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

Key Points

• JinkoSolar shares hit a new 52-week low, trading as low as $11.42, with the stock down about 0.9% and well below its 50-day and 200-day moving averages.
• Analyst sentiment is mixed but cautious: the stock has an average “Hold” rating and a $19.88 price target, while recent firms downgraded it or maintained sell/neutral views.
• The company reported a significant quarterly loss, with EPS of -$2.53 versus expectations of -$0.75, and revenue of $1.82 billion below the $2.17 billion consensus estimate.

JinkoSolar Holding Company Limited (NYSE:JKS - Get Free Report) shares reached a new 52-week low on Monday . The stock traded as low as $11.42 and last traded at $11.3650, with a volume of 5674 shares traded. The stock had previously closed at $11.45.

Analyst Ratings Changes

Several brokerages have recently weighed in on JKS. Freedom Broker cut JinkoSolar from a "strong-buy" rating to a "hold" rating 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. Wall Street Zen cut shares of JinkoSolar from a "hold" rating to a "sell" rating in a research note on Saturday, August 29th. Roth Capital cut their price target on shares of JinkoSolar from $25.00 to $16.00 and set a "neutral" rating for the company in a report on Thursday, August 27th. Finally, 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. One research analyst has rated the stock with a Strong Buy rating, one has assigned a Buy rating, three have issued a Hold rating and three have assigned a Sell rating to the stock. According to MarketBeat, the stock presently has an average rating of "Hold" and an average price target of $19.88.

JinkoSolar Stock Down 0.9%

The company has a debt-to-equity ratio of 1.16, a current ratio of 1.26 and a quick ratio of 0.95. The company has a fifty day moving average price of $15.06 and a 200 day moving average price of $19.93. The company has a market cap of $594.14 million, a PE ratio of -1.23 and a beta of 0.51.

JinkoSolar (NYSE:JKS - Get Free Report) last announced its earnings results 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 company had revenue of $1.82 billion during the quarter, compared to analysts' expectations of $2.17 billion. As a group, analysts anticipate that JinkoSolar Holding Company Limited will post -5.63 EPS for the current year.

Insider Activity at JinkoSolar

In other news, Director Wing Siew sold 16,000 shares of the firm's stock in a transaction 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 owned 170,000 shares in the company, valued at approximately $2,803,300. This trade represents a 8.60% decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. 19.80% of the stock is owned by insiders.

Institutional Inflows and Outflows

A number of institutional investors have recently added to or reduced their stakes in the company. Hsbc Holdings PLC lifted its stake in JinkoSolar by 355.9% during the first quarter. Hsbc Holdings PLC now owns 189,569 shares of the semiconductor company's stock worth $4,817,000 after purchasing an additional 147,992 shares during the last quarter. Renaissance Technologies LLC increased its position in shares of JinkoSolar by 96.2% during the 1st quarter. Renaissance Technologies LLC now owns 82,200 shares of the semiconductor company's stock valued at $2,089,000 after purchasing an additional 40,300 shares during the last quarter. Legal & General Group Plc increased its position 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 purchasing an additional 494,595 shares during the last quarter. Capital Wealth Planning LLC purchased a new position in shares of JinkoSolar during the 4th quarter valued at about $3,299,000. Finally, Leonteq Securities AG purchased a new position in shares of JinkoSolar during the 4th quarter valued at about $101,000. Institutional investors 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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