JinkoSolar (NYSE:JKS) Sets New 1-Year Low at $21.56

JinkoSolar Holding Co., Ltd. (NYSE:JKS)’s stock price reached a new 52-week low during trading on Wednesday . The stock traded as low as $21.56 and last traded at $21.60, with a volume of 930345 shares trading hands. The stock had previously closed at $22.51.

Wall Street Analyst Weigh In

JKS has been the subject of a number of recent research reports. The Goldman Sachs Group reduced their target price on shares of JinkoSolar from $26.00 to $23.00 and set a “sell” rating for the company in a research report on Thursday, April 11th. StockNews.com cut shares of JinkoSolar from a “hold” rating to a “sell” rating in a research report on Wednesday. Daiwa Capital Markets cut shares of JinkoSolar from an “outperform” rating to a “neutral” rating and set a $25.00 target price for the company. in a research report on Monday, February 5th. HSBC reissued a “hold” rating and issued a $30.00 target price on shares of JinkoSolar in a research report on Monday, February 5th. Finally, Roth Mkm reissued a “neutral” rating and issued a $25.00 target price (down previously from $50.00) on shares of JinkoSolar in a research report on Thursday, March 21st. Two investment analysts have rated the stock with a sell rating and five have given a hold rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus price target of $26.60.

JinkoSolar Price Performance

The company’s 50-day moving average is $25.63 and its two-hundred day moving average is $29.46. The company has a debt-to-equity ratio of 0.52, a current ratio of 1.04 and a quick ratio of 0.81. The firm has a market cap of $1.13 billion, a P/E ratio of 2.87 and a beta of 0.37.

JinkoSolar (NYSE:JKS) last posted its quarterly earnings data on Wednesday, March 20th. The semiconductor company reported $1.21 earnings per share for the quarter, missing the consensus estimate of $2.32 by ($1.11). JinkoSolar had a return on equity of 11.85% and a net margin of 2.89%. The firm had revenue of $4.62 billion for the quarter, compared to the consensus estimate of $4.08 billion. Sell-side analysts anticipate that JinkoSolar Holding Co., Ltd. will post 5.27 EPS for the current fiscal year.

Institutional Investors Weigh In On JinkoSolar

Several institutional investors and hedge funds have recently bought and sold shares of JKS. Mackenzie Financial Corp lifted its holdings in shares of JinkoSolar by 22.6% in the third quarter. Mackenzie Financial Corp now owns 2,678,032 shares of the semiconductor company’s stock worth $78,895,000 after acquiring an additional 493,976 shares during the last quarter. BlackRock Inc. lifted its holdings in shares of JinkoSolar by 16.2% in the first quarter. BlackRock Inc. now owns 2,632,512 shares of the semiconductor company’s stock worth $127,123,000 after acquiring an additional 366,251 shares during the last quarter. Morgan Stanley lifted its holdings in shares of JinkoSolar by 65.7% in the third quarter. Morgan Stanley now owns 2,026,002 shares of the semiconductor company’s stock worth $61,530,000 after acquiring an additional 803,164 shares during the last quarter. Invesco Ltd. lifted its holdings in shares of JinkoSolar by 10.0% in the third quarter. Invesco Ltd. now owns 1,657,885 shares of the semiconductor company’s stock worth $50,350,000 after acquiring an additional 150,262 shares during the last quarter. Finally, Vanguard Group Inc. lifted its holdings in shares of JinkoSolar by 1.4% in the fourth quarter. Vanguard Group Inc. now owns 1,576,610 shares of the semiconductor company’s stock worth $58,240,000 after acquiring an additional 22,254 shares during the last quarter. Institutional investors own 35.82% of the company’s stock.

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; and develops commercial solar power projects.