JinkoSolar (NYSE:JKS) Shares Down 7.5%

JinkoSolar Holding Co., Ltd. (NYSE:JKS)’s share price dropped 7.5% on Thursday . The stock traded as low as $19.87 and last traded at $19.99, approximately 1,481,606 shares traded hands during trading. An increase of 47% from the average daily volume of 1,005,618 shares. The stock had previously closed at $21.61.

JKS has been the topic of several research reports. Credit Suisse Group reaffirmed a “sell” rating and set a $6.00 price objective on shares of Deutsche Bank in a research report on Monday, July 1st. Roth Capital set a $24.00 price objective on JinkoSolar and gave the company a “buy” rating in a research report on Monday, May 20th. Zacks Investment Research raised DLH from a “sell” rating to a “hold” rating in a research report on Tuesday. ValuEngine cut Zynerba Pharmaceuticals from a “buy” rating to a “hold” rating in a research report on Tuesday, May 28th. Finally, UBS Group cut JinkoSolar from a “buy” rating to a “neutral” rating and lifted their price objective for the company from $22.00 to $25.00 in a research report on Monday, June 17th. One research analyst has rated the stock with a sell rating, four have assigned a hold rating and three have given a buy rating to the company’s stock. JinkoSolar currently has a consensus rating of “Hold” and an average target price of $19.00.

The company’s fifty day moving average is $21.85. The firm has a market cap of $603.70 million, a PE ratio of 13.15, a PEG ratio of 0.42 and a beta of 2.07. The company has a quick ratio of 0.71, a current ratio of 0.94 and a debt-to-equity ratio of 0.29.



JinkoSolar (NYSE:JKS) last released its earnings results on Friday, June 28th. The semiconductor company reported $0.15 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.23 by ($0.08). JinkoSolar had a net margin of 1.68% and a return on equity of 5.35%. The business had revenue of $845.90 million for the quarter, compared to analysts’ expectations of $976.85 million. During the same quarter in the previous year, the business posted $0.05 earnings per share. JinkoSolar’s revenue for the quarter was up 16.1% on a year-over-year basis. As a group, research analysts forecast that JinkoSolar Holding Co., Ltd. will post 2.79 EPS for the current year.

Hedge funds have recently added to or reduced their stakes in the company. Hanson & Doremus Investment Management purchased a new position in shares of JinkoSolar during the first quarter valued at approximately $30,000. CENTRAL TRUST Co lifted its holdings in shares of JinkoSolar by 125.6% during the first quarter. CENTRAL TRUST Co now owns 2,497 shares of the semiconductor company’s stock valued at $45,000 after purchasing an additional 1,390 shares during the last quarter. Two Sigma Advisers LP purchased a new position in shares of JinkoSolar during the fourth quarter valued at approximately $157,000. SG Americas Securities LLC purchased a new position in shares of JinkoSolar during the first quarter valued at approximately $172,000. Finally, Northwestern Mutual Wealth Management Co. lifted its holdings in shares of JinkoSolar by 5,868.9% during the first quarter. Northwestern Mutual Wealth Management Co. now owns 11,341 shares of the semiconductor company’s stock valued at $204,000 after purchasing an additional 11,151 shares during the last quarter. Hedge funds and other institutional investors own 37.61% of the company’s stock.

JinkoSolar Company Profile (NYSE:JKS)

JinkoSolar Holding Co, Ltd., together with its subsidiaries, engages in the design, development, production, and marketing of photovoltaic products in the People's Republic of China and internationally. The company offers solar modules, silicon wafers, solar cells, recovered silicon materials, and silicon ingots.

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