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

Key Points

• JinkoSolar shares hit a new 52-week low, trading as low as $9.98 and falling 5.1% from the prior close, with the stock well below its 50-day and 200-day moving averages.
• The company reported a significant quarterly earnings miss, posting an adjusted loss of $2.53 per share versus the expected $0.75 loss, while revenue of $1.82 billion came in below the $2.17 billion estimate.
• Analyst sentiment remains cautious: JinkoSolar has an average “Hold” rating and a $19.88 consensus price target, although recent reports included downgrades to “Sell” and lower price objectives.

JinkoSolar Holding Company Limited (NYSE:JKS - Get Free Report) hit a new 52-week low during mid-day trading on Wednesday . The stock traded as low as $9.98 and last traded at $10.03, with a volume of 316791 shares trading hands. The stock had previously closed at $10.48.

Wall Street Analysts Forecast Growth

JKS has been the topic of several recent research reports. Wall Street Zen cut JinkoSolar from a "hold" rating to a "sell" rating in a report on Saturday, August 29th. Roth Capital lowered their price objective on JinkoSolar from $25.00 to $16.00 and set a "neutral" rating on the stock in a research note on Thursday, August 27th. Weiss Ratings reaffirmed a "sell (d)" rating on shares of JinkoSolar in a research note on Monday, August 3rd. UBS Group boosted their price target on shares of JinkoSolar from $23.00 to $24.00 and gave the company a "neutral" rating in a research report on Friday, May 29th. Finally, The Goldman Sachs Group set a $11.00 price objective on shares of JinkoSolar in a research report on Thursday, August 27th. One analyst has rated the stock with a Strong Buy rating, one has issued a Buy rating, three have issued a Hold rating and three have given a Sell rating to the company. According to MarketBeat.com, the company has an average rating of "Hold" and a consensus target price of $19.88.

JinkoSolar Stock Down 5.1%

The business's 50 day moving average price is $14.36 and its 200-day moving average price is $19.18. The company has a debt-to-equity ratio of 1.16, a quick ratio of 0.95 and a current ratio of 1.26. The firm has a market capitalization of $521.08 million, a PE ratio of -1.07 and a beta of 0.51.

JinkoSolar (NYSE:JKS - Get Free Report) last issued its quarterly earnings data on Wednesday, August 26th. The semiconductor company reported ($2.53) earnings per share for the quarter, missing analysts' consensus estimates of ($0.75) by ($1.78). JinkoSolar had a negative net margin of 5.85% and a negative return on equity of 9.93%. The firm had revenue of $1.82 billion during the quarter, compared to analyst estimates of $2.17 billion. As a group, equities research analysts forecast that JinkoSolar Holding Company Limited will post -5.63 earnings per share for the current year.

Insiders Place Their Bets

In other JinkoSolar news, Director Wing Siew sold 16,000 shares of the business's stock in a transaction dated 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 $2,803,300. This represents a 8.60% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 19.80% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the business. Banque Cantonale Vaudoise increased its position in shares of JinkoSolar by 37.5% during the first quarter. Banque Cantonale Vaudoise now owns 3,079 shares of the semiconductor company's stock worth $78,000 after acquiring an additional 839 shares during the period. Leonteq Securities AG purchased a new stake in JinkoSolar during the 4th quarter worth about $101,000. Cetera Investment Advisers acquired a new position in JinkoSolar in the first quarter valued at approximately $307,000. Engineers Gate Manager LP acquired a new position in shares of JinkoSolar in the 2nd quarter valued at $298,000. Finally, Renaissance Technologies LLC grew its holdings in shares of JinkoSolar by 96.2% during the first quarter. Renaissance Technologies LLC now owns 82,200 shares of the semiconductor company's stock worth $2,089,000 after purchasing an additional 40,300 shares during the last quarter. Institutional investors and hedge funds own 35.82% of the company's stock.

JinkoSolar Company Profile

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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