JinkoSolar (NYSE:JKS) Reaches New 1-Year Low - What's Next?

Key Points

• JinkoSolar shares fell 13.8%, reaching a new 52-week low of $13.66 and trading well below their 50-day and 200-day moving averages.
• Analyst sentiment is mixed but averages to a “Hold” rating, with a consensus price target of $24.38 versus the stock’s recent price near $13.45.
• Institutional investors increased their holdings, while a company director sold 16,000 shares; insiders own 19.8% of the company and institutions own 35.82%.

JinkoSolar Holding Company Limited (NYSE:JKS - Get Free Report) shares hit a new 52-week low on Wednesday . The company traded as low as $13.66 and last traded at $13.4490, with a volume of 304667 shares changing hands. The stock had previously closed at $15.50.

Wall Street Analysts Forecast Growth

JKS has been the topic of a number of analyst reports. Weiss Ratings restated a "sell (d)" rating on shares of JinkoSolar in a research note on Monday, August 3rd. UBS Group increased their price objective on JinkoSolar from $23.00 to $24.00 and gave the stock a "neutral" rating in a research report on Friday, May 29th. Finally, Wall Street Zen upgraded shares of JinkoSolar from a "sell" rating to a "hold" rating in a research report on Saturday, May 2nd. One equities research analyst has rated the stock with a Strong Buy rating, one has assigned a Buy rating, three have issued a Hold rating and two have issued a Sell rating to the company. Based on data from MarketBeat.com, the company has an average rating of "Hold" and an average target price of $24.38.

JinkoSolar Trading Down 13.8%

The business has a fifty day moving average price of $16.30 and a 200 day moving average price of $21.27. The company has a market capitalization of $699.40 million, a PE ratio of -1.37 and a beta of 0.52. The company has a debt-to-equity ratio of 1.16, a quick ratio of 0.95 and a current ratio of 1.26.

JinkoSolar Announces Dividend

The firm also recently announced an annual dividend, which was paid on Thursday, July 9th. Investors of record on Monday, June 22nd were given 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 -15.20%.

Insider Buying and Selling

In related news, Director Wing Keong Siew sold 16,000 shares of the business's stock in a transaction that occurred on Tuesday, June 30th. The stock was sold at an average price of $16.49, for a total transaction of $263,840.00. Following the transaction, the director directly owned 170,000 shares of the company's stock, valued at approximately $2,803,300. The trade was a 8.60% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. 19.80% of the stock is owned by company insiders.

Institutional Trading of JinkoSolar

Hedge funds and other institutional investors have recently modified their holdings of the business. Hsbc Holdings PLC boosted its holdings in shares of JinkoSolar by 355.9% in the 1st quarter. Hsbc Holdings PLC now owns 189,569 shares of the semiconductor company's stock valued at $4,817,000 after buying an additional 147,992 shares during the period. Mitsubishi UFJ Trust & Banking Corp raised its stake in JinkoSolar by 72.5% during the fourth quarter. Mitsubishi UFJ Trust & Banking Corp now owns 83,404 shares of the semiconductor company's stock worth $2,153,000 after acquiring an additional 35,057 shares during the period. Renaissance Technologies LLC lifted its holdings in JinkoSolar by 96.2% in the first quarter. Renaissance Technologies LLC now owns 82,200 shares of the semiconductor company's stock worth $2,089,000 after acquiring an additional 40,300 shares during the last quarter. Capital Wealth Planning LLC bought a new position in JinkoSolar in the fourth quarter worth about $3,299,000. Finally, Legal & General Group Plc boosted its stake 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 valued at $12,904,000 after acquiring an additional 494,595 shares during the period. 35.82% of the stock is owned by hedge funds and other institutional investors.

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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