JinkoSolar (NYSE:JKS) Hits New 12-Month Low at $21.56

JinkoSolar Holding Co., Ltd. (NYSE:JKS) reached a new 52-week low 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 Analysts Forecast Growth

Several equities analysts have weighed in on JKS shares. StockNews.com cut JinkoSolar from a “hold” rating to a “sell” rating in a report on Wednesday. HSBC restated a “hold” rating and set a $30.00 price target on shares of JinkoSolar in a report on Monday, February 5th. The Goldman Sachs Group cut their price target on JinkoSolar from $26.00 to $23.00 and set a “sell” rating for the company in a report on Thursday, April 11th. UBS Group cut their price target on JinkoSolar from $31.00 to $30.00 and set a “neutral” rating for the company in a report on Thursday, March 21st. Finally, Roth Mkm reiterated a “neutral” rating and issued a $25.00 target price (down previously from $50.00) on shares of JinkoSolar in a 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, JinkoSolar presently has a consensus rating of “Hold” and an average price target of $26.60.

JinkoSolar Price Performance

The company has a current ratio of 1.04, a quick ratio of 0.81 and a debt-to-equity ratio of 0.52. The stock has a 50 day moving average of $25.46 and a 200-day moving average of $29.36. The stock has a market capitalization of $1.13 billion, a P/E ratio of 2.75 and a beta of 0.37.

JinkoSolar (NYSE:JKS) last announced its quarterly earnings results on Wednesday, March 20th. The semiconductor company reported $1.21 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $2.32 by ($1.11). JinkoSolar had a net margin of 2.89% and a return on equity of 11.85%. The company had revenue of $4.62 billion during the quarter, compared to analysts’ expectations of $4.08 billion. On average, equities research analysts anticipate that JinkoSolar Holding Co., Ltd. will post 5.27 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the stock. Rhumbline Advisers grew its stake in JinkoSolar by 23.6% during the 3rd quarter. Rhumbline Advisers now owns 2,114 shares of the semiconductor company’s stock worth $64,000 after buying an additional 404 shares during the last quarter. Seaport Global Advisors LLC grew its stake in JinkoSolar by 33.3% during the 4th quarter. Seaport Global Advisors LLC now owns 1,878 shares of the semiconductor company’s stock worth $77,000 after buying an additional 469 shares during the last quarter. Advisors Asset Management Inc. grew its stake in JinkoSolar by 7.6% during the 4th quarter. Advisors Asset Management Inc. now owns 7,251 shares of the semiconductor company’s stock worth $296,000 after buying an additional 514 shares during the last quarter. Toroso Investments LLC purchased a new position in JinkoSolar during the 3rd quarter worth $35,000. Finally, Envestnet Asset Management Inc. grew its stake in JinkoSolar by 2.6% during the 3rd quarter. Envestnet Asset Management Inc. now owns 24,867 shares of the semiconductor company’s stock valued at $755,000 after purchasing an additional 638 shares during the last quarter. 35.82% of the stock is currently 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; and develops commercial solar power projects.