JinkoSolar (NYSE:JKS) Sets New 1-Year Low – What’s Next?

JinkoSolar Holding Company Limited (NYSE:JKS) reached a new 52-week low during trading on Wednesday . The company traded as low as $15.31 and last traded at $15.2460, with a volume of 90934 shares changing hands. The stock had previously closed at $15.72.

Analyst Upgrades and Downgrades

Several brokerages recently weighed in on JKS. Wall Street Zen upgraded shares of JinkoSolar from a “sell” rating to a “hold” rating in a research report on Saturday, May 2nd. Daiwa Securities Group upgraded shares of JinkoSolar from a “sell” rating to a “buy” rating and set a $28.50 price objective for the company in a research report on Tuesday, March 24th. Weiss Ratings cut shares of JinkoSolar from a “hold (c-)” rating to a “sell (d)” rating in a research note on Wednesday, May 6th. Freedom Capital upgraded shares of JinkoSolar from a “hold” rating to a “strong-buy” rating in a report on Friday, April 17th. Finally, UBS Group upped 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 research analyst has rated the stock with a Strong Buy rating, one has issued a Buy rating, three have assigned a Hold rating and two have issued a Sell rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus target price 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 business has a 50-day moving average of $20.49 and a 200-day moving average of $23.92. The company has a market capitalization of $821.74 million, a P/E ratio of -1.61 and a beta of 0.51.

JinkoSolar (NYSE:JKS) last announced its earnings results on Wednesday, April 29th. The semiconductor company reported ($1.52) earnings per share for the quarter, beating the consensus estimate of ($1.84) by $0.32. The business had revenue of $1.78 billion for the quarter, compared to the consensus estimate of $2.09 billion. JinkoSolar had a negative net margin of 5.62% and a negative return on equity of 9.52%. On average, sell-side analysts anticipate that JinkoSolar Holding Company Limited will post -2.76 EPS for the current year.

JinkoSolar Announces Dividend

The company also recently declared 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 is presently -15.20%.

Insider Transactions at JinkoSolar

In other news, Director Wing Keong Siew sold 16,000 shares of the company’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 owned 170,000 shares of the company’s stock, valued at approximately $2,803,300. This represents a 8.60% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, Director Xianhua Li sold 1,280,000 shares of the company’s stock in a transaction that occurred on Wednesday, May 13th. The shares were sold at an average price of $25.53, for a total value of $32,678,400.00. Following the transaction, the director directly owned 10,349,612 shares in the company, valued at approximately $264,225,594.36. This represents a 11.01% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold a total of 1,312,000 shares of company stock worth $33,360,000 over the last three months. 19.80% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On JinkoSolar

A number of large investors have recently bought and sold shares of JKS. Invesco Ltd. increased its stake in JinkoSolar by 15.4% in the fourth quarter. Invesco Ltd. now owns 1,604,250 shares of the semiconductor company’s stock worth $41,406,000 after purchasing an additional 213,935 shares during the period. Mackenzie Financial Corp boosted its stake in shares of JinkoSolar by 1.5% during the fourth quarter. Mackenzie Financial Corp now owns 1,381,478 shares of the semiconductor company’s stock valued at $36,289,000 after purchasing an additional 20,000 shares during the period. Dimensional Fund Advisors LP grew its holdings in shares of JinkoSolar by 0.4% in the first quarter. Dimensional Fund Advisors LP now owns 845,017 shares of the semiconductor company’s stock worth $21,449,000 after purchasing an additional 3,118 shares during the last quarter. State Street Corp grew its holdings in shares of JinkoSolar by 8.0% in the fourth quarter. State Street Corp now owns 735,159 shares of the semiconductor company’s stock worth $18,978,000 after purchasing an additional 54,661 shares during the last quarter. Finally, Legal & General Group Plc increased its stake in JinkoSolar by 9,212.1% in the 4th 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 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.