JinkoSolar (NYSE:JKS) Shares Gap Down – Time to Sell?

JinkoSolar Holding Co., Ltd. (NYSE:JKS)’s stock price gapped down prior to trading on Thursday . The stock had previously closed at $19.28, but opened at $18.69. JinkoSolar shares last traded at $19.00, with a volume of 40,105 shares.

Wall Street Analysts Forecast Growth

JKS has been the topic of several recent research reports. UBS Group dropped their target price on shares of JinkoSolar from $25.00 to $22.00 and set a “neutral” rating on the stock in a report on Thursday, March 27th. Citigroup downgraded shares of JinkoSolar from a “buy” rating to a “sell” rating in a research note on Monday, May 5th. Finally, The Goldman Sachs Group reduced their price objective on shares of JinkoSolar from $20.00 to $18.00 and set a “sell” rating for the company in a research note on Thursday, March 27th. Four analysts have rated the stock with a sell rating, three have issued a hold rating and one has assigned a buy rating to the company’s stock. According to data from MarketBeat.com, JinkoSolar has a consensus rating of “Hold” and an average target price of $27.19.

JinkoSolar Stock Performance

The company has a current ratio of 1.22, a quick ratio of 0.97 and a debt-to-equity ratio of 0.81. The stock has a market cap of $1.00 billion, a PE ratio of 33.03 and a beta of 0.18. The business’s 50-day moving average price is $17.75 and its 200-day moving average price is $21.12.

JinkoSolar (NYSE:JKS) last released its quarterly earnings results on Tuesday, April 29th. The semiconductor company reported ($2.85) earnings per share (EPS) for the quarter, missing the consensus estimate of ($1.45) by ($1.40). JinkoSolar had a return on equity of 4.18% and a net margin of 0.53%. The firm had revenue of $1.91 billion during the quarter, compared to analysts’ expectations of $1.89 billion. During the same period in the prior year, the firm posted $1.34 earnings per share. JinkoSolar’s revenue for the quarter was down 39.9% compared to the same quarter last year. As a group, equities research analysts expect that JinkoSolar Holding Co., Ltd. will post -0.24 earnings per share for the current fiscal year.

JinkoSolar Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, July 16th. Investors of record on Wednesday, July 2nd will be given a dividend of $0.325 per share. This represents a $1.30 annualized dividend and a yield of 6.67%. JinkoSolar’s dividend payout ratio is currently -29.48%.

Institutional Investors Weigh In On JinkoSolar

Institutional investors have recently added to or reduced their stakes in the business. CoreCommodity Management LLC lifted its stake in JinkoSolar by 1.1% during the 4th quarter. CoreCommodity Management LLC now owns 61,559 shares of the semiconductor company’s stock valued at $1,533,000 after acquiring an additional 640 shares during the period. Mitsubishi UFJ Asset Management Co. Ltd. raised its holdings in shares of JinkoSolar by 5.3% during the fourth quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 20,289 shares of the semiconductor company’s stock worth $532,000 after purchasing an additional 1,028 shares during the last quarter. Banque Cantonale Vaudoise acquired a new position in JinkoSolar during the first quarter valued at $36,000. CANADA LIFE ASSURANCE Co acquired a new position in JinkoSolar during the fourth quarter valued at $55,000. Finally, DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main boosted its holdings in JinkoSolar by 85.1% in the fourth quarter. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main now owns 8,697 shares of the semiconductor company’s stock valued at $217,000 after purchasing an additional 3,998 shares during the last quarter. Institutional investors and hedge funds own 35.82% of the company’s stock.

About JinkoSolar

JinkoSolar Holding Co, Ltd., together with its subsidiaries, engages in the design, development, production, and marketing of photovoltaic products. The company offers solar modules, silicon wafers, solar cells, recovered silicon materials, and silicon ingots. It also provides solar system integration services; solar power generation and solar system EPC services; and energy storage system, as well as undertakes solar power projects.