Stock Alert: JinkoSolar Holdings Down 8%
Shares of Chinese solar panel manufacturer JinkoSolar Holding Co., Ltd. (JKS) are declining 8 percent on Tuesday despite there being no company announcement to impact the stock.
The company had in April reported net loss of RMB 377 million or $57.8 million for the fourth quarter, compared to net income of RMB 369.5 million in the same period last year. Loss per ADS was RMB 14.40 or $2.21, compared to earnings per ADS of RMB 6.68 a year ago.
Adjusted earnings per ADS were RMB 0.74 or $0.11 compared to RMB 9.74 in the prior year.
Total revenues in the quarter were RMB 9.42 billion or $1.44 billion, down from RMB 9.53 billion last year.
The stock was trading at $33.89, down $3.00 or 8 percent on the NYSE.
JKS has traded between $13.67 and $90.20 in the past 52 weeks.
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