JinkoSolar (NYSE:JKS) Trading Down 7.7% – Time to Sell?

JinkoSolar Holding Co., Ltd. (NYSE:JKS)’s stock price dropped 7.7% on Monday . The company traded as low as $18.22 and last traded at $18.08. Approximately 234,198 shares were traded during trading, a decline of 77% from the average daily volume of 1,036,703 shares. The stock had previously closed at $19.59.

Wall Street Analyst Weigh In

Several analysts have recently issued reports on JKS shares. Glj Research lowered their price target on shares of JinkoSolar from $13.08 to $10.95 and set a “sell” rating on the stock in a research report on Thursday, January 23rd. The Goldman Sachs Group lowered their target price on shares of JinkoSolar from $20.00 to $18.00 and set a “sell” rating on the stock in a report on Thursday, March 27th. Daiwa Capital Markets lowered JinkoSolar from an “underperform” rating to a “sell” rating in a report on Friday, January 10th. Jefferies Financial Group boosted their price objective on JinkoSolar from $36.00 to $65.00 and gave the company a “buy” rating in a research note on Thursday, December 5th. Finally, UBS Group cut their target price on JinkoSolar from $25.00 to $22.00 and set a “neutral” rating for the company in a research note on Thursday, March 27th. Three analysts have rated the stock with a sell rating, three have assigned a hold rating and one has issued a buy rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average price target of $27.19.

JinkoSolar Trading Down 0.7 %

The company has a current ratio of 1.22, a quick ratio of 0.97 and a debt-to-equity ratio of 0.81. The stock has a market cap of $984.06 million, a PE ratio of 31.38 and a beta of 0.40. The firm has a fifty day simple moving average of $21.66 and a two-hundred day simple moving average of $23.19.

JinkoSolar (NYSE:JKS) last announced its earnings results on Wednesday, March 26th. The semiconductor company reported ($1.01) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.46) by ($0.55). The company had revenue of $20.65 billion during the quarter, compared to analysts’ expectations of $3.38 billion. JinkoSolar had a net margin of 0.53% and a return on equity of 4.18%. The company’s revenue for the quarter was down 37.1% compared to the same quarter last year. During the same period in the prior year, the business earned $0.54 earnings per share. As a group, equities analysts expect that JinkoSolar Holding Co., Ltd. will post -0.24 earnings per share for the current fiscal year.

Hedge Funds Weigh In On JinkoSolar

A number of hedge funds and other institutional investors have recently modified their holdings of the company. Public Employees Retirement System of Ohio boosted its stake in JinkoSolar by 42.7% in the fourth quarter. Public Employees Retirement System of Ohio now owns 49,365 shares of the semiconductor company’s stock worth $1,229,000 after buying an additional 14,765 shares in the last quarter. Twinbeech Capital LP boosted its stake in shares of JinkoSolar by 219.9% in the 4th quarter. Twinbeech Capital LP now owns 25,960 shares of the semiconductor company’s stock valued at $646,000 after purchasing an additional 17,846 shares in the last quarter. Millennium Management LLC bought a new position in shares of JinkoSolar during the 4th quarter valued at $2,846,000. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main raised its position in JinkoSolar by 85.1% in the 4th quarter. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main now owns 8,697 shares of the semiconductor company’s stock worth $217,000 after purchasing an additional 3,998 shares during the period. Finally, CoreCommodity Management LLC raised its position in JinkoSolar by 1.1% in the 4th quarter. CoreCommodity Management LLC now owns 61,559 shares of the semiconductor company’s stock worth $1,533,000 after purchasing an additional 640 shares during the period. 35.82% of the stock is currently owned by hedge funds and other institutional investors.

JinkoSolar Company Profile

JinkoSolar Holding Co, Ltd., together with its subsidiaries, engages in the design, development, production, and marketing of photovoltaic products. The company offers solar modules, silicon wafers, solar cells, recovered silicon materials, and silicon ingots. It also provides solar system integration services; solar power generation and solar system EPC services; and energy storage system, as well as undertakes solar power projects.