JinkoSolar (NYSE:JKS) Sets New 12-Month Low - Here's Why

Key Points

• JinkoSolar hit a new 52-week low, with shares trading as low as $15.53 after falling about 3.6% on the day. The stock is well below its 50-day and 200-day moving averages.
• Analyst sentiment is mixed but cautious: the stock currently has an overall “Hold” rating and an average price target of $24.38. Recent rating changes included a downgrade from Weiss Ratings and a mix of upgrades from other firms.
• The company’s latest quarterly results showed a smaller-than-expected loss per share of $1.52, but revenue missed estimates at $1.78 billion. JinkoSolar also reported insider sales and recently announced a $1.50 per-share dividend.

JinkoSolar Holding Company Limited (NYSE:JKS - Get Free Report) shares reached a new 52-week low on Monday . The stock traded as low as $15.53 and last traded at $15.6610, with a volume of 484381 shares trading hands. The stock had previously closed at $16.28.

Analysts Set New Price Targets

A number of brokerages have issued reports on JKS. Weiss Ratings downgraded shares of JinkoSolar from a "hold (c-)" rating to a "sell (d)" rating in a report on Wednesday, May 6th. UBS Group raised their price objective on 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. Daiwa Securities Group raised JinkoSolar from a "sell" rating to a "buy" rating and set a $28.50 price target for the company in a research note on Tuesday, March 24th. Finally, Wall Street Zen raised JinkoSolar from a "sell" rating to a "hold" rating in a research note on Saturday, May 2nd. One investment analyst has rated the stock with a Strong Buy rating, one has given a Buy rating, three have given a Hold rating and two have assigned a Sell rating to the company. According to MarketBeat, JinkoSolar has an average rating of "Hold" and an average price target of $24.38.

JinkoSolar Stock Down 3.6%

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 company has a 50 day simple moving average of $21.57 and a two-hundred day simple moving average of $24.59. The company has a market capitalization of $822.05 million, a P/E ratio of -1.61 and a beta of 0.52.

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 the consensus estimate of ($1.84) by $0.32. The business had revenue of $1.78 billion during the quarter, compared to analyst estimates of $2.09 billion. JinkoSolar had a negative return on equity of 9.52% and a negative net margin of 5.62%. As a group, equities analysts predict that JinkoSolar Holding Company Limited will post -2.76 EPS for the current year.

JinkoSolar Dividend Announcement

The company also recently disclosed an annual dividend, which will be paid on Thursday, July 9th. Shareholders of record on Monday, June 22nd will be paid a dividend of $1.50 per share. This represents a yield of 837.0%. The ex-dividend date of this dividend is Monday, June 22nd. JinkoSolar's payout ratio is presently -15.20%.

Insiders Place Their Bets

In other news, Director Xianhua Li sold 1,280,000 shares of the firm'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 owned 10,349,612 shares in the company, valued at approximately $264,225,594.36. This trade represents a 11.01% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Wing Keong Siew sold 16,000 shares of JinkoSolar stock in a transaction dated Wednesday, May 13th. The stock was sold at an average price of $26.11, for a total transaction of $417,760.00. Following the transaction, the director directly owned 186,000 shares of the company's stock, valued at approximately $4,856,460. This represents a 7.92% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders own 19.80% of the company's stock.

Institutional Trading of JinkoSolar

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Invesco Ltd. lifted 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 last quarter. Mackenzie Financial Corp grew 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 buying an additional 20,000 shares during the last quarter. Dimensional Fund Advisors LP raised 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 buying an additional 3,118 shares during the period. State Street Corp lifted its stake in shares of JinkoSolar by 8.0% during the 4th quarter. State Street Corp now owns 735,159 shares of the semiconductor company's stock worth $18,978,000 after acquiring an additional 54,661 shares during the last quarter. Finally, Legal & General Group Plc lifted its stake in shares of JinkoSolar by 9,212.1% during the 4th quarter. Legal & General Group Plc now owns 499,964 shares of the semiconductor company's stock worth $12,904,000 after acquiring an additional 494,595 shares during the last quarter. 35.82% of the stock is owned by hedge funds and other institutional investors.

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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