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

JinkoSolar Holding Company Limited (NYSE:JKS) reached a new 52-week low during trading on Wednesday . The company traded as low as $9.98 and last traded at $10.03, with a volume of 316791 shares trading hands. The stock had previously closed at $10.48.

Analyst Ratings Changes

Several equities analysts have issued reports on JKS shares. UBS Group boosted their price objective 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. Zacks Research lowered JinkoSolar from a “hold” rating to a “strong sell” rating in a report on Thursday, September 3rd. The Goldman Sachs Group set a $11.00 price objective on JinkoSolar in a research report on Thursday, August 27th. Freedom Broker downgraded JinkoSolar from a “strong-buy” rating to a “hold” rating in a report on Thursday, August 27th. Finally, Wall Street Zen lowered shares of JinkoSolar from a “hold” rating to a “sell” rating in a research report on Saturday, August 29th. One analyst has rated the stock with a Strong Buy rating, one has given a Buy rating, three have issued a Hold rating and three have issued a Sell rating to the company. According to MarketBeat.com, the company currently has an average rating of “Hold” and an average target price of $19.88.

JinkoSolar Price Performance

The firm has a market capitalization of $521.08 million, a PE ratio of -1.07 and a beta of 0.51. The company has a 50-day moving average price of $14.36 and a 200-day moving average price of $19.18. The company has a debt-to-equity ratio of 1.16, a current ratio of 1.26 and a quick ratio of 0.95.

JinkoSolar (NYSE:JKS) last released its quarterly earnings data on Wednesday, August 26th. The semiconductor company reported ($2.53) EPS for the quarter, missing analysts’ consensus estimates of ($0.75) by ($1.78). JinkoSolar had a negative return on equity of 9.93% and a negative net margin of 5.85%.The firm had revenue of $1.82 billion during the quarter, compared to analysts’ expectations of $2.17 billion. Sell-side analysts forecast that JinkoSolar Holding Company Limited will post -5.63 EPS for the current year.

Insiders Place Their Bets

In related news, Director Wing Siew sold 16,000 shares of JinkoSolar stock in a transaction on Tuesday, June 30th. The shares were sold at an average price of $16.49, for a total transaction of $263,840.00. Following the sale, the director owned 170,000 shares of the company’s stock, valued at $2,803,300. The trade was a 8.60% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Insiders own 19.80% of the company’s stock.

Hedge Funds Weigh In On JinkoSolar

A number of institutional investors have recently made changes to their positions in the business. Engineers Gate Manager LP acquired a new stake in JinkoSolar in the second quarter valued at $298,000. Renaissance Technologies LLC increased its holdings in shares of JinkoSolar by 96.2% in the 1st quarter. Renaissance Technologies LLC now owns 82,200 shares of the semiconductor company’s stock valued at $2,089,000 after acquiring an additional 40,300 shares during the last quarter. Cetera Investment Advisers acquired a new stake in shares of JinkoSolar during the 1st quarter valued at approximately $307,000. Himension Capital Singapore PTE. LTD. lifted its stake in JinkoSolar by 5.1% during the first quarter. Himension Capital Singapore PTE. LTD. now owns 82,319 shares of the semiconductor company’s stock worth $2,092,000 after purchasing an additional 3,961 shares during the last quarter. Finally, Dimensional Fund Advisors LP lifted its stake in JinkoSolar by 0.4% during the first quarter. Dimensional Fund Advisors LP now owns 845,017 shares of the semiconductor company’s stock worth $21,449,000 after purchasing an additional 3,118 shares during the last quarter. 35.82% of the stock is owned by institutional investors and hedge funds.

About JinkoSolar

JinkoSolar Holding Co, Ltd. is a global solar photovoltaic (PV) product manufacturer. Through its principal operating subsidiary, Jiangxi Jinko, the company develops and produces silicon wafers, solar cells, and PV modules used in utility-scale, commercial, industrial, and residential solar power systems. Its product portfolio includes high-efficiency monocrystalline modules marketed under the Tiger and Tiger Neo product families.

JinkoSolar also provides energy storage products and related system solutions, supporting the integration of renewable power into electricity networks and on-site energy systems.