JinkoSolar (NYSE:JKS) Trading Down 4.7% – Should You Sell?

JinkoSolar Holding Company Limited (NYSE:JKS) fell 4.7% during mid-day trading on Tuesday . The company traded as low as $15.41 and last traded at $15.3960. Approximately 218,949 shares changed hands during trading, a decline of 69% from the average daily volume of 700,547 shares. The stock had previously closed at $16.16.

Analysts Set New Price Targets

A number of research analysts have weighed in on the stock. UBS Group lifted their price target on shares of JinkoSolar from $23.00 to $24.00 and gave the company a “neutral” rating in a research note on Friday, May 29th. Wall Street Zen upgraded shares of JinkoSolar from a “sell” rating to a “hold” rating in a report on Saturday, May 2nd. Finally, Weiss Ratings reaffirmed a “sell (d)” rating on shares of JinkoSolar in a research report on Monday, August 3rd. One investment 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 issued a Sell rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average target price of $24.38.

JinkoSolar Trading Down 4.2%

The stock has a market cap of $810.95 million, a price-to-earnings ratio of -1.59 and a beta of 0.52. The business has a 50-day simple moving average of $16.39 and a two-hundred day simple moving average of $21.36. The company has a debt-to-equity ratio of 1.16, a quick ratio of 0.95 and a current ratio of 1.26.

JinkoSolar Dividend Announcement

The firm also recently announced an annual dividend, which was paid on Thursday, July 9th. Investors of record on Monday, June 22nd were issued a dividend of $1.50 per share. The ex-dividend date was Monday, June 22nd. This represents a yield of 837.0%. JinkoSolar’s dividend payout ratio is presently -15.20%.

Insiders Place Their Bets

In other news, Director Wing Keong Siew sold 16,000 shares of the firm’s stock in a transaction dated Tuesday, June 30th. The stock was sold at an average price of $16.49, for a total value of $263,840.00. Following the completion of the transaction, the director owned 170,000 shares in the company, valued at $2,803,300. This trade represents a 8.60% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Company insiders own 19.80% of the company’s stock.

Institutional Investors Weigh In On JinkoSolar

Several hedge funds have recently bought and sold shares of JKS. Raymond James Financial Inc. acquired a new position in JinkoSolar during the second quarter worth approximately $47,000. Banque Cantonale Vaudoise acquired a new stake in shares of JinkoSolar in the fourth quarter valued at approximately $58,000. Leonteq Securities AG bought a new position in shares of JinkoSolar during the 4th quarter worth approximately $101,000. Federation des caisses Desjardins du Quebec boosted its stake in shares of 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 during the period. Finally, Cornerstone Investment Partners LLC acquired a new position in shares of JinkoSolar during the 4th quarter worth approximately $205,000. 35.82% of the stock is currently owned by institutional investors and hedge funds.

About JinkoSolar

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.