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

Key Points

• JinkoSolar shares hit a new 52-week low of $9.20, closing around $9.23 after falling 4.5%. The stock is well below its 50-day and 200-day moving averages of $13.82 and $18.77, respectively.
• Analyst sentiment has weakened, with several firms downgrading the stock to “sell” or “hold.” Despite an average “Hold” rating, the consensus price target of $19.88 remains substantially above the current share price.
• The company reported disappointing quarterly results, posting an EPS loss of $2.53 versus the expected loss of $0.75 and revenue of $1.82 billion versus the $2.17 billion consensus. JinkoSolar also reported negative net margin and return on equity, while institutional investors collectively own 35.82% of the stock.

JinkoSolar Holding Company Limited (NYSE:JKS - Get Free Report)'s stock price hit a new 52-week low during trading on Tuesday. The company traded as low as $9.20 and last traded at $9.2320, with a volume of 800138 shares changing hands. The stock had previously closed at $9.67.

Analysts Set New Price Targets

Several equities research analysts have recently weighed in on the company. Zacks Research lowered JinkoSolar from a "hold" rating to a "strong sell" rating in a research note on Thursday, September 3rd. The Goldman Sachs Group set a $11.00 target price on JinkoSolar in a research report on Thursday, August 27th. Weiss Ratings reaffirmed a "sell (d)" rating on shares of JinkoSolar in a report on Monday, August 3rd. Freedom Broker lowered JinkoSolar from a "strong-buy" rating to a "hold" rating in a research report on Thursday, August 27th. Finally, Wall Street Zen cut JinkoSolar from a "hold" rating to a "sell" rating in a research note on Saturday, August 29th. One analyst has rated the stock with a Strong Buy rating, one has issued a Buy rating, three have assigned a Hold rating and three have issued a Sell rating to the company. According to MarketBeat.com, the company presently has an average rating of "Hold" and an average target price of $19.88.

JinkoSolar Stock Down 4.5%

The firm has a market cap of $483.48 million, a PE ratio of -0.99 and a beta of 0.51. The company has a debt-to-equity ratio of 1.10, a current ratio of 1.13 and a quick ratio of 0.84. The business has a fifty day moving average price of $13.82 and a two-hundred day moving average price of $18.77.

JinkoSolar (NYSE:JKS - Get Free Report) last announced its quarterly earnings data on Wednesday, August 26th. The semiconductor company reported ($2.53) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.75) by ($1.78). The business had revenue of $1.82 billion during the quarter, compared to analysts' expectations of $2.17 billion. JinkoSolar had a negative return on equity of 10.03% and a negative net margin of 5.85%. On average, analysts anticipate that JinkoSolar Holding Company Limited will post -5.63 EPS for the current fiscal year.

Institutional Investors Weigh In On JinkoSolar

A number of institutional investors have recently modified their holdings of the stock. Dimensional Fund Advisors LP increased its stake 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 acquiring an additional 3,118 shares during the last quarter. Legal & General Group Plc lifted its holdings 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 valued at $12,904,000 after buying an additional 494,595 shares during the last quarter. Hsbc Holdings PLC grew its stake 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 in the last quarter. Capital Wealth Planning LLC acquired a new position in JinkoSolar in the fourth quarter worth approximately $3,299,000. Finally, Himension Capital Singapore PTE. LTD. lifted its stake in JinkoSolar by 5.1% in the first quarter. Himension Capital Singapore PTE. LTD. now owns 82,319 shares of the semiconductor company's stock valued at $2,092,000 after acquiring an additional 3,961 shares during the last quarter. Institutional investors and hedge funds own 35.82% of the company's stock.

About JinkoSolar

JinkoSolar Holding Co, Ltd. is a global solar photovoltaic (PV) product manufacturer. Through its principal operating subsidiary, Jiangxi Jinko, the company develops and produces silicon wafers, solar cells, and PV modules used in utility-scale, commercial, industrial, and residential solar power systems. Its product portfolio includes high-efficiency monocrystalline modules marketed under the Tiger and Tiger Neo product families.

JinkoSolar also provides energy storage products and related system solutions, supporting the integration of renewable power into electricity networks and on-site energy systems.

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