JinkoSolar (NYSE:JKS) Trading Down 7.7% - Here's Why

Shares of JinkoSolar Holding Co., Ltd. (NYSE:JKS - Get Free Report) fell 7.7% during mid-day trading on Monday . The company traded as low as $18.22 and last traded at $18.08. 234,198 shares were traded during mid-day trading, a decline of 77% from the average session volume of 1,036,703 shares. The stock had previously closed at $19.59.

Analysts Set New Price Targets

A number of research firms have recently weighed in on JKS. Daiwa Capital Markets downgraded shares of JinkoSolar from an "underperform" rating to a "sell" rating in a research note on Friday, January 10th. UBS Group cut their price target on JinkoSolar from $25.00 to $22.00 and set a "neutral" rating for the company in a research note on Thursday, March 27th. Jefferies Financial Group boosted their price target on JinkoSolar from $36.00 to $65.00 and gave the company a "buy" rating in a research note on Thursday, December 5th. Glj Research dropped their price objective on JinkoSolar from $13.08 to $10.95 and set a "sell" rating on the stock in a report on Thursday, January 23rd. Finally, The Goldman Sachs Group reduced their target price on shares of JinkoSolar from $20.00 to $18.00 and set a "sell" rating for the company in a research note on Thursday, March 27th. Three equities research analysts have rated the stock with a sell rating, three have assigned a hold rating and one has given a buy rating to the company's stock. Based on data from MarketBeat, the company has an average rating of "Hold" and an average target price of $27.19.

JinkoSolar Price Performance

The company has a market capitalization of $834.00 million, a P/E ratio of 26.59 and a beta of 0.17. The stock's fifty day simple moving average is $21.57 and its 200-day simple moving average is $23.12. The company has a debt-to-equity ratio of 0.81, a current ratio of 1.22 and a quick ratio of 0.97.

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

Hedge Funds Weigh In On JinkoSolar

Institutional investors and hedge funds have recently bought and sold shares of the stock. SG Americas Securities LLC acquired a new stake in JinkoSolar in the 4th quarter worth $1,435,000. State Street Corp raised its holdings in JinkoSolar by 10.7% in the 3rd quarter. State Street Corp now owns 696,763 shares of the semiconductor company's stock valued at $18,687,000 after acquiring an additional 67,223 shares in the last quarter. Bank of New York Mellon Corp lifted its position in shares of JinkoSolar by 245.8% in the 4th quarter. Bank of New York Mellon Corp now owns 41,445 shares of the semiconductor company's stock worth $1,032,000 after acquiring an additional 29,459 shares during the period. Capital Wealth Planning LLC acquired a new stake in shares of JinkoSolar during the 4th quarter worth approximately $752,000. Finally, Verition Fund Management LLC bought a new stake in shares of JinkoSolar during the third quarter valued at approximately $682,000. Institutional investors own 35.82% of the company's stock.

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.