Shares of JinkoSolar Holding Company Limited (NYSE:JKS – Get Free Report) were down 6% on Wednesday . The stock traded as low as $10.11 and last traded at $10.0640. 575,441 shares were traded during trading, a decline of 21% from the average session volume of 724,262 shares. The stock had previously closed at $10.71.
Analyst Upgrades and Downgrades
A number of research analysts recently issued reports on the company. Zacks Research downgraded JinkoSolar from a “hold” rating to a “strong sell” rating in a report on Thursday, September 3rd. Weiss Ratings reaffirmed a “sell (d)” rating on shares of JinkoSolar in a research report on Monday, August 3rd. UBS Group raised their price target on shares of JinkoSolar from $23.00 to $24.00 and gave the stock a “neutral” rating in a research note on Friday, May 29th. Freedom Broker downgraded shares of JinkoSolar from a “strong-buy” rating to a “hold” rating in a report on Thursday, August 27th. Finally, The Goldman Sachs Group set a $11.00 price objective on shares of JinkoSolar in a research report on Thursday, August 27th. One investment analyst has rated the stock with a Strong Buy rating, one has given a Buy rating, three have issued a Hold rating and three have given a Sell rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Hold” and an average target price of $19.88.
Check Out Our Latest Stock Report on JinkoSolar
JinkoSolar Trading Down 6.0%
JinkoSolar (NYSE:JKS – Get Free Report) last released its quarterly earnings data on Wednesday, August 26th. The semiconductor company reported ($2.53) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.75) by ($1.78). JinkoSolar had a negative net margin of 5.85% and a negative return on equity of 9.93%. The business had revenue of $1.82 billion during the quarter, compared to analyst estimates of $2.17 billion. Equities analysts forecast that JinkoSolar Holding Company Limited will post -5.63 EPS for the current fiscal year.
Insiders Place Their Bets
In other JinkoSolar news, Director Wing Siew sold 16,000 shares of the firm’s stock in a transaction on Tuesday, June 30th. The stock was sold at an average price of $16.49, for a total transaction of $263,840.00. Following the completion of the sale, the director owned 170,000 shares of the company’s stock, valued at $2,803,300. This trade represents a 8.60% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Company insiders own 19.80% of the company’s stock.
Hedge Funds Weigh In On JinkoSolar
Several large investors have recently modified their holdings of JKS. Engineers Gate Manager LP bought a new position in shares of JinkoSolar in the second quarter valued at about $298,000. Renaissance Technologies LLC boosted its holdings in shares of JinkoSolar by 96.2% during the 1st quarter. Renaissance Technologies LLC now owns 82,200 shares of the semiconductor company’s stock worth $2,089,000 after buying an additional 40,300 shares during the period. Cetera Investment Advisers acquired a new position in JinkoSolar in the 1st quarter valued at about $307,000. Himension Capital Singapore PTE. LTD. grew its stake in JinkoSolar by 5.1% in the 1st quarter. Himension Capital Singapore PTE. LTD. now owns 82,319 shares of the semiconductor company’s stock valued at $2,092,000 after buying an additional 3,961 shares during the last quarter. Finally, Dimensional Fund Advisors LP raised its holdings in JinkoSolar by 0.4% in the 1st quarter. Dimensional Fund Advisors LP now owns 845,017 shares of the semiconductor company’s stock valued at $21,449,000 after acquiring an additional 3,118 shares during the period. 35.82% of the stock is owned by institutional investors.
JinkoSolar Company Profile
JinkoSolar Holding Co, Ltd. is a global solar photovoltaic (PV) product manufacturer. Through its principal operating subsidiary, Jiangxi Jinko, the company develops and produces silicon wafers, solar cells, and PV modules used in utility-scale, commercial, industrial, and residential solar power systems. Its product portfolio includes high-efficiency monocrystalline modules marketed under the Tiger and Tiger Neo product families.
JinkoSolar also provides energy storage products and related system solutions, supporting the integration of renewable power into electricity networks and on-site energy systems.
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