Key Points
- Director Wing Keong Siew sold 16,000 JinkoSolar shares on June 30 at an average price of $16.49, totaling about $263,840. After the sale, he still held 170,000 shares, reducing his stake by 8.6%.
- The sale followed an earlier insider sale by Siew in mid-May, when he sold another 16,000 shares at a much higher average price of $26.11.
- JinkoSolar remains under pressure operationally: the stock was trading near its 52-week low, the company recently reported a quarterly loss but beat EPS expectations, and analysts currently have a consensus Hold rating with a $24.38 average price target.
JinkoSolar Holding Company Limited (NYSE:JKS - Get Free Report) Director Wing Keong Siew sold 16,000 shares of JinkoSolar stock in a transaction on 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 owned 170,000 shares of the company's stock, valued at approximately $2,803,300. This trade represents a 8.60% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through 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 value of $417,760.00.
JinkoSolar Stock Performance
Shares of JKS opened at $15.88 on Friday. The stock's 50-day simple moving average is $21.18 and its 200 day simple moving average is $24.32. The stock has a market capitalization of $831.64 million, a price-to-earnings ratio of -1.63 and a beta of 0.51. The company has a debt-to-equity ratio of 1.16, a quick ratio of 0.95 and a current ratio of 1.26. JinkoSolar Holding Company Limited has a 52-week low of $15.33 and a 52-week high of $31.88.
JinkoSolar (NYSE:JKS - Get Free Report) last posted its earnings results on Wednesday, April 29th. The semiconductor company reported ($1.52) earnings per share for the quarter, beating analysts' consensus estimates 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 return on equity of 9.52% and a negative net margin of 5.62%. Research analysts forecast that JinkoSolar Holding Company Limited will post -2.76 EPS for the current fiscal year.
JinkoSolar Dividend Announcement
The company also recently disclosed an annual dividend, which will be paid on Thursday, July 9th. Stockholders of record on Monday, June 22nd will be given a $1.50 dividend. This represents a dividend yield of 837.0%. The ex-dividend date is Monday, June 22nd. JinkoSolar's dividend payout ratio (DPR) is -15.20%.
Institutional Inflows and Outflows
Institutional investors have recently modified their holdings of the stock. Raymond James Financial Inc. bought a new stake in JinkoSolar during the second quarter valued at approximately $47,000. Banque Cantonale Vaudoise bought a new position in shares of JinkoSolar in the 4th quarter worth $58,000. Leonteq Securities AG bought a new position in shares of JinkoSolar in the 4th quarter worth $101,000. Federation des caisses Desjardins du Quebec raised its position in shares of 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 valued at $183,000 after buying an additional 5,211 shares in the last quarter. Finally, Cornerstone Investment Partners LLC purchased a new stake in shares of JinkoSolar during the 4th quarter valued at $205,000. 35.82% of the stock is currently owned by institutional investors.
Analyst Upgrades and Downgrades
A number of research firms recently weighed in on JKS. Freedom Capital raised shares of JinkoSolar from a "hold" rating to a "strong-buy" rating in a report on Friday, April 17th. UBS Group raised their price target on shares of JinkoSolar from $23.00 to $24.00 and gave the company a "neutral" rating in a report on Friday, May 29th. Wall Street Zen upgraded shares of JinkoSolar from a "sell" rating to a "hold" rating in a research report on Saturday, May 2nd. Weiss Ratings cut shares of JinkoSolar from a "hold (c-)" rating to a "sell (d)" rating in a report on Wednesday, May 6th. Finally, Daiwa Securities Group raised JinkoSolar from a "sell" rating to a "buy" rating and set a $28.50 price objective for the company in a research note on Tuesday, March 24th. One investment analyst has rated the stock with a Strong Buy rating, one has assigned a Buy rating, three have assigned a Hold rating and two have assigned a Sell rating to the company's stock. According to MarketBeat, the company currently has a consensus rating of "Hold" and an average price target of $24.38.
Get Our Latest Stock Report on JKS
About JinkoSolar
(
Get Free Report)
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.
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