JinkoSolar (NYSE:JKS) Stock Price Down 6% – What’s Next?

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

Analyst Ratings Changes

A number of brokerages have weighed in on JKS. The Goldman Sachs Group set a $11.00 target price on JinkoSolar in a report on Thursday, August 27th. Weiss Ratings restated a “sell (d)” rating on shares of JinkoSolar in a report on Monday, August 3rd. Freedom Broker downgraded shares of JinkoSolar from a “strong-buy” rating to a “hold” rating in a research report on Thursday, August 27th. Wall Street Zen downgraded shares of JinkoSolar from a “hold” rating to a “sell” rating in a research report on Saturday. Finally, UBS Group boosted their target price on shares of JinkoSolar from $23.00 to $24.00 and gave the company a “neutral” rating in a research report on Friday, May 29th. One analyst has rated the stock with a Strong Buy rating, one has issued a Buy rating, four have issued a Hold rating and two have assigned a Sell rating to the stock. According to MarketBeat.com, the company has an average rating of “Hold” and a consensus target price of $19.88.

JinkoSolar Price Performance

The firm has a market capitalization of $654.10 million, a P/E ratio of -1.34 and a beta of 0.52. The business has a 50-day moving average of $15.76 and a 200 day moving average of $20.74. The company has a current ratio of 1.26, a quick ratio of 0.95 and a debt-to-equity ratio of 1.16.

JinkoSolar (NYSE:JKS) last posted its quarterly earnings results on Wednesday, August 26th. The semiconductor company reported ($2.53) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.75) by ($1.78). JinkoSolar had a negative return on equity of 9.93% and a negative net margin of 5.85%.The firm had revenue of $1.82 billion for the quarter, compared to analyst estimates of $2.17 billion. On average, sell-side analysts predict that JinkoSolar Holding Company Limited will post -5.63 earnings per share for the current fiscal year.

JinkoSolar Announces Dividend

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

Insider Activity

In related news, Director Wing Keong Siew sold 16,000 shares of JinkoSolar stock in a transaction on Tuesday, June 30th. The shares were sold at an average price of $16.49, for a total value of $263,840.00. Following the completion of the sale, the director owned 170,000 shares of the company’s stock, valued at approximately $2,803,300. This trade represents a 8.60% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. 19.80% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

A number of large investors have recently made changes to their positions in the business. Raymond James Financial Inc. acquired a new position in shares of JinkoSolar during the second quarter valued at about $47,000. Banque Cantonale Vaudoise acquired a new stake in shares of JinkoSolar in the 4th quarter worth about $58,000. Leonteq Securities AG bought a new position in JinkoSolar in the 4th quarter valued at about $101,000. Federation des caisses Desjardins du Quebec lifted its position in 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 acquiring an additional 5,211 shares in the last quarter. Finally, Janney Montgomery Scott LLC acquired a new position in JinkoSolar during the 4th quarter valued at about $209,000. 35.82% of the stock is owned by institutional investors.

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.