JinkoSolar (NYSE:JKS) Trading Down 6.8% – Should You Sell?

JinkoSolar Holding Co., Ltd. (NYSE:JKS)’s stock price traded down 6.8% during mid-day trading on Tuesday . The stock traded as low as $20.91 and last traded at $21.13. 341,533 shares changed hands during mid-day trading, a decline of 68% from the average session volume of 1,073,451 shares. The stock had previously closed at $22.66.

Analyst Ratings Changes

JKS has been the subject of several recent research reports. StockNews.com upgraded JinkoSolar from a “sell” rating to a “hold” rating in a research report on Wednesday, September 18th. Roth Mkm decreased their price target on JinkoSolar from $25.00 to $20.00 and set a “neutral” rating on the stock in a research note on Wednesday, September 4th. Finally, The Goldman Sachs Group decreased their target price on JinkoSolar from $21.00 to $18.00 and set a “sell” rating on the stock in a research note on Tuesday, September 3rd. One research analyst has rated the stock with a sell rating and six have issued a hold rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Hold” and a consensus price target of $24.60.

JinkoSolar Trading Down 5.9 %

The firm has a market cap of $1.13 billion, a PE ratio of 35.81 and a beta of 0.44. The company has a current ratio of 1.22, a quick ratio of 0.97 and a debt-to-equity ratio of 0.81. The business has a fifty day moving average price of $22.58 and a 200 day moving average price of $22.70.

JinkoSolar (NYSE:JKS) last released its quarterly earnings results on Friday, August 30th. The semiconductor company reported $0.97 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.05 by $0.92. JinkoSolar had a return on equity of 4.18% and a net margin of 0.53%. The firm had revenue of $3.31 billion for the quarter, compared to the consensus estimate of $3.85 billion. Analysts forecast that JinkoSolar Holding Co., Ltd. will post -0.42 EPS for the current year.

Institutional Trading of JinkoSolar

Several hedge funds have recently modified their holdings of the business. Signaturefd LLC raised its holdings in JinkoSolar by 108.0% during the third quarter. Signaturefd LLC now owns 1,246 shares of the semiconductor company’s stock worth $33,000 after purchasing an additional 647 shares during the last quarter. Headlands Technologies LLC grew its position in shares of JinkoSolar by 607.7% in the second quarter. Headlands Technologies LLC now owns 4,048 shares of the semiconductor company’s stock valued at $84,000 after purchasing an additional 3,476 shares during the period. Banco BTG Pactual S.A. purchased a new stake in shares of JinkoSolar in the first quarter valued at $207,000. Banque Cantonale Vaudoise grew its position in shares of JinkoSolar by 198.1% in the third quarter. Banque Cantonale Vaudoise now owns 7,923 shares of the semiconductor company’s stock valued at $212,000 after purchasing an additional 5,265 shares during the period. Finally, Harel Insurance Investments & Financial Services Ltd. grew its position in JinkoSolar by 43.3% during the second quarter. Harel Insurance Investments & Financial Services Ltd. now owns 11,659 shares of the semiconductor company’s stock valued at $242,000 after acquiring an additional 3,521 shares during the period. 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.