Hsbc Holdings PLC Boosts Stake in JinkoSolar Holding Company Limited $JKS

Key Points

• Hsbc Holdings PLC sharply increased its stake in JinkoSolar, boosting its holdings by 355.9% in the first quarter to 189,569 shares worth about $4.8 million.
• JinkoSolar reported a smaller-than-expected quarterly loss of ($1.52) per share, beating analyst estimates, though revenue of $1.78 billion came in below expectations.
• The stock has been under pressure, trading down 5.8% and near its 52-week low, while analysts currently rate it a consensus “Hold” with a target price of $24.38.

Hsbc Holdings PLC boosted its position in shares of JinkoSolar Holding Company Limited (NYSE:JKS - Free Report) by 355.9% in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 189,569 shares of the semiconductor company's stock after buying an additional 147,992 shares during the period. Hsbc Holdings PLC owned approximately 0.37% of JinkoSolar worth $4,817,000 as of its most recent SEC filing.

Several other institutional investors have also added to or reduced their stakes in the company. SG Americas Securities LLC raised its holdings in shares of JinkoSolar by 189.9% during the 4th quarter. SG Americas Securities LLC now owns 194,231 shares of the semiconductor company's stock worth $5,013,000 after acquiring an additional 127,234 shares in the last quarter. Mitsubishi UFJ Trust & Banking Corp grew its holdings in shares of JinkoSolar by 72.5% in the fourth quarter. Mitsubishi UFJ Trust & Banking Corp now owns 83,404 shares of the semiconductor company's stock valued at $2,153,000 after purchasing an additional 35,057 shares in the last quarter. Capital Wealth Planning LLC purchased a new position in shares of JinkoSolar in the fourth quarter valued at $3,299,000. 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 purchasing an additional 494,595 shares during the last quarter. Finally, Cornerstone Investment Partners LLC purchased a new stake in JinkoSolar during the fourth quarter valued at $205,000. Hedge funds and other institutional investors own 35.82% of the company's stock.

JinkoSolar Trading Down 5.8%

Shares of NYSE JKS opened at $14.84 on Friday. JinkoSolar Holding Company Limited has a fifty-two week low of $14.78 and a fifty-two week high of $31.88. 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 company has a market cap of $776.96 million, a price-to-earnings ratio of -1.52 and a beta of 0.51. The business's 50 day moving average price is $18.66 and its 200-day moving average price is $23.09.

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

JinkoSolar Announces Dividend

The business also recently declared an annual dividend, which was paid on Thursday, July 9th. Stockholders of record on Monday, June 22nd were issued a $1.50 dividend. The ex-dividend date was Monday, June 22nd. This represents a dividend yield of 837.0%. JinkoSolar's dividend payout ratio is presently -15.20%.

Insider Transactions at JinkoSolar

In other JinkoSolar news, Director Xianhua Li sold 1,280,000 shares of the business's stock in a transaction dated 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 completion of the sale, the director directly owned 10,349,612 shares of the company's stock, valued at $264,225,594.36. The trade was a 11.01% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Wing Keong Siew sold 16,000 shares of the company's stock in a transaction dated Tuesday, June 30th. The stock was sold at an average price of $16.49, for a total transaction of $263,840.00. Following the completion of the transaction, the director owned 170,000 shares in the company, valued at $2,803,300. This represents a 8.60% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Over the last 90 days, insiders sold 1,312,000 shares of company stock worth $33,360,000. Company insiders own 19.80% of the company's stock.

Analyst Upgrades and Downgrades

Several research firms have commented 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. 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. Freedom Capital upgraded JinkoSolar from a "hold" rating to a "strong-buy" rating in a research report on Friday, April 17th. Finally, Weiss Ratings downgraded JinkoSolar from a "hold (c-)" rating to a "sell (d)" rating in a research report on Wednesday, May 6th. One equities research analyst has rated the stock with a Strong Buy rating, one has given a Buy rating, three have issued a Hold rating and two have assigned a Sell rating to the company. According to MarketBeat, the stock presently has a consensus rating of "Hold" and a consensus target price of $24.38.

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.

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