Brokerages Set JinkoSolar Holding Co., Ltd. (NYSE:JKS) PT at $24.60

JinkoSolar Holding Co., Ltd. (NYSE:JKS) has been given a consensus recommendation of “Reduce” by the six analysts that are currently covering the stock, Marketbeat.com reports. One research analyst has rated the stock with a sell rating and five have assigned a hold rating to the company. The average 1 year price objective among brokerages that have issued a report on the stock in the last year is $24.60.

JKS has been the topic of several analyst reports. StockNews.com upgraded shares of JinkoSolar from a “sell” rating to a “hold” rating in a research report on Wednesday. The Goldman Sachs Group reduced their price target on shares of JinkoSolar from $21.00 to $18.00 and set a “sell” rating on the stock in a research report on Tuesday, September 3rd. Finally, Roth Mkm reduced their price target on shares of JinkoSolar from $25.00 to $20.00 and set a “neutral” rating on the stock in a research report on Wednesday, September 4th.

JinkoSolar Stock Up 1.2 %

Shares of JKS opened at $20.37 on Thursday. JinkoSolar has a 12 month low of $16.70 and a 12 month high of $38.65. The firm’s 50 day moving average is $19.76 and its 200-day moving average is $22.96. The stock has a market capitalization of $1.08 billion, a PE ratio of 3.19 and a beta of 0.40. The company has a current ratio of 1.08, a quick ratio of 0.79 and a debt-to-equity ratio of 0.76.

JinkoSolar Dividend Announcement

The business also recently announced a Variable dividend, which was paid on Friday, August 30th. Shareholders of record on Thursday, August 15th were given a $1.50 dividend. The ex-dividend date was Thursday, August 15th. This represents a yield of 15.6%. JinkoSolar’s dividend payout ratio is currently 46.18%.

Institutional Trading of JinkoSolar

A number of hedge funds have recently added to or reduced their stakes in the stock. Mackenzie Financial Corp lifted its holdings in shares of JinkoSolar by 1.8% during the second quarter. Mackenzie Financial Corp now owns 2,572,177 shares of the semiconductor company’s stock worth $53,296,000 after purchasing an additional 44,661 shares during the period. Millennium Management LLC lifted its holdings in shares of JinkoSolar by 2,305.1% during the second quarter. Millennium Management LLC now owns 168,911 shares of the semiconductor company’s stock worth $3,500,000 after purchasing an additional 161,888 shares during the period. Decade Renewable Partners LP acquired a new position in shares of JinkoSolar during the second quarter worth $4,272,000. Point72 Europe London LLP acquired a new position in shares of JinkoSolar during the second quarter worth $3,023,000. Finally, Marshall Wace LLP lifted its holdings in shares of JinkoSolar by 49.5% during the second quarter. Marshall Wace LLP now owns 447,709 shares of the semiconductor company’s stock worth $9,277,000 after purchasing an additional 148,268 shares during the period. Institutional investors and hedge funds 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.