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

JinkoSolar Holding Company Limited (NYSE:JKS) hit a new 52-week low on Wednesday . The stock traded as low as $15.31 and last traded at $15.2460, with a volume of 90934 shares changing hands. The stock had previously closed at $15.72.

Analyst Ratings Changes

Several brokerages have recently commented on JKS. Daiwa Securities Group upgraded JinkoSolar from a “sell” rating to a “buy” rating and set a $28.50 target price for the company in a research note on Tuesday, March 24th. Freedom Capital raised JinkoSolar from a “hold” rating to a “strong-buy” rating in a research note on Friday, April 17th. Weiss Ratings lowered JinkoSolar from a “hold (c-)” rating to a “sell (d)” rating in a report on Wednesday, May 6th. Wall Street Zen raised JinkoSolar from a “sell” rating to a “hold” rating in a research note on Saturday, May 2nd. Finally, UBS Group boosted their price objective on JinkoSolar from $23.00 to $24.00 and gave the company a “neutral” rating in a report on Friday, May 29th. One research 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 assigned a Sell rating to the stock. Based on data from MarketBeat, JinkoSolar currently has an average rating of “Hold” and a consensus price target of $24.38.

JinkoSolar Stock Down 3.8%

The company has a market cap of $792.04 million, a price-to-earnings 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 stock’s fifty day moving average is $20.76 and its two-hundred day moving average is $24.09.

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

JinkoSolar Announces Dividend

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

Insiders Place Their Bets

In other JinkoSolar news, Director Wing Keong Siew sold 16,000 shares of the firm’s stock in a transaction on Tuesday, June 30th. The stock was sold at an average price of $16.49, for a total transaction of $263,840.00. Following the transaction, the director directly owned 170,000 shares in the company, valued at approximately $2,803,300. This trade represents a 8.60% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Xianhua Li sold 1,280,000 shares of JinkoSolar 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 transaction, 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 sold a total of 1,312,000 shares of company stock valued at $33,360,000 over the last three months. 19.80% of the stock is currently owned by insiders.

Institutional Investors Weigh In On JinkoSolar

Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. Raymond James Financial Inc. bought a new position in shares of JinkoSolar during the 2nd quarter worth approximately $47,000. Banque Cantonale Vaudoise bought a new position in shares of JinkoSolar in the fourth quarter valued at approximately $58,000. Leonteq Securities AG purchased a new stake in shares of JinkoSolar during the fourth quarter valued at approximately $101,000. Federation des caisses Desjardins du Quebec lifted its holdings 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 acquiring an additional 5,211 shares during the period. Finally, Cornerstone Investment Partners LLC bought a new stake in JinkoSolar during the fourth quarter worth $205,000. Hedge funds and other institutional investors own 35.82% of the company’s stock.

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.