JinkoSolar Holding Company Limited (NYSE:JKS – Get Free Report) shares hit a new 52-week low on Tuesday . The company traded as low as $17.30 and last traded at $17.33, with a volume of 531838 shares trading hands. The stock had previously closed at $17.97.
Analyst Ratings Changes
A number of analysts have recently commented on JKS shares. UBS Group upped their price objective on JinkoSolar from $23.00 to $24.00 and gave the stock a “neutral” rating in a report on Friday, May 29th. Wall Street Zen upgraded JinkoSolar from a “sell” rating to a “hold” rating in a report on Saturday, May 2nd. Freedom Capital raised JinkoSolar from a “hold” rating to a “strong-buy” rating in a research report on Friday, April 17th. Weiss Ratings lowered JinkoSolar from a “hold (c-)” rating to a “sell (d)” rating in a research note on Wednesday, May 6th. Finally, Daiwa Securities Group raised JinkoSolar from a “sell” rating to a “buy” rating and set a $28.50 price objective on the stock in a research note on Tuesday, March 24th. One equities research analyst has rated the stock with a Strong Buy rating, one has issued a Buy rating, three have issued a Hold rating and two have given a Sell rating to the stock. According to MarketBeat.com, JinkoSolar has an average rating of “Hold” and an average target price of $24.38.
Read Our Latest Analysis on JinkoSolar
JinkoSolar Trading Down 3.6%
JinkoSolar (NYSE:JKS – Get Free Report) last issued its quarterly earnings data on Wednesday, April 29th. The semiconductor company reported ($1.52) EPS for the quarter, topping analysts’ consensus estimates of ($1.84) by $0.32. JinkoSolar had a negative return on equity of 9.52% and a negative net margin of 5.62%.The company had revenue of $1.78 billion for the quarter, compared to analysts’ expectations of $2.09 billion. As a group, equities analysts predict that JinkoSolar Holding Company Limited will post -2.76 earnings per share for the current fiscal year.
JinkoSolar Announces Dividend
The business also recently declared an annual dividend, which will be paid on Thursday, July 9th. Shareholders of record on Monday, June 22nd will be issued a $1.50 dividend. This represents a yield of 837.0%. The ex-dividend date is Monday, June 22nd. JinkoSolar’s dividend payout ratio is currently -15.20%.
Insider Activity at JinkoSolar
In other news, Director Xianhua Li sold 1,280,000 shares of the business’s stock in a transaction on Wednesday, May 13th. The shares were sold at an average price of $25.53, for a total transaction of $32,678,400.00. Following the transaction, the director directly owned 10,349,612 shares of the company’s stock, valued at approximately $264,225,594.36. The trade was a 11.01% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Wing Keong Siew sold 16,000 shares of the company’s stock in a transaction on Wednesday, May 13th. The shares were sold at an average price of $26.11, for a total transaction of $417,760.00. Following the completion of the transaction, the director owned 186,000 shares of the company’s stock, valued at $4,856,460. This trade represents a 7.92% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. 19.80% of the stock is owned by company insiders.
Hedge Funds Weigh In On JinkoSolar
A number of institutional investors have recently added to or reduced their stakes in the company. Raymond James Financial Inc. purchased a new position in JinkoSolar in the second quarter valued at about $47,000. Banque Cantonale Vaudoise bought a new position in JinkoSolar during the 4th quarter valued at $58,000. Leonteq Securities AG acquired a new position in JinkoSolar during the 4th quarter worth $101,000. Federation des caisses Desjardins du Quebec grew its holdings in JinkoSolar by 277.9% during the 4th quarter. Federation des caisses Desjardins du Quebec now owns 7,086 shares of the semiconductor company’s stock worth $183,000 after acquiring an additional 5,211 shares in the last quarter. Finally, Cornerstone Investment Partners LLC bought a new stake in shares of JinkoSolar in the 4th quarter worth about $205,000. Institutional investors and hedge funds own 35.82% of the company’s stock.
JinkoSolar Company Profile
JinkoSolar Holding Co, Ltd. (NYSE: JKS) is a vertically integrated solar photovoltaic (PV) manufacturer headquartered in Shanghai, China. The company specializes in the design, development and production of high-performance solar modules, silicon wafers, solar cells and related components. Since its founding in 2006, JinkoSolar has become one of the world’s largest solar module suppliers, known for delivering reliable products to utility, commercial and residential customers.
JinkoSolar’s product portfolio encompasses a broad range of monocrystalline and polycrystalline PV modules, including half-cell, bifacial and high-efficiency Tiger module series.
Featured Articles
- Five stocks we like better than JinkoSolar
- Oracle’s Sell-Off Looks More Like a Mispricing Than a Warning
- Apple’s Intel Deal Arrives at the Right Time for Its Stock
- Liquid Gold: The AI Cooling Retrofit Trade
- 3 Dividend Stocks Under $30 to Anchor Your Portfolio
Receive News & Ratings for JinkoSolar Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for JinkoSolar and related companies with MarketBeat.com's FREE daily email newsletter.
