JinkoSolar (NYSE:JKS) Shares Down 8.2% – Should You Sell?

JinkoSolar Holding Company Limited (NYSE:JKS) shares dropped 8.2% on Tuesday . The stock traded as low as $26.52 and last traded at $27.0740. Approximately 229,231 shares were traded during mid-day trading, a decline of 72% from the average daily volume of 814,158 shares. The stock had previously closed at $29.50.

Analyst Ratings Changes

A number of equities analysts have recently commented on the stock. Wall Street Zen raised shares of JinkoSolar from a “sell” rating to a “hold” rating in a report on Saturday, January 10th. The Goldman Sachs Group increased their price objective on JinkoSolar from $18.00 to $20.00 and gave the stock a “sell” rating in a report on Wednesday, November 19th. Zacks Research upgraded shares of JinkoSolar from a “hold” rating to a “strong-buy” rating in a report on Tuesday, January 13th. UBS Group reiterated a “neutral” rating on shares of JinkoSolar in a report on Friday, November 28th. Finally, Roth Capital raised their price target on shares of JinkoSolar from $17.00 to $25.00 and gave the company a “neutral” rating in a research report on Friday, November 21st. One equities research analyst has rated the stock with a Strong Buy rating, three have assigned a Hold rating and three have assigned a Sell rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Reduce” and a consensus target price of $19.49.

JinkoSolar Stock Performance

The company has a quick ratio of 1.02, a current ratio of 1.30 and a debt-to-equity ratio of 1.07. The stock has a market cap of $1.29 billion, a PE ratio of -2.73 and a beta of 0.52. The firm has a 50 day moving average price of $26.98 and a 200 day moving average price of $24.94.

JinkoSolar (NYSE:JKS) last announced its earnings results on Monday, November 17th. The semiconductor company reported ($2.30) earnings per share for the quarter, topping the consensus estimate of ($2.56) by $0.26. JinkoSolar had a negative return on equity of 8.96% and a negative net margin of 4.98%.The firm had revenue of $2.27 billion for the quarter, compared to the consensus estimate of $2.72 billion. As a group, research analysts forecast that JinkoSolar Holding Company Limited will post -0.24 earnings per share for the current year.

Institutional Trading of JinkoSolar

Several large investors have recently added to or reduced their stakes in JKS. SG Americas Securities LLC grew its position in JinkoSolar by 189.9% in the 4th quarter. SG Americas Securities LLC now owns 194,231 shares of the semiconductor company’s stock valued at $5,013,000 after acquiring an additional 127,234 shares in the last quarter. FNY Investment Advisers LLC acquired a new stake in shares of JinkoSolar during the third quarter worth about $225,000. Progeny 3 Inc. purchased a new position in shares of JinkoSolar during the third quarter worth approximately $2,341,000. Millennium Management LLC acquired a new stake in shares of JinkoSolar during the third quarter worth about $1,765,000. Finally, Man Group plc acquired a new position in shares of JinkoSolar in the third quarter valued at approximately $329,000. 35.82% of the stock is currently owned by hedge funds and other institutional investors.

JinkoSolar Company Profile

JinkoSolar Holding Co, Ltd. (NYSE: JKS) is a vertically integrated solar photovoltaic (PV) manufacturer headquartered in Shanghai, China. The company specializes in the design, development and production of high-performance solar modules, silicon wafers, solar cells and related components. Since its founding in 2006, JinkoSolar has become one of the world’s largest solar module suppliers, known for delivering reliable products to utility, commercial and residential customers.

JinkoSolar’s product portfolio encompasses a broad range of monocrystalline and polycrystalline PV modules, including half-cell, bifacial and high-efficiency Tiger module series.