JinkoSolar (NYSE:JKS) Reaches New 1-Year Low - Should You Sell?

Key Points

• JinkoSolar shares fell 6.8% to a new 52-week low of $12.56, well below their 50-day and 200-day moving averages.
• Analyst sentiment has weakened, with price-target cuts and downgrades; the stock now has a consensus “Hold” rating and an average target price of $19.88.
• The company reported a significant quarterly loss of $2.53 per share versus an expected loss of $0.75, while revenue of $1.82 billion also missed estimates of $2.17 billion.

JinkoSolar Holding Company Limited (NYSE:JKS - Get Free Report) hit a new 52-week low during mid-day trading on Tuesday . The stock traded as low as $12.56 and last traded at $12.62, with a volume of 1105381 shares traded. The stock had previously closed at $13.54.

Analyst Ratings Changes

A number of equities analysts have recently issued reports on the stock. Roth Capital reduced their target price on shares of JinkoSolar from $25.00 to $16.00 and set a "neutral" rating on the stock in a research report on Thursday. The Goldman Sachs Group set a $11.00 price target on shares of JinkoSolar in a report on Thursday. Freedom Broker cut shares of JinkoSolar from a "strong-buy" rating to a "hold" rating in a research report on Thursday, August 27th. Wall Street Zen downgraded JinkoSolar from a "hold" rating to a "sell" rating in a report on Saturday. Finally, Weiss Ratings reiterated a "sell (d)" rating on shares of JinkoSolar in a research report on Monday, August 3rd. One equities research analyst has rated the stock with a Strong Buy rating, one has given a Buy rating, four have assigned a Hold rating and two have issued a Sell rating to the company's stock. According to data from MarketBeat, the company presently has a consensus rating of "Hold" and an average price target of $19.88.

JinkoSolar Stock Down 6.8%

The company has a market cap of $660.91 million, a price-to-earnings ratio of -1.35 and a beta of 0.52. The company has a current ratio of 1.26, a quick ratio of 0.95 and a debt-to-equity ratio of 1.16. The firm's fifty day moving average price is $15.85 and its 200-day moving average price is $20.85.

JinkoSolar (NYSE:JKS - Get Free Report) last posted its earnings results on Wednesday, August 26th. The semiconductor company reported ($2.53) earnings per share for the quarter, missing the consensus estimate of ($0.75) by ($1.78). JinkoSolar had a negative return on equity of 9.93% and a negative net margin of 5.85%.The business had revenue of $1.82 billion for the quarter, compared to the consensus estimate of $2.17 billion. Sell-side analysts predict that JinkoSolar Holding Company Limited will post -2.76 earnings per share for the current year.

JinkoSolar Dividend Announcement

The firm also recently announced an annual dividend, which was paid on Thursday, July 9th. Investors of record on Monday, June 22nd were paid a dividend of $1.50 per share. This represents a yield of 837.0%. The ex-dividend date of this dividend was Monday, June 22nd. JinkoSolar's dividend payout ratio is presently -15.86%.

Insider Buying and Selling

In other JinkoSolar news, Director Wing Keong Siew sold 16,000 shares of the firm's stock in a transaction that occurred on Tuesday, June 30th. The shares were sold at an average price of $16.49, for a total transaction 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 position. The sale was disclosed in a filing with the SEC, which is accessible through this link. Company insiders own 19.80% of the company's stock.

Hedge Funds Weigh In On JinkoSolar

A number of large investors have recently added to or reduced their stakes in the company. Raymond James Financial Inc. acquired a new position in JinkoSolar during the 2nd quarter worth approximately $47,000. Banque Cantonale Vaudoise bought a new position in shares of JinkoSolar in the 4th quarter valued at about $58,000. Leonteq Securities AG acquired a new position in JinkoSolar during the fourth quarter worth approximately $101,000. Federation des caisses Desjardins du Quebec boosted its stake in shares of JinkoSolar by 277.9% during the 4th 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 period. Finally, Janney Montgomery Scott LLC acquired a new position in shares of JinkoSolar in the fourth quarter valued at $209,000. Institutional investors own 35.82% of the company's stock.

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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