JinkoSolar (NYSE:JKS) Reaches New 52-Week Low – What’s Next?
by Tristan Rich · The Markets DailyShares of JinkoSolar Holding Company Limited (NYSE:JKS – Get Free Report) hit a new 52-week low during trading on Tuesday . The stock traded as low as $17.30 and last traded at $17.33, with a volume of 531838 shares traded. The stock had previously closed at $17.97.
Analysts Set New Price Targets
Several brokerages recently weighed in on JKS. Daiwa Securities Group raised JinkoSolar from a “sell” rating to a “buy” rating and set a $28.50 price objective for the company in a report on Tuesday, March 24th. UBS Group increased their target price on JinkoSolar from $23.00 to $24.00 and gave the stock a “neutral” rating in a report on Friday, May 29th. Wall Street Zen upgraded JinkoSolar from a “sell” rating to a “hold” rating in a report on Saturday, May 2nd. Freedom Capital raised JinkoSolar from a “hold” rating to a “strong-buy” rating in a research report on Friday, April 17th. Finally, Weiss Ratings cut JinkoSolar from a “hold (c-)” rating to a “sell (d)” rating in a research note on Wednesday, May 6th. One research analyst has rated the stock with a Strong Buy rating, one has given a Buy rating, three have issued a Hold rating and two have given a Sell rating to the company’s stock. According to data from MarketBeat, JinkoSolar has a consensus rating of “Hold” and a consensus target price of $24.38.
View Our Latest Stock Report on JKS
JinkoSolar Trading Down 3.6%
The stock has a market cap of $907.57 million, a price-to-earnings ratio of -1.78 and a beta of 0.52. The firm’s 50 day moving average is $22.12 and its two-hundred day moving average is $24.81. The company has a quick ratio of 0.95, a current ratio of 1.26 and a debt-to-equity ratio of 1.16.
JinkoSolar (NYSE:JKS – Get Free Report) last issued its earnings results on Wednesday, April 29th. The semiconductor company reported ($1.52) EPS for the quarter, beating analysts’ consensus estimates of ($1.84) by $0.32. The company had revenue of $1.78 billion during the quarter, compared to the consensus estimate of $2.09 billion. JinkoSolar had a negative return on equity of 9.52% and a negative net margin of 5.62%. Equities analysts anticipate that JinkoSolar Holding Company Limited will post -2.76 EPS for the current year.
JinkoSolar Announces Dividend
The business also recently declared an annual dividend, which will be paid on Thursday, July 9th. Investors of record on Monday, June 22nd will be issued a $1.50 dividend. The ex-dividend date of this dividend is Monday, June 22nd. This represents a dividend yield of 837.0%. JinkoSolar’s dividend payout ratio (DPR) is -15.20%.
Insider Buying and Selling
In related news, Director Xianhua Li sold 1,280,000 shares of the company’s stock in a transaction on Wednesday, May 13th. The stock was sold at an average price of $25.53, for a total transaction of $32,678,400.00. Following the completion of the transaction, the director directly owned 10,349,612 shares in the company, valued at $264,225,594.36. This represents a 11.01% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Wing Keong Siew sold 16,000 shares of the stock in a transaction on Wednesday, May 13th. The stock was sold at an average price of $26.11, for a total value of $417,760.00. Following the completion of the sale, the director directly owned 186,000 shares in the company, valued at $4,856,460. This represents a 7.92% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders own 19.80% of the company’s stock.
Institutional Inflows and Outflows
Several institutional investors and hedge funds have recently bought and sold shares of JKS. Banque Cantonale Vaudoise raised its holdings in shares of JinkoSolar by 37.5% during the first quarter. Banque Cantonale Vaudoise now owns 3,079 shares of the semiconductor company’s stock valued at $78,000 after buying an additional 839 shares during the last quarter. Trexquant Investment LP grew its holdings in JinkoSolar by 2.1% in the 4th quarter. Trexquant Investment LP now owns 42,378 shares of the semiconductor company’s stock worth $1,094,000 after buying an additional 889 shares in the last quarter. Police & Firemen s Retirement System of New Jersey increased its position in JinkoSolar by 7.7% in the 4th quarter. Police & Firemen s Retirement System of New Jersey now owns 17,065 shares of the semiconductor company’s stock valued at $440,000 after acquiring an additional 1,219 shares during the period. Raymond James Financial Inc. acquired a new stake in JinkoSolar in the 2nd quarter valued at approximately $47,000. Finally, Daiwa Securities Group Inc. raised its stake in JinkoSolar by 18.1% during the 4th quarter. Daiwa Securities Group Inc. now owns 17,600 shares of the semiconductor company’s stock valued at $454,000 after acquiring an additional 2,700 shares in the last quarter. Institutional investors own 35.82% of the company’s stock.
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.