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

JinkoSolar Holding Co., Ltd. (NYSE:JKS)’s share price fell 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 traded 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.

Analysts Set New Price Targets

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

JinkoSolar Price Performance

The company’s fifty day moving average price is $22.58 and its two-hundred day moving average price is $22.70. The company has a market cap of $1.13 billion, a price-to-earnings ratio of 35.81 and a beta of 0.44. The company has a quick ratio of 0.97, a current ratio of 1.22 and a debt-to-equity ratio of 0.81.

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

Institutional Trading of JinkoSolar

Several hedge funds and other institutional investors have recently bought and sold shares of JKS. Signaturefd LLC grew its holdings in JinkoSolar by 108.0% during the 3rd quarter. Signaturefd LLC now owns 1,246 shares of the semiconductor company’s stock worth $33,000 after acquiring an additional 647 shares during the last quarter. Headlands Technologies LLC raised its holdings 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 last quarter. Banque Cantonale Vaudoise grew its position in JinkoSolar by 198.1% during the third quarter. Banque Cantonale Vaudoise now owns 7,923 shares of the semiconductor company’s stock valued at $212,000 after buying an additional 5,265 shares during the period. Banco BTG Pactual S.A. bought a new position in JinkoSolar during the first quarter valued at about $207,000. Finally, Harel Insurance Investments & Financial Services Ltd. boosted 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 worth $242,000 after purchasing an additional 3,521 shares during the period. Institutional investors and hedge funds 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; solar power generation and solar system EPC services; and energy storage system, as well as undertakes solar power projects.