JinkoSolar (NYSE:JKS) Stock Price Down 8.2% – Here’s What Happened

JinkoSolar Holding Company Limited (NYSE:JKS)’s stock price traded down 8.2% during mid-day trading on Tuesday . The company traded as low as $26.52 and last traded at $27.0740. 229,231 shares changed hands during mid-day trading, a decline of 72% from the average session volume of 814,158 shares. The stock had previously closed at $29.50.

Wall Street Analyst Weigh In

Several equities analysts have recently weighed in on the company. Zacks Research upgraded JinkoSolar from a “hold” rating to a “strong-buy” rating in a report on Tuesday, January 13th. UBS Group restated a “neutral” rating on shares of JinkoSolar in a report on Friday, November 28th. Weiss Ratings reaffirmed a “hold (c-)” rating on shares of JinkoSolar in a research note on Wednesday, December 24th. Wall Street Zen raised shares of JinkoSolar from a “sell” rating to a “hold” rating in a research report on Saturday, January 10th. Finally, The Goldman Sachs Group raised their price objective on shares of JinkoSolar from $18.00 to $20.00 and gave the stock a “sell” rating in a report on Wednesday, November 19th. One research analyst has rated the stock with a Strong Buy rating, three have assigned a Hold rating and three have assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Reduce” and an average price target of $19.49.

JinkoSolar Stock Up 1.1%

The stock’s fifty day moving average price is $26.88 and its 200-day moving average price is $24.96. The company has a quick ratio of 1.02, a current ratio of 1.30 and a debt-to-equity ratio of 1.07. The company has a market capitalization of $1.32 billion, a price-to-earnings ratio of -2.79 and a beta of 0.52.

JinkoSolar (NYSE:JKS) last announced its earnings results on Monday, November 17th. The semiconductor company reported ($2.30) EPS for the quarter, topping the consensus estimate of ($2.56) by $0.26. JinkoSolar had a negative net margin of 4.98% and a negative return on equity of 8.96%. The business had revenue of $2.27 billion during the quarter, compared to analysts’ expectations of $2.72 billion. On average, sell-side analysts predict that JinkoSolar Holding Company Limited will post -0.24 earnings per share for the current fiscal year.

Institutional Trading of JinkoSolar

Institutional investors and hedge funds have recently bought and sold shares of the stock. Public Employees Retirement System of Ohio raised its holdings in shares of JinkoSolar by 51.3% in the 2nd quarter. Public Employees Retirement System of Ohio now owns 33,900 shares of the semiconductor company’s stock valued at $719,000 after purchasing an additional 11,500 shares during the period. Mitsubishi UFJ Asset Management Co. Ltd. increased its position in JinkoSolar by 18.2% during the second quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 23,449 shares of the semiconductor company’s stock worth $498,000 after buying an additional 3,608 shares during the last quarter. Geode Capital Management LLC increased its position in JinkoSolar by 9.9% during the second quarter. Geode Capital Management LLC now owns 37,671 shares of the semiconductor company’s stock worth $799,000 after buying an additional 3,394 shares during the last quarter. MTM Investment Management LLC bought a new stake in JinkoSolar in the second quarter valued at approximately $28,000. Finally, JPMorgan Chase & Co. lifted its position in shares of JinkoSolar by 7,759.6% in the second quarter. JPMorgan Chase & Co. now owns 11,082 shares of the semiconductor company’s stock valued at $235,000 after buying an additional 10,941 shares during the last quarter. 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.