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

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

Analysts Set New Price Targets

Several research analysts have issued reports on JKS shares. Daiwa Capital Markets lowered shares of JinkoSolar from an “underperform” rating to a “sell” rating in a research report on Friday, January 10th. UBS Group reduced their price objective on JinkoSolar from $25.00 to $22.00 and set a “neutral” rating for the company in a research note on Thursday, March 27th. Glj Research reduced their target price on JinkoSolar from $13.08 to $10.95 and set a “sell” rating for the company in a report on Thursday, January 23rd. Finally, The Goldman Sachs Group decreased their price target 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 analysts have rated the stock with a sell rating, three have given a hold rating and one has given a buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus price target of $27.19.

JinkoSolar Stock Performance

The firm’s 50 day simple moving average is $21.47 and its 200-day simple moving average is $23.11. The company has a market capitalization of $834.00 million, a price-to-earnings ratio of 26.59 and a beta of 0.17. The company has a debt-to-equity ratio of 0.81, a quick ratio of 0.97 and a current ratio of 1.22.

JinkoSolar (NYSE:JKS) last issued its quarterly 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). 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 quarter in the prior year, the firm posted $0.54 EPS. The business’s quarterly revenue was down 37.1% compared to the same quarter last year. Analysts expect that JinkoSolar Holding Co., Ltd. will post -0.24 EPS for the current year.

Institutional Trading of JinkoSolar

A number of hedge funds have recently made changes to their positions in the stock. Public Employees Retirement System of Ohio grew its position in JinkoSolar by 42.7% during the fourth quarter. Public Employees Retirement System of Ohio now owns 49,365 shares of the semiconductor company’s stock valued at $1,229,000 after purchasing an additional 14,765 shares in the last quarter. Twinbeech Capital LP boosted its stake in shares of JinkoSolar by 219.9% during the 4th quarter. Twinbeech Capital LP now owns 25,960 shares of the semiconductor company’s stock valued at $646,000 after buying an additional 17,846 shares during the period. Millennium Management LLC purchased a new position in shares of JinkoSolar during the 4th quarter valued at $2,846,000. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main increased its stake in shares of 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 during the last quarter. Finally, CoreCommodity Management LLC raised its holdings in shares of 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 acquiring an additional 640 shares in the last quarter. 35.82% of the stock is owned by hedge funds and other 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.