JinkoSolar (NYSE:JKS) Trading Down 2.9% – Should You Sell?

JinkoSolar Holding Co., Ltd. (NYSE:JKS)’s stock price fell 2.9% on Tuesday . The company traded as low as $15.92 and last traded at $15.80. Approximately 205,148 shares were traded during mid-day trading, a decline of 75% from the average session volume of 813,411 shares. The stock had previously closed at $16.28.

Analyst Ratings Changes

A number of equities research analysts recently commented on JKS shares. UBS Group dropped their price objective on JinkoSolar from $25.00 to $22.00 and set a “neutral” rating for the company in a report on Thursday, March 27th. Glj Research dropped their price objective on JinkoSolar from $13.08 to $10.95 and set a “sell” rating for the company in a research report on Thursday, January 23rd. The Goldman Sachs Group cut their price objective on JinkoSolar from $20.00 to $18.00 and set a “sell” rating on the stock in a research note on Thursday, March 27th. Finally, Daiwa Capital Markets downgraded JinkoSolar from an “underperform” rating to a “sell” rating in a research note on Friday, January 10th. Three research analysts have rated the stock with a sell rating, three have assigned a hold rating and one has assigned a buy rating to the company. According to MarketBeat.com, the company has an average rating of “Hold” and an average target price of $27.19.

JinkoSolar Price Performance

The business’s 50 day moving average price is $21.38 and its 200 day moving average price is $23.11. The stock has a market capitalization of $792.49 million, a P/E ratio of 25.28 and a beta of 0.17. The company has a debt-to-equity ratio of 0.81, a current ratio of 1.22 and a quick ratio of 0.97.

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

Hedge Funds Weigh In On JinkoSolar

Several institutional investors have recently bought and sold shares of JKS. Public Employees Retirement System of Ohio raised its position in JinkoSolar by 42.7% during the 4th 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 during the last quarter. Twinbeech Capital LP boosted its holdings in JinkoSolar by 219.9% during the 4th quarter. Twinbeech Capital LP now owns 25,960 shares of the semiconductor company’s stock valued at $646,000 after acquiring an additional 17,846 shares during the period. Millennium Management LLC purchased a new stake in shares of JinkoSolar during the 4th quarter worth $2,846,000. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main lifted its holdings in shares of 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 valued at $217,000 after purchasing an additional 3,998 shares during the last quarter. Finally, CoreCommodity Management LLC lifted its stake in shares of 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 acquiring an additional 640 shares during the period. 35.82% of the stock is 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.