JinkoSolar (NYSE:JKS) Trading Down 6% - What's Next?

Key Points

• JinkoSolar shares fell 6% to about $10.06, with trading volume below average. The stock remains well below its 50-day and 200-day moving averages of $14.87 and $19.70, respectively.
• The company reported a significant quarterly miss, posting a loss of $2.53 per share versus the expected loss of $0.75, while revenue of $1.82 billion also fell short of the $2.17 billion estimate.
• Analyst sentiment is mixed but leans cautious: JinkoSolar has an average “Hold” rating and a consensus price target of $19.88, while recent firms have issued both target increases and downgrades to “Sell.”

JinkoSolar Holding Company Limited (NYSE:JKS - Get Free Report)'s share price was down 6% during trading on Wednesday . The stock traded as low as $10.11 and last traded at $10.0640. 575,441 shares changed hands during trading, a decline of 21% from the average session volume of 724,262 shares. The stock had previously closed at $10.71.

Wall Street Analysts Forecast Growth

Several research firms have recently issued reports on JKS. UBS Group raised their price target on JinkoSolar from $23.00 to $24.00 and gave the stock a "neutral" rating in a research report on Friday, May 29th. Weiss Ratings reiterated a "sell (d)" rating on shares of JinkoSolar in a report on Monday, August 3rd. The Goldman Sachs Group set a $11.00 target price on JinkoSolar in a research note on Thursday, August 27th. Freedom Broker cut JinkoSolar from a "strong-buy" rating to a "hold" rating in a report on Thursday, August 27th. Finally, Wall Street Zen lowered JinkoSolar from a "hold" rating to a "sell" rating in a research report on Saturday, August 29th. One research analyst has rated the stock with a Strong Buy rating, one has given a Buy rating, three have issued a Hold rating and three have assigned a Sell rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of "Hold" and a consensus target price of $19.88.

JinkoSolar Price Performance

The company has a 50 day moving average of $14.87 and a 200 day moving average of $19.70. The company has a current ratio of 1.26, a quick ratio of 0.95 and a debt-to-equity ratio of 1.16. The firm has a market cap of $527.05 million, a price-to-earnings ratio of -1.08 and a beta of 0.51.

JinkoSolar (NYSE:JKS - Get Free Report) last posted its earnings results on Wednesday, August 26th. The semiconductor company reported ($2.53) earnings per share (EPS) 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 business had revenue of $1.82 billion during the quarter, compared to analyst estimates of $2.17 billion. Equities research analysts predict that JinkoSolar Holding Company Limited will post -5.63 EPS for the current fiscal year.

Insider Buying and Selling at JinkoSolar

In related news, Director Wing 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 value of $263,840.00. Following the completion of the transaction, the director directly owned 170,000 shares in the company, valued at approximately $2,803,300. The trade was a 8.60% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. 19.80% of the stock is owned by company insiders.

Institutional Inflows and Outflows

A number of institutional investors have recently bought and sold shares of JKS. Engineers Gate Manager LP bought a new stake in shares of JinkoSolar during the second quarter worth $298,000. Renaissance Technologies LLC lifted its position in JinkoSolar by 96.2% in the 1st quarter. Renaissance Technologies LLC now owns 82,200 shares of the semiconductor company's stock valued at $2,089,000 after acquiring an additional 40,300 shares in the last quarter. Cetera Investment Advisers acquired a new position in JinkoSolar in the 1st quarter worth $307,000. Himension Capital Singapore PTE. LTD. boosted its stake in JinkoSolar by 5.1% in the 1st quarter. Himension Capital Singapore PTE. LTD. now owns 82,319 shares of the semiconductor company's stock worth $2,092,000 after purchasing an additional 3,961 shares during the period. Finally, Dimensional Fund Advisors LP increased its holdings in JinkoSolar by 0.4% during the 1st quarter. Dimensional Fund Advisors LP now owns 845,017 shares of the semiconductor company's stock worth $21,449,000 after purchasing an additional 3,118 shares in the last quarter. 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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.