JinkoSolar Holding Company Limited (NYSE:JKS) Given Average Recommendation of "Hold" by Brokerages

Key Points

• Brokerage sentiment is mixed: Seven analysts give JinkoSolar an average “Hold” rating, with two sells, three holds, one buy and one strong buy. The average 12-month price target is $24.38.
• Insider activity was negative: Director Wing Keong Siew sold 16,000 shares for approximately $263,840, reducing his holdings by 8.6%; insiders collectively own 19.8% of the company.
• The stock remains under pressure: JinkoSolar opened at $16.77, near its 52-week low of $14.55 and well below its 52-week high of $31.88, while institutional investors own 35.82% of its shares.

Shares of JinkoSolar Holding Company Limited (NYSE:JKS - Get Free Report) have been assigned an average recommendation of "Hold" from the seven ratings firms that are presently covering the stock, MarketBeat.com reports. Two analysts have rated the stock with a sell recommendation, three have assigned a hold recommendation, one has assigned a buy recommendation and one has given a strong buy recommendation to the company. The average twelve-month price target among brokerages that have issued ratings on the stock in the last year is $24.3750.

JKS has been the topic of several research analyst reports. Wall Street Zen upgraded JinkoSolar from a "sell" rating to a "hold" rating in a report on Saturday, May 2nd. Weiss Ratings restated a "sell (d)" rating on shares of JinkoSolar in a report on Monday, August 3rd. UBS Group lifted their target price on JinkoSolar from $23.00 to $24.00 and gave the company a "neutral" rating in a research report on Friday, May 29th. Finally, Freedom Capital upgraded shares of JinkoSolar from a "hold" rating to a "strong-buy" rating in a research note on Friday, April 17th.

Insider Buying and Selling at JinkoSolar

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

Institutional Investors Weigh In On JinkoSolar

Several large investors have recently bought and sold shares of the stock. Raymond James Financial Inc. purchased a new position in shares of JinkoSolar in the 2nd quarter valued at about $47,000. Banque Cantonale Vaudoise acquired a new stake in JinkoSolar in the fourth quarter valued at approximately $58,000. Leonteq Securities AG acquired a new stake in JinkoSolar in the fourth quarter valued at approximately $101,000. Federation des caisses Desjardins du Quebec lifted its stake in JinkoSolar by 277.9% in the fourth quarter. Federation des caisses Desjardins du Quebec now owns 7,086 shares of the semiconductor company's stock worth $183,000 after acquiring an additional 5,211 shares during the last quarter. Finally, Cornerstone Investment Partners LLC purchased a new position in JinkoSolar in the fourth quarter worth approximately $205,000. Hedge funds and other institutional investors own 35.82% of the company's stock.

JinkoSolar Stock Up 2.9%

NYSE:JKS opened at $16.77 on Friday. The company has a quick ratio of 0.95, a current ratio of 1.26 and a debt-to-equity ratio of 1.16. The stock's fifty day moving average is $16.69 and its two-hundred day moving average is $21.82. JinkoSolar has a 52 week low of $14.55 and a 52 week high of $31.88. The stock has a market capitalization of $878.04 million, a price-to-earnings ratio of -1.72 and a beta of 0.52.

JinkoSolar Dividend Announcement

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

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.

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