JinkoSolar (NYSE:JKS) Reaches New 12-Month Low – Here’s What Happened

JinkoSolar Holding Co., Ltd. (NYSE:JKS)’s stock price hit a new 52-week low on Thursday . The company traded as low as $13.75 and last traded at $13.82, with a volume of 614303 shares. The stock had previously closed at $15.74.

Analyst Upgrades and Downgrades

JKS has been the topic of several research reports. Daiwa Capital Markets cut JinkoSolar from an “underperform” rating to a “sell” rating in a report on Friday, January 10th. The Goldman Sachs Group decreased their target price on JinkoSolar from $20.00 to $18.00 and set a “sell” rating on the stock in a report on Thursday, March 27th. UBS Group reduced their target price on JinkoSolar from $25.00 to $22.00 and set a “neutral” rating for the company in a report on Thursday, March 27th. Finally, Glj Research dropped their price target on JinkoSolar from $13.08 to $10.95 and set a “sell” rating on the stock in a research note on Thursday, January 23rd. Three analysts have rated the stock with a sell rating, three have issued a hold rating and one has given a buy rating to the stock. Based on data from MarketBeat, JinkoSolar has an average rating of “Hold” and a consensus price target of $27.19.

JinkoSolar Stock Up 3.5 %

The business has a fifty day moving average price of $20.70 and a two-hundred day moving average price of $22.84. The firm has a market cap of $763.89 million, a PE ratio of 24.36 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 issued its earnings results on Wednesday, March 26th. The semiconductor company reported ($1.01) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.46) by ($0.55). The business had revenue of $20.65 billion during the quarter, compared to analyst estimates of $3.38 billion. JinkoSolar had a net margin of 0.53% and a return on equity of 4.18%. JinkoSolar’s revenue for the quarter was down 37.1% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.54 EPS. On average, analysts anticipate that JinkoSolar Holding Co., Ltd. will post -0.24 EPS for the current fiscal year.

Institutional Investors Weigh In On JinkoSolar

Institutional investors have recently modified their holdings of the stock. Barclays PLC raised its holdings 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 acquiring an additional 537 shares in the last quarter. CoreCommodity Management LLC increased its position in 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 purchasing an additional 640 shares during the last quarter. Mitsubishi UFJ Asset Management Co. Ltd. lifted its holdings in shares of JinkoSolar by 5.3% during the 4th quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 20,289 shares of the semiconductor company’s stock valued at $532,000 after buying an additional 1,028 shares during the last quarter. CANADA LIFE ASSURANCE Co bought a new stake in shares of JinkoSolar in the 4th quarter valued at approximately $55,000. Finally, DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main grew its position in JinkoSolar by 85.1% in the fourth quarter. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main now owns 8,697 shares of the semiconductor company’s stock worth $217,000 after acquiring an additional 3,998 shares in the last quarter. Institutional investors and hedge funds own 35.82% of the company’s stock.

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.