JinkoSolar (NYSE:JKS) Stock Price Down 6% – Should You Sell?

JinkoSolar Holding Company Limited (NYSE:JKS)’s share price fell 6% during mid-day trading on Monday . The company traded as low as $12.70 and last traded at $12.73. Approximately 496,038 shares changed hands during mid-day trading, a decline of 31% from the average daily volume of 714,565 shares. The stock had previously closed at $13.54.

Wall Street Analysts Forecast Growth

JKS has been the topic of a number of recent research reports. Roth Capital lowered their target price on JinkoSolar from $25.00 to $16.00 and set a “neutral” rating on the stock in a report on Thursday. Freedom Broker lowered JinkoSolar from a “strong-buy” rating to a “hold” rating in a research report on Thursday. Weiss Ratings reiterated a “sell (d)” rating on shares of JinkoSolar in a research note on Monday, August 3rd. 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. Finally, The Goldman Sachs Group set a $11.00 price objective on JinkoSolar in a report on Thursday. One research analyst has rated the stock with a Strong Buy rating, one has given a Buy rating, four have given a Hold rating and two have issued a Sell rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Hold” and a consensus price target of $19.88.

JinkoSolar Price Performance

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 stock has a market capitalization of $666.15 million, a PE ratio of -1.36 and a beta of 0.52. The company’s fifty day simple moving average is $15.96 and its two-hundred day simple moving average is $20.97.

JinkoSolar (NYSE:JKS) last posted its quarterly earnings data on Wednesday, August 26th. The semiconductor company reported ($2.53) EPS for the quarter, missing analysts’ consensus estimates of ($0.75) by ($1.78). The company had revenue of $1.82 billion for the quarter, compared to analysts’ expectations of $2.17 billion. JinkoSolar had a negative return on equity of 9.93% and a negative net margin of 5.85%. As a group, sell-side analysts predict that JinkoSolar Holding Company Limited will post -2.76 EPS for the current year.

JinkoSolar Announces Dividend

The business also recently disclosed an annual dividend, which was paid on Thursday, July 9th. Shareholders of record on Monday, June 22nd were paid a dividend of $1.50 per share. This represents a dividend yield of 837.0%. The ex-dividend date was Monday, June 22nd. JinkoSolar’s payout ratio is currently -15.86%.

Insider Buying and Selling

In related news, Director Wing Keong Siew sold 16,000 shares of the business’s stock in a transaction that occurred on Tuesday, June 30th. The stock was sold at an average price of $16.49, for a total transaction of $263,840.00. Following the transaction, the director directly owned 170,000 shares of the company’s stock, valued at approximately $2,803,300. The trade was a 8.60% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Company insiders own 19.80% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in JKS. Hsbc Holdings PLC raised its position in shares of JinkoSolar by 355.9% in the 1st quarter. Hsbc Holdings PLC now owns 189,569 shares of the semiconductor company’s stock valued at $4,817,000 after purchasing an additional 147,992 shares in the last quarter. Mitsubishi UFJ Trust & Banking Corp grew its holdings in shares of JinkoSolar by 72.5% in the 4th quarter. Mitsubishi UFJ Trust & Banking Corp now owns 83,404 shares of the semiconductor company’s stock worth $2,153,000 after acquiring an additional 35,057 shares during the last quarter. Renaissance Technologies LLC boosted its position in shares of JinkoSolar by 96.2% in the 1st quarter. Renaissance Technologies LLC now owns 82,200 shares of the semiconductor company’s stock valued at $2,089,000 after purchasing an additional 40,300 shares during the period. Capital Wealth Planning LLC acquired a new position in shares of JinkoSolar in the fourth quarter worth about $3,299,000. Finally, Legal & General Group Plc raised its holdings in shares of JinkoSolar by 9,212.1% during the fourth quarter. Legal & General Group Plc now owns 499,964 shares of the semiconductor company’s stock valued at $12,904,000 after acquiring an additional 494,595 shares during the period. 35.82% of the stock is owned by institutional investors and hedge funds.

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.