JinkoSolar (NYSE:JKS) Reaches New 52-Week Low – Time to Sell?

JinkoSolar Holding Co., Ltd. (NYSE:JKS)’s stock price reached a new 52-week low during trading on Friday . The company traded as low as $16.30 and last traded at $16.92, with a volume of 26101 shares. The stock had previously closed at $17.53.

Analyst Ratings Changes

JKS has been the subject of several research analyst reports. UBS Group lowered 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. Daiwa Capital Markets downgraded JinkoSolar from an “underperform” rating to a “sell” rating in a report on Friday, January 10th. Glj Research dropped 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. Jefferies Financial Group lifted their price target on shares of JinkoSolar from $36.00 to $65.00 and gave the company a “buy” rating in a research note on Thursday, December 5th. Finally, The Goldman Sachs Group decreased their target price on JinkoSolar from $20.00 to $18.00 and set a “sell” rating for the company in a research report on Thursday, March 27th. Three equities research analysts have rated the stock with a sell rating, three have given a hold rating and one has given a buy rating to the stock. According to MarketBeat, the company has an average rating of “Hold” and an average target price of $27.19.

JinkoSolar Stock Performance

The company has a debt-to-equity ratio of 0.81, a current ratio of 1.22 and a quick ratio of 0.97. The company’s fifty day moving average price is $21.57 and its 200 day moving average price is $23.12. The company has a market cap of $834.27 million, a PE ratio of 26.76 and a beta of 0.17.

JinkoSolar (NYSE:JKS) last issued 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). JinkoSolar had a net margin of 0.53% and a return on equity of 4.18%. The business had revenue of $20.65 billion for the quarter, compared to analysts’ expectations of $3.38 billion. During the same period in the previous year, the business posted $0.54 earnings per share. The business’s revenue was down 37.1% compared to the same quarter last year. On average, equities research analysts predict that JinkoSolar Holding Co., Ltd. will post -0.24 earnings per share for the current year.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently modified their holdings of JKS. Verition Fund Management LLC bought a new position in JinkoSolar in the 3rd quarter valued at $682,000. State Street Corp boosted its stake in JinkoSolar by 10.7% during the third quarter. State Street Corp now owns 696,763 shares of the semiconductor company’s stock valued at $18,687,000 after buying an additional 67,223 shares during the period. Public Employees Retirement System of Ohio purchased a new position in JinkoSolar during the third quarter worth about $928,000. Barclays PLC increased its stake in JinkoSolar by 30.2% in the 3rd quarter. Barclays PLC now owns 2,318 shares of the semiconductor company’s stock worth $62,000 after acquiring an additional 537 shares during the last quarter. Finally, Geode Capital Management LLC raised its holdings in shares of JinkoSolar by 19.7% in the 3rd quarter. Geode Capital Management LLC now owns 44,613 shares of the semiconductor company’s stock valued at $1,197,000 after acquiring an additional 7,333 shares in the last quarter. 35.82% of the stock is owned by 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.