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JinkoSolar (JKS) Falls Further As It's Water-Logged And Getting Wetter

Editor's Note: Any reference to TheStreet Ratings and its underlying recommendation does not reflect the opinion of TheStreet, Inc. or any of its contributors including Jim Cramer or Stephanie Link.

Trade-Ideas LLC identified JinkoSolar (JKS) as a "water-logged and getting wetter" (weak stocks crossing below support with today's range greater than 200%) candidate. In addition to specific proprietary factors, Trade-Ideas identified JinkoSolar as such a stock due to the following factors:

  • JKS has an average dollar-volume (as measured by average daily share volume multiplied by share price) of $34.0 million.
  • JKS has traded 922,322 shares today.
  • JKS traded in a range 226.7% of the normal price range with a price range of $4.40.
  • JKS traded below its daily resistance level (quality: 32 days, meaning that the stock is crossing a resistance level set by the last 32 calendar days. The resistance price is defined by the Price - $0.01 at the time of the signal).

Stocks matching the 'Water-Logged and Getting Wetter' criteria are worthwhile stocks to watch for a variety of factors including historical back testing and volatility. Trade-Ideas targets these opportunities because the stock is exhibiting an unusual behavior while displaying negative price action. In this case, the stock crossed an important inflection point; namely, "support" while at the same time the range of the stock's movement in price is twice its normal size. This large range foreshadows a possible continuation as the stock moves lower.

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More details on JKS:

JinkoSolar Holding Co., Ltd., together with its subsidiaries, engages in designing, developing, producing, and marketing photovoltaic products in the People's Republic of China and internationally. Currently there is 1 analyst that rates JinkoSolar a buy, no analysts rate it a sell, and 1 rates it a hold.

The average volume for JinkoSolar has been 1.1 million shares per day over the past 30 days. JinkoSolar has a market cap of $410.0 million and is part of the industrial goods sector and industrial industry. Shares are up 202.4% year to date as of the close of trading on Friday.

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TheStreetRatings.com Analysis:

TheStreet Quant Ratings rates JinkoSolar as a sell. The company's weaknesses can be seen in multiple areas, such as its generally high debt management risk, disappointing return on equity and poor profit margins.

Highlights from the ratings report include:

  • The debt-to-equity ratio is very high at 4.49 and currently higher than the industry average, implying increased risk associated with the management of debt levels within the company. To add to this, JKS has a quick ratio of 0.55, this demonstrates the lack of ability of the company to cover short-term liquidity needs.
  • Return on equity has greatly decreased when compared to its ROE from the same quarter one year prior. This is a signal of major weakness within the corporation. Compared to other companies in the Semiconductors & Semiconductor Equipment industry and the overall market, JINKOSOLAR HOLDING CO's return on equity significantly trails that of both the industry average and the S&P 500.
  • The gross profit margin for JINKOSOLAR HOLDING CO is rather low; currently it is at 17.62%. Regardless of JKS's low profit margin, it has managed to increase from the same period last year. Despite the mixed results of the gross profit margin, JKS's net profit margin of 2.66% is significantly lower than the industry average.
  • JINKOSOLAR HOLDING CO reported significant earnings per share improvement in the most recent quarter compared to the same quarter a year ago. This company has reported somewhat volatile earnings recently. But, we feel it is poised for EPS growth in the coming year. During the past fiscal year, JINKOSOLAR HOLDING CO swung to a loss, reporting -$11.15 versus $1.39 in the prior year. This year, the market expects an improvement in earnings ($0.23 versus -$11.15).
  • The net income growth from the same quarter one year ago has significantly exceeded that of the S&P 500 and the Semiconductors & Semiconductor Equipment industry. The net income increased by 116.0% when compared to the same quarter one year prior, rising from -$48.38 million to $7.73 million.

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