Insider Selling: JinkoSolar (NYSE:JKS) Director Sells $263,840.00 in Stock

JinkoSolar Holding Company Limited (NYSE:JKS) 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 transaction of $263,840.00. Following the completion of the sale, the director directly owned 170,000 shares of the company’s stock, valued at approximately $2,803,300. This represents a 8.60% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this link.

Wing Keong Siew also recently made the following trade(s):

• On Wednesday, May 13th, Wing Keong Siew sold 16,000 shares of JinkoSolar stock. The shares were sold at an average price of $26.11, for a total transaction of $417,760.00.

JinkoSolar Price Performance

Shares of NYSE JKS opened at $16.17 on Thursday. JinkoSolar Holding Company Limited has a 1 year low of $15.33 and a 1 year high of $31.88. The stock has a market capitalization of $846.61 million, a P/E ratio of -1.66 and a beta of 0.51. The company’s 50-day moving average is $21.27 and its 200 day moving average is $24.39. The company has a debt-to-equity ratio of 1.16, a current ratio of 1.26 and a quick ratio of 0.95.

JinkoSolar (NYSE:JKS) last issued its quarterly earnings data on Wednesday, April 29th. The semiconductor company reported ($1.52) EPS for the quarter, topping the consensus estimate of ($1.84) by $0.32. The business had revenue of $1.78 billion during the quarter, compared to analyst estimates of $2.09 billion. JinkoSolar had a negative net margin of 5.62% and a negative return on equity of 9.52%. On average, sell-side analysts expect that JinkoSolar Holding Company Limited will post -2.76 earnings per share for the current year.

JinkoSolar Announces Dividend

The business also recently disclosed an annual dividend, which will be paid on Thursday, July 9th. Stockholders of record on Monday, June 22nd will be issued a dividend of $1.50 per share. This represents a dividend yield of 837.0%. The ex-dividend date of this dividend is Monday, June 22nd. JinkoSolar’s payout ratio is presently -15.20%.

Hedge Funds Weigh In On JinkoSolar

A number of hedge funds have recently made changes to their positions in the business. Raymond James Financial Inc. purchased a new stake in shares of JinkoSolar during the second quarter worth about $47,000. Banque Cantonale Vaudoise purchased a new position in JinkoSolar in the 4th quarter worth approximately $58,000. Leonteq Securities AG purchased a new position in JinkoSolar in the 4th quarter worth approximately $101,000. Federation des caisses Desjardins du Quebec boosted its stake in JinkoSolar by 277.9% in 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 period. Finally, Cornerstone Investment Partners LLC bought a new position in JinkoSolar in the 4th quarter worth approximately $205,000. Institutional investors own 35.82% of the company’s stock.

Wall Street Analyst Weigh In

A number of research firms recently commented on JKS. Freedom Capital upgraded JinkoSolar from a “hold” rating to a “strong-buy” rating in a research report on Friday, April 17th. Weiss Ratings cut JinkoSolar from a “hold (c-)” rating to a “sell (d)” rating in a research report on Wednesday, May 6th. UBS Group boosted their price target on 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 research note on Saturday, May 2nd. Finally, Daiwa Securities Group raised shares of JinkoSolar from a “sell” rating to a “buy” rating and set a $28.50 price objective on the stock in a report on Tuesday, March 24th. One analyst has rated the stock with a Strong Buy rating, one has issued a Buy rating, three have given a Hold rating and two have issued a Sell rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average price target of $24.38.

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.