JinkoSolar (NYSE:JKS) Stock Price Down 6% – Time to Sell?

Shares of JinkoSolar Holding Company Limited (NYSE:JKS) dropped 6% on Wednesday . The stock traded as low as $10.11 and last traded at $10.0640. 575,441 shares traded hands during mid-day 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 commented on JKS. Weiss Ratings restated a “sell (d)” rating on shares of JinkoSolar in a research note on Monday, August 3rd. Zacks Research lowered shares of JinkoSolar from a “hold” rating to a “strong sell” rating in a research report on Thursday, September 3rd. Roth Capital dropped their price objective on shares of JinkoSolar from $25.00 to $16.00 and set a “neutral” rating on the stock in a research note on Thursday, August 27th. Wall Street Zen downgraded shares of JinkoSolar from a “hold” rating to a “sell” rating in a research report on Saturday, August 29th. Finally, Freedom Broker cut shares of JinkoSolar from a “strong-buy” rating to a “hold” rating in a research note on Thursday, August 27th. One investment 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 issued a Sell rating to the stock. According to data from MarketBeat, JinkoSolar presently has a consensus rating of “Hold” and a consensus target price of $19.88.

JinkoSolar Stock Up 4.7%

The company has a debt-to-equity ratio of 1.16, a quick ratio of 0.95 and a current ratio of 1.26. The firm has a market capitalization of $563.76 million, a price-to-earnings ratio of -1.15 and a beta of 0.51. The firm has a fifty day moving average price of $14.67 and a 200 day moving average price of $19.48.

JinkoSolar (NYSE:JKS) last released its earnings results on Wednesday, August 26th. The semiconductor company reported ($2.53) EPS for the quarter, missing analysts’ consensus estimates of ($0.75) by ($1.78). The business had revenue of $1.82 billion during the quarter, compared to analyst estimates of $2.17 billion. JinkoSolar had a negative net margin of 5.85% and a negative return on equity of 9.93%. As a group, sell-side analysts expect that JinkoSolar Holding Company Limited will post -5.63 EPS for the current fiscal year.

Insider Activity at JinkoSolar

In related news, Director Wing Siew sold 16,000 shares of the business’s stock in a transaction dated Tuesday, June 30th. The shares were sold at an average price of $16.49, for a total transaction of $263,840.00. Following the sale, the director owned 170,000 shares of the company’s stock, valued at approximately $2,803,300. The trade was a 8.60% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. 19.80% of the stock is owned by company insiders.

Institutional Inflows and Outflows

A number of hedge funds have recently added to or reduced their stakes in the stock. Hsbc Holdings PLC increased its stake in JinkoSolar by 355.9% in the 1st quarter. Hsbc Holdings PLC now owns 189,569 shares of the semiconductor company’s stock valued at $4,817,000 after purchasing an additional 147,992 shares in the last quarter. Renaissance Technologies LLC boosted its position in JinkoSolar by 96.2% during the first quarter. Renaissance Technologies LLC now owns 82,200 shares of the semiconductor company’s stock worth $2,089,000 after purchasing an additional 40,300 shares in the last quarter. Capital Wealth Planning LLC purchased a new stake in JinkoSolar during the fourth quarter worth $3,299,000. Legal & General Group Plc grew its holdings in JinkoSolar by 9,212.1% in the fourth quarter. Legal & General Group Plc now owns 499,964 shares of the semiconductor company’s stock valued at $12,904,000 after purchasing an additional 494,595 shares during the last quarter. Finally, Engineers Gate Manager LP acquired a new stake in JinkoSolar in the second quarter valued at $298,000. 35.82% of the stock is owned by hedge funds and other institutional investors.

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.