JinkoSolar (NYSE:JKS) Downgraded by Wall Street Zen to Sell

Wall Street Zen lowered shares of JinkoSolar (NYSE:JKS) from a hold rating to a sell rating in a research report released on Saturday morning.

Several other equities research analysts have also commented on JKS. UBS Group increased their price objective on shares of JinkoSolar from $23.00 to $24.00 and gave the company a “neutral” rating in a research note on Friday, May 29th. The Goldman Sachs Group set a $11.00 target price on JinkoSolar in a research note on Thursday. Weiss Ratings reaffirmed a “sell (d)” rating on shares of JinkoSolar in a report on Monday, August 3rd. Finally, Roth Capital decreased their price target on JinkoSolar from $25.00 to $16.00 and set a “neutral” rating for the company in a research report on Thursday. One investment analyst has rated the stock with a Strong Buy rating, one has issued a Buy rating, four have given a Hold rating and two have assigned a Sell rating to the company’s stock. According to MarketBeat, JinkoSolar has an average rating of “Hold” and an average target price of $19.88.

JinkoSolar Stock Performance

Shares of JKS stock opened at $13.58 on Friday. The firm has a 50-day moving average of $15.96 and a 200-day moving average of $21.02. The company has a market cap of $711.18 million, a P/E ratio of -1.46 and a beta of 0.52. The company has a debt-to-equity ratio of 1.16, a current ratio of 1.26 and a quick ratio of 0.95. JinkoSolar has a one year low of $13.04 and a one year high of $31.88.

JinkoSolar (NYSE:JKS) last released 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 net margin of 5.85% and a negative return on equity of 9.93%. The firm had revenue of $1.82 billion for the quarter, compared to the consensus estimate of $2.17 billion. Equities research analysts forecast that JinkoSolar will post -2.76 EPS for the current fiscal year.

JinkoSolar Announces Dividend

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

Insider Buying and Selling

In other JinkoSolar news, Director Wing Keong Siew sold 16,000 shares of JinkoSolar stock in a transaction dated Tuesday, June 30th. The shares were sold at an average price of $16.49, for a total value of $263,840.00. Following the sale, the director owned 170,000 shares of the company’s stock, valued at approximately $2,803,300. The trade was a 8.60% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Corporate insiders own 19.80% of the company’s stock.

Institutional Investors Weigh In On JinkoSolar

Several large investors have recently modified their holdings of the stock. Legal & General Group Plc increased its position in JinkoSolar by 9,212.1% in the fourth quarter. Legal & General Group Plc now owns 499,964 shares of the semiconductor company’s stock worth $12,904,000 after buying an additional 494,595 shares during the last quarter. Invesco Ltd. lifted its position in shares of JinkoSolar by 15.4% during the 4th quarter. Invesco Ltd. now owns 1,604,250 shares of the semiconductor company’s stock valued at $41,406,000 after buying an additional 213,935 shares during the last quarter. Hsbc Holdings PLC lifted its position in shares of JinkoSolar by 355.9% during the 1st quarter. Hsbc Holdings PLC now owns 189,569 shares of the semiconductor company’s stock valued at $4,817,000 after buying an additional 147,992 shares during the last quarter. Capital Wealth Planning LLC bought a new position in shares of JinkoSolar during the 4th quarter worth $3,299,000. Finally, Charles Schwab Investment Management Inc. grew its stake in shares of JinkoSolar by 35.6% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 414,228 shares of the semiconductor company’s stock worth $10,691,000 after acquiring an additional 108,744 shares during the period. Hedge funds and other 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.