JinkoSolar (NYSE:JKS) Stock Falls 6.2% - Should You Sell?

Key Points

• JinkoSolar shares fell 6.2% on Monday, closing near $10.30; trading volume was 74% below its average.
• Analyst opinions are mixed, but MarketBeat’s consensus rating is Hold, with a consensus price target of $16.62.
• JinkoSolar beat quarterly EPS estimates, reporting a loss of $0.03 per share versus an expected loss of $2.11, but revenue of $2.03 billion came in below the $2.42 billion consensus.

JinkoSolar Holding Company Limited (NYSE:JKS - Get Free Report)'s stock price dropped 6.2% during trading on Monday. The stock traded as low as $10.25 and last traded at $10.2950. 190,509 shares were traded during trading, a decline of 74% from the average daily volume of 737,405 shares. The stock had previously closed at $10.97.

Analyst Ratings Changes

A number of research firms have recently commented on JKS. Freedom Broker upgraded shares of JinkoSolar from a "hold" rating to a "buy" rating in a research note on Tuesday, November 3rd. UBS Group raised JinkoSolar from a "neutral" rating to a "buy" rating and lowered their target price for the company from $24.00 to $17.00 in a research report on Friday. The Goldman Sachs Group set a $11.00 target price on JinkoSolar in a report on Thursday, August 27th. Zacks Research raised JinkoSolar from a "strong sell" rating to a "hold" rating in a research report on Monday, October 26th. Finally, Wall Street Zen upgraded JinkoSolar from a "strong sell" rating to a "hold" rating in a research note on Saturday. One research analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating, two have issued a Hold rating and two have given a Sell rating to the company's stock. According to MarketBeat, the company currently has a consensus rating of "Hold" and a consensus target price of $16.62.

JinkoSolar Stock Down 5.3%

The company has a market capitalization of $551.39 million, a price-to-earnings ratio of -1.33 and a beta of 0.39. The firm's 50 day moving average price is $9.89 and its two-hundred day moving average price is $18.62. The company has a current ratio of 1.13, a quick ratio of 0.84 and a debt-to-equity ratio of 1.10.

JinkoSolar (NYSE:JKS - Get Free Report) last issued its earnings results on Friday, October 30th. The semiconductor company reported ($0.03) earnings per share (EPS) for the quarter, beating the consensus estimate of ($2.11) by $2.08. JinkoSolar had a negative net margin of 5.04% and a negative return on equity of 8.83%. The business had revenue of $2.03 billion during the quarter, compared to the consensus estimate of $2.42 billion. Sell-side analysts anticipate that JinkoSolar Holding Company Limited will post -4.95 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in the business. Aberdeen Group plc acquired a new stake in JinkoSolar during the 3rd quarter valued at $275,000. Engineers Gate Manager LP acquired a new position in shares of JinkoSolar in the second quarter valued at $298,000. Renaissance Technologies LLC increased its holdings in shares of JinkoSolar by 96.2% in the first 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. Cetera Investment Advisers acquired a new position in shares of JinkoSolar in the first quarter valued at $307,000. Finally, Himension Capital Singapore PTE. LTD. raised its position in shares of 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 purchasing an additional 3,961 shares during the period. 35.82% of the stock is currently owned by institutional investors.

About JinkoSolar

JinkoSolar Holding Co, Ltd. is a global solar photovoltaic (PV) manufacturer that develops and produces products used to convert sunlight into electricity. The company's portfolio includes silicon wafers, solar cells, PV modules and related energy-storage products, serving utility-scale solar projects as well as commercial, industrial and residential customers.

Founded in 2006, JinkoSolar has developed a vertically integrated manufacturing business spanning much of the solar supply chain.

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