JinkoSolar (NYSE:JKS) Hits New 12-Month Low – What’s Next?

Shares of JinkoSolar Holding Company Limited (NYSE:JKS) hit a new 52-week low on Thursday . The stock traded as low as $14.57 and last traded at $14.63, with a volume of 488527 shares traded. The stock had previously closed at $14.93.

Wall Street Analyst Weigh In

Several brokerages have recently commented on JKS. Wall Street Zen upgraded JinkoSolar from a “sell” rating to a “hold” rating in a research note on Saturday, May 2nd. UBS Group upped their price objective on shares of JinkoSolar from $23.00 to $24.00 and gave the stock a “neutral” rating in a research note on Friday, May 29th. Weiss Ratings cut shares of JinkoSolar from a “hold (c-)” rating to a “sell (d)” rating in a report on Wednesday, May 6th. Finally, Freedom Capital raised shares of JinkoSolar from a “hold” rating to a “strong-buy” rating in a research report on Friday, April 17th. One 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 given a Sell rating to the stock. According to MarketBeat, JinkoSolar presently has a consensus rating of “Hold” and an average price target of $24.38.

JinkoSolar Price Performance

The firm has a 50-day simple moving average of $17.89 and a 200-day simple moving average of $22.64. The firm has a market cap of $795.50 million, a P/E ratio of -1.56 and a beta of 0.51. 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 quarterly earnings results on Wednesday, April 29th. The semiconductor company reported ($1.52) EPS for the quarter, topping the consensus estimate of ($1.84) by $0.32. The firm had revenue of $1.78 billion during the quarter, compared to analyst estimates of $2.09 billion. JinkoSolar had a negative return on equity of 9.52% and a negative net margin of 5.62%. As a group, analysts forecast that JinkoSolar Holding Company Limited will post -2.76 EPS for the current year.

JinkoSolar Announces Dividend

The business also recently announced an annual dividend, which was paid on Thursday, July 9th. Shareholders of record on Monday, June 22nd were paid a $1.50 dividend. This represents a yield of 837.0%. The ex-dividend date was Monday, June 22nd. JinkoSolar’s payout ratio is -15.20%.

Insider Transactions at JinkoSolar

In other news, Director Xianhua Li sold 1,280,000 shares of the firm’s stock in a transaction dated 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 directly owned 10,349,612 shares in the company, valued at approximately $264,225,594.36. This trade represents a 11.01% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Wing Keong Siew sold 16,000 shares of JinkoSolar stock in a transaction that occurred 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 completion of the transaction, the director directly owned 170,000 shares in the company, valued at approximately $2,803,300. The trade was a 8.60% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold 1,312,000 shares of company stock valued at $33,360,000 over the last quarter. 19.80% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On JinkoSolar

A number of hedge funds and other institutional investors have recently bought and sold shares of the company. Raymond James Financial Inc. acquired a new stake in JinkoSolar in the second quarter valued at approximately $47,000. Banque Cantonale Vaudoise acquired a new position in shares of JinkoSolar during the fourth quarter worth $58,000. Leonteq Securities AG purchased a new stake in shares of JinkoSolar during the 4th quarter valued at $101,000. Federation des caisses Desjardins du Quebec lifted its holdings in shares of JinkoSolar by 277.9% during the 4th 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 last quarter. Finally, Cornerstone Investment Partners LLC acquired a new stake in shares of JinkoSolar in the 4th quarter worth $205,000. Hedge funds and other institutional investors own 35.82% of the company’s stock.

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.