JinkoSolar (NYSE:JKS) Cut to Sell at Wall Street Zen

Wall Street Zen downgraded shares of JinkoSolar (NYSE:JKS) from a hold rating to a sell rating in a research note released on Saturday,Wall Street Zen reports.

A number of other brokerages have also recently commented on JKS. The Goldman Sachs Group set a $11.00 price objective on JinkoSolar in a research note on Thursday. UBS Group increased their target price on JinkoSolar from $23.00 to $24.00 and gave the company a “neutral” rating in a research note on Friday, May 29th. Weiss Ratings reiterated a “sell (d)” rating on shares of JinkoSolar in a report on Monday, August 3rd. Finally, Roth Capital reduced their price target on JinkoSolar from $25.00 to $16.00 and set a “neutral” rating on the stock in a research report on Thursday. One investment analyst has rated the stock with a Strong Buy rating, one has assigned a Buy rating, four have issued a Hold rating and two have assigned a Sell rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and an average price target of $19.88.

JinkoSolar Price Performance

JinkoSolar stock opened at $12.62 on Friday. JinkoSolar has a 52-week low of $12.56 and a 52-week high of $31.88. The firm has a fifty day moving average of $15.85 and a 200-day moving average of $20.85. The firm has a market capitalization of $660.91 million, a P/E ratio of -1.35 and a beta of 0.52. The company has a quick ratio of 0.95, a current ratio of 1.26 and a debt-to-equity ratio of 1.16.

JinkoSolar (NYSE:JKS) last announced its quarterly earnings results on Wednesday, August 26th. The semiconductor company reported ($2.53) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.75) by ($1.78). JinkoSolar had a negative return on equity of 9.93% and a negative net margin of 5.85%.The business had revenue of $1.82 billion for the quarter, compared to analysts’ expectations of $2.17 billion. As a group, analysts predict that JinkoSolar will post -2.76 EPS for the current year.

JinkoSolar Dividend Announcement

The company also recently disclosed an annual dividend, which was paid on Thursday, July 9th. Shareholders of record on Monday, June 22nd were issued a $1.50 dividend. The ex-dividend date was Monday, June 22nd. This represents a yield of 837.0%. JinkoSolar’s payout ratio is currently -15.86%.

Insiders Place Their Bets

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

Institutional Trading of JinkoSolar

A number of hedge funds and other institutional investors have recently modified their holdings of the business. Raymond James Financial Inc. acquired a new position in shares of JinkoSolar in the second quarter worth about $47,000. Banque Cantonale Vaudoise acquired a new stake in JinkoSolar during the 4th quarter valued at approximately $58,000. Leonteq Securities AG acquired a new stake in JinkoSolar during the 4th quarter valued at approximately $101,000. Federation des caisses Desjardins du Quebec increased 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 purchasing an additional 5,211 shares during the last quarter. Finally, Janney Montgomery Scott LLC purchased a new stake in JinkoSolar during the 4th quarter worth approximately $209,000. 35.82% of the stock is owned by hedge funds and other institutional investors.

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.