JinkoSolar (NYSE:JKS) Shares Gap Down - Should You Sell?

JinkoSolar Holding Co., Ltd. (NYSE:JKS - Get Free Report) shares gapped down prior to trading on Thursday . The stock had previously closed at $18.78, but opened at $18.27. JinkoSolar shares last traded at $18.45, with a volume of 124,029 shares changing hands.

Wall Street Analysts Forecast Growth

A number of research analysts recently weighed in on the company. The Goldman Sachs Group dropped their price objective on JinkoSolar from $20.00 to $18.00 and set a "sell" 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 report on Monday, May 5th. Glj Research decreased their price target on JinkoSolar from $13.08 to $10.95 and set a "sell" rating on the stock in a research note on Thursday, January 23rd. Finally, UBS Group dropped their price objective on JinkoSolar from $25.00 to $22.00 and set a "neutral" rating for the company in a report on Thursday, March 27th. Four analysts have rated the stock with a sell rating, three have given a hold rating and one has issued a buy rating to the company's stock. Based on data from MarketBeat, the stock presently has a consensus rating of "Hold" and a consensus price target of $27.19.

JinkoSolar Stock Down 3.3%

The business has a 50-day moving average price of $18.17 and a 200-day moving average price of $21.60. The company has a quick ratio of 0.97, a current ratio of 1.22 and a debt-to-equity ratio of 0.81. The company has a market capitalization of $933.26 million, a price-to-earnings ratio of 30.78 and a beta of 0.16.

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

Institutional Trading of JinkoSolar

Several institutional investors have recently made changes to their positions in the business. Banque Cantonale Vaudoise bought a new stake in JinkoSolar during the 1st quarter worth about $36,000. CANADA LIFE ASSURANCE Co bought a new stake in shares of JinkoSolar in the fourth quarter worth about $55,000. Barclays PLC lifted its stake in JinkoSolar by 30.2% in the third quarter. Barclays PLC now owns 2,318 shares of the semiconductor company's stock valued at $62,000 after buying an additional 537 shares in the last quarter. Caitong International Asset Management Co. Ltd boosted its stake in JinkoSolar by 502.4% in the 1st quarter. Caitong International Asset Management Co. Ltd now owns 5,470 shares of the semiconductor company's stock worth $102,000 after purchasing an additional 4,562 shares during the period. Finally, SBI Securities Co. Ltd. bought a new position in shares of JinkoSolar during the fourth quarter worth about $119,000. 35.82% of the stock is currently owned by institutional investors and hedge funds.

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.

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