JinkoSolar (NYSE:JKS) Stock Price Down 7.7% – Should You Sell?

JinkoSolar Holding Co., Ltd. (NYSE:JKS)’s stock price was down 7.7% during trading on Monday . The company traded as low as $18.22 and last traded at $18.08. Approximately 234,198 shares changed hands 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

A number of analysts recently weighed in on JKS shares. Daiwa Capital Markets cut shares of JinkoSolar from an “underperform” rating to a “sell” rating in a research note on Friday, January 10th. UBS Group reduced their target price on JinkoSolar from $25.00 to $22.00 and set a “neutral” rating on the stock in a report on Thursday. Glj Research lowered their price objective on shares of 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 decreased their price target on shares of JinkoSolar from $20.00 to $18.00 and set a “sell” rating on the stock in a research note on Thursday. Finally, Jefferies Financial Group upped their price objective on JinkoSolar from $36.00 to $65.00 and gave the stock a “buy” rating in a report on Thursday, December 5th. 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’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus price target of $27.19.

JinkoSolar Trading Down 5.8 %

The business’s 50 day simple moving average is $21.74 and its 200-day simple moving average is $23.20. The stock has a market capitalization of $981.24 million, a P/E ratio of 31.22 and a beta of 0.40. 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 announced its quarterly earnings results on Wednesday, March 26th. The semiconductor company reported ($1.01) EPS 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 the consensus estimate of $3.38 billion. JinkoSolar had a net margin of 0.53% and a return on equity of 4.18%. The business’s revenue was down 37.1% compared to the same quarter last year. During the same period last year, the company earned $0.54 earnings per share. As a group, analysts forecast that JinkoSolar Holding Co., Ltd. will post -0.24 EPS for the current year.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Barclays PLC boosted its position in shares of JinkoSolar by 30.2% during the third quarter. Barclays PLC now owns 2,318 shares of the semiconductor company’s stock worth $62,000 after buying an additional 537 shares during the period. CoreCommodity Management LLC boosted its position in JinkoSolar by 1.1% during the fourth 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. Mitsubishi UFJ Asset Management Co. Ltd. lifted its position in JinkoSolar by 5.3% during the fourth quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 20,289 shares of the semiconductor company’s stock worth $532,000 after acquiring an additional 1,028 shares during the last quarter. Daiwa Securities Group Inc. grew its holdings in JinkoSolar by 15.8% in the 3rd quarter. Daiwa Securities Group Inc. now owns 8,800 shares of the semiconductor company’s stock valued at $236,000 after buying an additional 1,200 shares in the last quarter. Finally, CANADA LIFE ASSURANCE Co bought a new position in JinkoSolar during the fourth quarter worth about $55,000. 35.82% of the stock is owned by institutional investors and hedge funds.

About JinkoSolar

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.