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

JinkoSolar Holding Company Limited (NYSE:JKS)’s stock price hit a new 52-week low during mid-day trading on Friday . The company traded as low as $14.78 and last traded at $15.0660, with a volume of 194074 shares trading hands. The stock had previously closed at $15.75.

Wall Street Analyst Weigh In

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

JinkoSolar Trading Down 5.8%

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 company has a market capitalization of $776.96 million, a PE ratio of -1.52 and a beta of 0.51. The stock has a fifty day moving average of $18.66 and a 200 day moving average of $23.09.

JinkoSolar (NYSE:JKS) last announced its quarterly earnings data 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 analyst estimates of $2.09 billion. JinkoSolar had a negative net margin of 5.62% and a negative return on equity of 9.52%. As a group, sell-side analysts predict that JinkoSolar Holding Company Limited will post -2.76 earnings per share for the current fiscal year.

JinkoSolar Dividend Announcement

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

Insiders Place Their Bets

In other JinkoSolar news, Director Wing Keong Siew sold 16,000 shares of the stock in a transaction dated Tuesday, June 30th. The shares were sold at an average price of $16.49, for a total transaction of $263,840.00. Following the completion of the transaction, the director owned 170,000 shares of the company’s stock, valued at $2,803,300. This represents a 8.60% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Xianhua Li sold 1,280,000 shares of the 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 of the company’s stock, valued at $264,225,594.36. This trade represents a 11.01% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last quarter, insiders sold 1,312,000 shares of company stock worth $33,360,000. 19.80% of the stock is currently owned by insiders.

Institutional Investors Weigh In On JinkoSolar

A number of hedge funds have recently made changes to their positions in the company. Raymond James Financial Inc. bought a new stake in JinkoSolar in the 2nd quarter worth approximately $47,000. Banque Cantonale Vaudoise purchased a new stake in shares of JinkoSolar during the 4th quarter worth approximately $58,000. Leonteq Securities AG bought a new position in shares of JinkoSolar during the 4th quarter valued at approximately $101,000. Federation des caisses Desjardins du Quebec boosted its position 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 acquiring an additional 5,211 shares during the last quarter. Finally, Cornerstone Investment Partners LLC purchased a new stake in JinkoSolar during the fourth quarter valued at $205,000. 35.82% of the stock is currently owned by hedge funds and other institutional investors.

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.