JinkoSolar (NYSE:JKS) Shares Down 5% – Here’s Why

by · The Cerbat Gem

JinkoSolar Holding Company Limited (NYSE:JKS – Get Free Report)’s share price was down 5% on Tuesday . The company traded as low as $26.68 and last traded at $26.74. Approximately 87,219 shares were traded during mid-day trading, a decline of 88% from the average daily volume of 733,941 shares. The stock had previously closed at $28.15.

Analyst Ratings Changes

A number of equities research analysts have recently commented on JKS shares. Roth Capital lifted their price target on shares of JinkoSolar from $17.00 to $25.00 and gave the stock a “neutral” rating in a report on Friday, November 21st. UBS Group reaffirmed a “neutral” rating on shares of JinkoSolar in a research report on Friday, November 28th. Wall Street Zen lowered shares of JinkoSolar from a “hold” rating to a “sell” rating in a report on Saturday. The Goldman Sachs Group upped their price objective on JinkoSolar from $18.00 to $20.00 and gave the stock a “sell” rating in a report on Wednesday, November 19th. Finally, Weiss Ratings reaffirmed a “hold (c-)” rating on shares of JinkoSolar in a research report on Thursday. Three research analysts have rated the stock with a Hold rating and four have assigned a Sell rating to the company. According to data from MarketBeat, JinkoSolar has an average rating of “Strong Sell” and a consensus price target of $19.49.

View Our Latest Stock Analysis on JinkoSolar

JinkoSolar Trading Down 4.8%

The company has a current ratio of 1.30, a quick ratio of 1.02 and a debt-to-equity ratio of 1.07. The business has a 50 day simple moving average of $25.57 and a two-hundred day simple moving average of $23.88. The stock has a market cap of $1.38 billion, a price-to-earnings ratio of -2.92 and a beta of 0.49.

JinkoSolar (NYSE:JKS – Get Free Report) last released its earnings results on Monday, November 17th. The semiconductor company reported ($2.30) EPS for the quarter, beating the consensus estimate of ($2.56) by $0.26. The company had revenue of $2.27 billion during the quarter, compared to analysts’ expectations of $2.72 billion. JinkoSolar had a negative return on equity of 8.96% and a negative net margin of 4.98%. As a group, equities analysts anticipate that JinkoSolar Holding Company Limited will post -0.24 EPS for the current year.

Institutional Trading of JinkoSolar

Several institutional investors and hedge funds have recently bought and sold shares of JKS. MTM Investment Management LLC bought a new stake in shares of JinkoSolar in the 2nd quarter valued at approximately $28,000. Raymond James Financial Inc. acquired a new stake in shares of JinkoSolar during the second quarter worth $47,000. New York State Common Retirement Fund bought a new position in shares of JinkoSolar in the 3rd quarter worth about $182,000. FNY Investment Advisers LLC acquired a new position in shares of JinkoSolar in the 3rd quarter valued at about $225,000. Finally, JPMorgan Chase & Co. raised its stake in JinkoSolar by 7,759.6% during the second quarter. JPMorgan Chase & Co. now owns 11,082 shares of the semiconductor company’s stock worth $235,000 after acquiring an additional 10,941 shares during the period. Institutional investors and hedge funds own 35.82% of the company’s stock.

About JinkoSolar

(Get Free Report)

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.

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