JinkoSolar (NYSE:JKS) Shares Gap Down – Time to Sell?

JinkoSolar Holding Company Limited (NYSE:JKS) gapped down before the market opened on Monday . The stock had previously closed at $19.42, but opened at $18.42. JinkoSolar shares last traded at $18.3260, with a volume of 107,025 shares trading hands.

Analyst Ratings Changes

A number of equities research analysts have recently issued reports on JKS shares. UBS Group upped 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. 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 raised JinkoSolar from a “sell” rating to a “buy” rating and set a $28.50 price objective on the stock in a research note on Tuesday, March 24th. Weiss Ratings downgraded JinkoSolar from a “hold (c-)” rating to a “sell (d)” rating in a report on Wednesday, May 6th. Finally, Wall Street Zen raised JinkoSolar from a “sell” rating to a “hold” rating in a research note on Saturday, May 2nd. One equities research analyst has rated the stock with a Strong Buy rating, one has issued a Buy rating, three have assigned a Hold rating and two have assigned a Sell rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus target price of $24.38.

JinkoSolar Trading Down 7.1%

The stock has a market capitalization of $944.75 million, a P/E ratio of -1.85 and a beta of 0.52. The firm’s 50 day moving average price is $22.22 and its 200 day moving average price is $24.86. 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 posted its earnings results on Wednesday, April 29th. The semiconductor company reported ($1.52) earnings per share (EPS) for the quarter, topping the consensus estimate 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 company had revenue of $1.78 billion for the quarter, compared to analysts’ expectations of $2.09 billion. As a group, equities research analysts expect that JinkoSolar Holding Company Limited will post -2.76 earnings per share for the current fiscal year.

JinkoSolar Announces Dividend

The firm also recently disclosed an annual dividend, which will be paid on Thursday, July 9th. Stockholders of record on Monday, June 22nd will be given a $1.50 dividend. This represents a dividend yield of 832.0%. The ex-dividend date is Monday, June 22nd. JinkoSolar’s dividend payout ratio (DPR) is currently -13.14%.

Insider Activity at JinkoSolar

In related news, Director Xianhua Li sold 1,280,000 shares of JinkoSolar stock in a transaction on Wednesday, May 13th. The shares were sold at an average price of $25.53, for a total value of $32,678,400.00. Following the sale, the director owned 10,349,612 shares in the company, valued at $264,225,594.36. The trade was a 11.01% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. 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 transaction of $417,760.00. Following the transaction, the director directly owned 186,000 shares in the company, valued at approximately $4,856,460. The trade was a 7.92% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. 19.80% of the stock is currently owned by insiders.

Institutional Investors Weigh In On JinkoSolar

Several institutional investors and hedge funds have recently modified their holdings of the stock. SG Americas Securities LLC boosted its position in JinkoSolar by 189.9% during the 4th quarter. SG Americas Securities LLC now owns 194,231 shares of the semiconductor company’s stock valued at $5,013,000 after acquiring an additional 127,234 shares in the last quarter. Mitsubishi UFJ Trust & Banking Corp raised its position in shares of JinkoSolar by 72.5% in the 4th quarter. Mitsubishi UFJ Trust & Banking Corp now owns 83,404 shares of the semiconductor company’s stock worth $2,153,000 after acquiring an additional 35,057 shares in the last quarter. Capital Wealth Planning LLC purchased a new position in shares of JinkoSolar in the 4th quarter valued at approximately $3,299,000. Legal & General Group Plc lifted its stake in shares of JinkoSolar by 9,212.1% in the 4th quarter. Legal & General Group Plc now owns 499,964 shares of the semiconductor company’s stock valued at $12,904,000 after purchasing an additional 494,595 shares during the period. Finally, Dimensional Fund Advisors LP boosted its position in shares of JinkoSolar by 0.4% during the first quarter. Dimensional Fund Advisors LP now owns 845,017 shares of the semiconductor company’s stock valued at $21,449,000 after purchasing an additional 3,118 shares in the last quarter. 35.82% of the stock is owned by hedge funds and other institutional investors.

JinkoSolar Company Profile

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.