JinkoSolar (NYSE:JKS) Stock Price Down 3.6% - Here's What Happened

JinkoSolar Holding Co., Ltd. (NYSE:JKS - Get Free Report) shares fell 3.6% on Monday . The company traded as low as $21.90 and last traded at $21.75. 127,252 shares changed hands during mid-day trading, a decline of 87% from the average session volume of 1,010,633 shares. The stock had previously closed at $22.57.

Analyst Upgrades and Downgrades

A number of analysts have commented on JKS shares. The Goldman Sachs Group reduced their price objective on shares of JinkoSolar from $20.00 to $18.00 and set a "sell" rating for the company in a research note on Thursday. UBS Group reduced their price target on shares of JinkoSolar from $25.00 to $22.00 and set a "neutral" rating for the company in a research report on Thursday. Jefferies Financial Group lifted their price objective on shares of JinkoSolar from $36.00 to $65.00 and gave the stock a "buy" rating in a research report on Thursday, December 5th. Daiwa Capital Markets lowered JinkoSolar from an "underperform" rating to a "sell" rating in a report on Friday, January 10th. Finally, Glj Research lowered their price target on JinkoSolar from $13.08 to $10.95 and set a "sell" rating on the stock in a report on Thursday, January 23rd. Three research analysts have rated the stock with a sell rating, three have issued a hold rating and one has given a buy rating to the company. Based on data from MarketBeat.com, the company has an average rating of "Hold" and an average target price of $27.19.

JinkoSolar Price Performance

The company has a quick ratio of 0.97, a current ratio of 1.22 and a debt-to-equity ratio of 0.81. The stock's 50 day moving average price is $21.78 and its two-hundred day moving average price is $23.13. The firm has a market capitalization of $1.04 billion, a price-to-earnings ratio of 33.10 and a beta of 0.40.

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JinkoSolar (NYSE:JKS - Get Free Report) last posted its quarterly earnings results on Wednesday, March 26th. The semiconductor company reported ($1.01) earnings per share for the quarter, missing analysts' consensus estimates of ($0.46) by ($0.55). The firm had revenue of $20.65 billion for the quarter, compared to analysts' expectations of $3.38 billion. JinkoSolar had a return on equity of 4.18% and a net margin of 0.53%. The firm's revenue for the quarter was down 37.1% on a year-over-year basis. During the same period last year, the business earned $0.54 earnings per share. Analysts anticipate that JinkoSolar Holding Co., Ltd. will post -0.24 EPS for the current fiscal year.

Institutional Investors Weigh In On JinkoSolar

A number of large investors have recently bought and sold shares of the business. Daiwa Securities Group Inc. raised its position in shares of JinkoSolar by 15.8% during the third quarter. Daiwa Securities Group Inc. now owns 8,800 shares of the semiconductor company's stock worth $236,000 after acquiring an additional 1,200 shares during the last quarter. Verition Fund Management LLC bought a new stake in JinkoSolar during the 3rd quarter worth about $682,000. State Street Corp lifted its position in JinkoSolar by 10.7% during the 3rd quarter. State Street Corp now owns 696,763 shares of the semiconductor company's stock valued at $18,687,000 after purchasing an additional 67,223 shares during the period. Public Employees Retirement System of Ohio bought a new position in shares of JinkoSolar in the 3rd quarter valued at about $928,000. Finally, Barclays PLC grew its position in shares of JinkoSolar by 30.2% during the 3rd quarter. Barclays PLC now owns 2,318 shares of the semiconductor company's stock worth $62,000 after buying an additional 537 shares during the period. 35.82% of the stock is currently owned by institutional investors.

JinkoSolar Company Profile

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.