Raymond James Financial Inc. purchased a new position in JinkoSolar in the 2nd quarter valued at approximately $47,000. Banque Cantonale Vaudoise purchased a new stake in shares of JinkoSolar during the fourth quarter worth $58,000. Leonteq Securities AG acquired a new stake in shares of JinkoSolar in the fourth quarter valued at $101,000. New York State Common Retirement Fund acquired a new stake in shares of JinkoSolar in the third quarter valued at $182,000. Finally, Federation des caisses Desjardins du Quebec boosted its holdings in JinkoSolar by 277.9% in the fourth quarter. Federation des caisses Desjardins du Quebec now owns 7,086 shares of the semiconductor company’s stock valued at $183,000 after purchasing an additional 5,211 shares during the period. 35.82% of the stock is currently 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.