JinkoSolar (NYSE:JKS) Stock Falls 6.2% – Time to Sell?

JinkoSolar Holding Company Limited (NYSE:JKS – Get Free Report)’s stock price dropped 6.2% during trading on Monday. The company traded as low as $10.25 and last traded at $10.2950. Approximately 190,509 shares changed hands during trading, a decline of 74% from the average session volume of 737,405 shares. The stock had previously closed at $10.97.

Analyst Upgrades and Downgrades

JKS has been the subject of a number of recent analyst reports. Roth Capital dropped their price objective on JinkoSolar from $16.00 to $10.00 and set a “neutral” rating for the company in a research note on Monday, November 2nd. Wall Street Zen upgraded JinkoSolar from a “strong sell” rating to a “hold” rating in a research report on Saturday. Glj Research decreased their target price on JinkoSolar from $12.08 to $5.27 and set a “sell” rating on the stock in a research note on Tuesday. The Goldman Sachs Group set a $11.00 price target on JinkoSolar in a report on Thursday, August 27th. Finally, UBS Group upgraded JinkoSolar from a “neutral” rating to a “buy” rating and dropped their price target for the stock from $24.00 to $17.00 in a research note on Friday, November 6th. One investment analyst has rated the stock with a Strong Buy rating, three have given a Buy rating, two have issued a Hold rating and three have given a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus target price of $14.35.

Check Out Our Latest Report on JKS

JinkoSolar Stock Down 6.4%

The firm has a market capitalization of $536.35 million, a PE ratio of -1.29 and a beta of 0.39. The business’s 50 day simple moving average is $9.78 and its 200 day simple moving average is $18.47. The company has a current ratio of 1.13, a quick ratio of 0.84 and a debt-to-equity ratio of 1.10.

JinkoSolar (NYSE:JKS – Get Free Report) last posted its earnings results on Friday, October 30th. The semiconductor company reported ($0.03) earnings per share for the quarter, topping analysts’ consensus estimates of ($2.11) by $2.08. The firm had revenue of $2.03 billion for the quarter, compared to the consensus estimate of $2.42 billion. JinkoSolar had a negative net margin of 5.04% and a negative return on equity of 8.83%. On average, equities research analysts forecast that JinkoSolar Holding Company Limited will post -4.95 earnings per share for the current year.

Institutional Investors Weigh In On JinkoSolar

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Aberdeen Group plc bought a new position in shares of JinkoSolar during the 3rd quarter valued at approximately $275,000. Engineers Gate Manager LP bought a new stake in JinkoSolar in the second quarter worth $298,000. Renaissance Technologies LLC lifted its position in JinkoSolar by 96.2% in the first 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 last quarter. Cetera Investment Advisers bought a new stake in JinkoSolar in the first quarter worth $307,000. Finally, Himension Capital Singapore PTE. LTD. boosted its stake in JinkoSolar by 5.1% during the first quarter. Himension Capital Singapore PTE. LTD. now owns 82,319 shares of the semiconductor company’s stock worth $2,092,000 after buying an additional 3,961 shares during the period. 35.82% of the stock is currently owned by hedge funds and other institutional investors.

About JinkoSolar

(Get Free Report)

JinkoSolar Holding Co., Ltd. is a solar technology company that manufactures and sells photovoltaic products. Its offerings include solar modules, cells, wafers and silicon ingots, serving customers involved in utility-scale, commercial and residential solar projects. The company operates a vertically integrated manufacturing business, covering several stages of the solar supply chain. Its product portfolio includes high-efficiency modules designed for use in a range of installation types. Founded in 2006 and headquartered in China, JinkoSolar serves markets around the world through international sales and manufacturing operations.

Further Reading

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