JinkoSolar (NYSE:JKS) Reaches New 1-Year Low – What’s Next?

JinkoSolar Holding Company Limited (NYSE:JKS) reached a new 52-week low during trading on Tuesday . The company traded as low as $17.30 and last traded at $17.33, with a volume of 531838 shares traded. The stock had previously closed at $17.97.

Analyst Upgrades and Downgrades

Several brokerages recently issued reports on JKS. Weiss Ratings lowered JinkoSolar from a “hold (c-)” rating to a “sell (d)” rating in a research report on Wednesday, May 6th. Freedom Capital raised shares of JinkoSolar from a “hold” rating to a “strong-buy” rating in a research note on Friday, April 17th. Daiwa Securities Group upgraded shares of JinkoSolar from a “sell” rating to a “buy” rating and set a $28.50 price target for the company in a report on Tuesday, March 24th. Wall Street Zen raised shares of JinkoSolar from a “sell” rating to a “hold” rating in a research report on Saturday, May 2nd. Finally, UBS Group raised their price objective on shares of JinkoSolar from $23.00 to $24.00 and gave the stock a “neutral” rating in a report on Friday, May 29th. One investment analyst has rated the stock with a Strong Buy rating, one has given a Buy rating, three have assigned a Hold rating and two have issued a Sell rating to the company’s stock. According to data from MarketBeat, JinkoSolar 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 $882.43 million, a price-to-earnings ratio of -1.73 and a beta of 0.52. The stock’s 50 day moving average price is $21.87 and its 200 day moving average price is $24.71. 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 released its earnings results on Wednesday, April 29th. The semiconductor company reported ($1.52) earnings per share (EPS) for the quarter, beating 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 for the quarter, compared to the consensus estimate of $2.09 billion. Analysts expect that JinkoSolar Holding Company Limited will post -2.76 earnings per share for the current year.

JinkoSolar Dividend Announcement

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

Insiders Place Their Bets

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

Institutional Trading of JinkoSolar

A number of hedge funds have recently made changes to their positions in JKS. Raymond James Financial Inc. acquired a new position in shares of JinkoSolar during the 2nd quarter worth approximately $47,000. Banque Cantonale Vaudoise acquired a new stake in JinkoSolar during the 4th quarter valued at $58,000. Leonteq Securities AG bought a new position in JinkoSolar during the fourth quarter worth $101,000. Federation des caisses Desjardins du Quebec boosted its position in JinkoSolar by 277.9% during the fourth quarter. Federation des caisses Desjardins du Quebec now owns 7,086 shares of the semiconductor company’s stock worth $183,000 after purchasing an additional 5,211 shares during the period. Finally, Cornerstone Investment Partners LLC acquired a new position in shares of JinkoSolar in the fourth quarter valued at $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.