JinkoSolar (NYSE:JKS) Reaches New 12-Month Low – Here’s Why

JinkoSolar Holding Company Limited (NYSE:JKS)’s share price hit a new 52-week low on Monday . The company traded as low as $15.53 and last traded at $15.6610, with a volume of 484381 shares trading hands. The stock had previously closed at $16.28.

Wall Street Analysts Forecast Growth

Several equities research analysts have commented on JKS shares. Wall Street Zen upgraded JinkoSolar from a “sell” rating to a “hold” rating in a research note on Saturday, May 2nd. Daiwa Securities Group upgraded JinkoSolar from a “sell” rating to a “buy” rating and set a $28.50 target price on the stock in a research report on Tuesday, March 24th. Freedom Capital raised JinkoSolar from a “hold” rating to a “strong-buy” rating in a research note on Friday, April 17th. Weiss Ratings cut JinkoSolar from a “hold (c-)” rating to a “sell (d)” rating in a research report on Wednesday, May 6th. Finally, UBS Group increased their price objective on JinkoSolar from $23.00 to $24.00 and gave the company a “neutral” rating in a research note on Friday, May 29th. One analyst has rated the stock with a Strong Buy rating, one has assigned a Buy rating, three have given a Hold rating and two have given a Sell rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and an average price target of $24.38.

JinkoSolar Stock Performance

The company has a debt-to-equity ratio of 1.16, a current ratio of 1.26 and a quick ratio of 0.95. The company has a market cap of $883.27 million, a price-to-earnings ratio of -1.73 and a beta of 0.52. The firm has a 50 day simple moving average of $21.37 and a 200-day simple moving average of $24.46.

JinkoSolar (NYSE:JKS) last released its quarterly earnings results on Wednesday, April 29th. The semiconductor company reported ($1.52) earnings per share for the quarter, topping analysts’ consensus estimates of ($1.84) by $0.32. The business had revenue of $1.78 billion during the quarter, compared to analysts’ expectations 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 predict that JinkoSolar Holding Company Limited will post -2.76 EPS for the current fiscal year.

JinkoSolar Dividend Announcement

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

Insider Transactions at JinkoSolar

In other JinkoSolar news, Director Xianhua Li sold 1,280,000 shares of JinkoSolar 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 completion of the sale, the director directly owned 10,349,612 shares in the company, valued at $264,225,594.36. This trade represents a 11.01% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Wing Keong Siew sold 16,000 shares of the business’s stock in a transaction that occurred on Wednesday, May 13th. The shares were sold at an average price of $26.11, for a total transaction 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 trade represents a 7.92% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. 19.80% of the stock is owned by company insiders.

Institutional Trading of JinkoSolar

A number of institutional investors and hedge funds have recently added to or reduced their stakes in JKS. Raymond James Financial Inc. purchased a new position in shares of JinkoSolar during the second quarter worth $47,000. Banque Cantonale Vaudoise purchased a new stake in shares of JinkoSolar in the 4th quarter valued at $58,000. Leonteq Securities AG purchased a new stake in shares of JinkoSolar in the 4th quarter valued at $101,000. Federation des caisses Desjardins du Quebec raised its holdings in shares of JinkoSolar by 277.9% in 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 buying an additional 5,211 shares during the period. Finally, Cornerstone Investment Partners LLC acquired a new position in JinkoSolar during the 4th quarter worth about $205,000. Hedge funds and other 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.