JinkoSolar (NYSE:JKS) Shares Down 6.8% – Should You Sell?

JinkoSolar Holding Co., Ltd. (NYSE:JKS)’s share price dropped 6.8% on Tuesday . The company traded as low as $20.91 and last traded at $21.13. Approximately 341,533 shares were traded during trading, a decline of 68% from the average daily volume of 1,073,451 shares. The stock had previously closed at $22.66.

Wall Street Analyst Weigh In

Several brokerages recently commented on JKS. Roth Mkm dropped their target price on shares of JinkoSolar from $25.00 to $20.00 and set a “neutral” rating on the stock in a report on Wednesday, September 4th. The Goldman Sachs Group reduced their price target on shares of JinkoSolar from $21.00 to $18.00 and set a “sell” rating on the stock in a research report on Tuesday, September 3rd. Finally, StockNews.com upgraded shares of JinkoSolar from a “sell” rating to a “hold” rating in a research report on Wednesday, September 18th. One analyst has rated the stock with a sell rating and six have assigned a hold rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average target price of $24.60.

JinkoSolar Stock Down 5.9 %

The company has a debt-to-equity ratio of 0.81, a quick ratio of 0.97 and a current ratio of 1.22. The company has a market capitalization of $1.13 billion, a P/E ratio of 35.81 and a beta of 0.44. The firm’s fifty day moving average is $22.58 and its 200-day moving average is $22.70.

JinkoSolar (NYSE:JKS) last posted its quarterly earnings data on Friday, August 30th. The semiconductor company reported $0.97 EPS for the quarter, beating analysts’ consensus estimates of $0.05 by $0.92. JinkoSolar had a net margin of 0.53% and a return on equity of 4.18%. The company had revenue of $3.31 billion for the quarter, compared to analyst estimates of $3.85 billion. As a group, equities research analysts predict that JinkoSolar Holding Co., Ltd. will post -0.42 EPS for the current year.

Institutional Trading of JinkoSolar

Several institutional investors and hedge funds have recently made changes to their positions in JKS. Decade Renewable Partners LP bought a new position in JinkoSolar during the second quarter worth about $4,272,000. Millennium Management LLC raised its stake in shares of JinkoSolar by 2,305.1% during the second quarter. Millennium Management LLC now owns 168,911 shares of the semiconductor company’s stock worth $3,500,000 after acquiring an additional 161,888 shares in the last quarter. Marshall Wace LLP grew its holdings in shares of JinkoSolar by 49.5% in the second quarter. Marshall Wace LLP now owns 447,709 shares of the semiconductor company’s stock worth $9,277,000 after purchasing an additional 148,268 shares during the last quarter. Point72 Europe London LLP bought a new stake in JinkoSolar in the second quarter valued at $3,023,000. Finally, Dimensional Fund Advisors LP boosted its holdings in JinkoSolar by 8.2% in the second quarter. Dimensional Fund Advisors LP now owns 981,492 shares of the semiconductor company’s stock valued at $20,357,000 after acquiring an additional 74,219 shares in the last quarter. Hedge funds and other institutional investors own 35.82% of the company’s stock.

About JinkoSolar

JinkoSolar Holding Co, Ltd., together with its subsidiaries, engages in the design, development, production, and marketing of photovoltaic products. The company offers solar modules, silicon wafers, solar cells, recovered silicon materials, and silicon ingots. It also provides solar system integration services; solar power generation and solar system EPC services; and energy storage system, as well as undertakes solar power projects.