JinkoSolar (NYSE:JKS) Trading Down 5.1% – What’s Next?

JinkoSolar Holding Co., Ltd. (NYSE:JKS) was down 5.1% on Tuesday . The company traded as low as $21.90 and last traded at $21.93. Approximately 494,266 shares were traded during trading, a decline of 48% from the average daily volume of 955,670 shares. The stock had previously closed at $23.12.

Analyst Upgrades and Downgrades

Several equities analysts have issued reports on the company. Roth Mkm cut their target price on JinkoSolar from $25.00 to $20.00 and set a “neutral” rating on the stock in a research note on Wednesday, September 4th. The Goldman Sachs Group cut their price target on shares of JinkoSolar from $21.00 to $18.00 and set a “sell” rating on the stock in a report on Tuesday, September 3rd. Finally, StockNews.com raised JinkoSolar from a “sell” rating to a “hold” rating in a research report on Wednesday, September 18th. One investment analyst has rated the stock with a sell rating and six have assigned a hold rating to the company’s stock. Based on data from MarketBeat.com, JinkoSolar has a consensus rating of “Hold” and an average price target of $24.60.

JinkoSolar Stock Down 5.1 %

The company has a debt-to-equity ratio of 0.76, a current ratio of 1.08 and a quick ratio of 0.79. The business’s fifty day moving average price is $20.86 and its two-hundred day moving average price is $22.64. The stock has a market capitalization of $1.06 billion, a PE ratio of 3.10 and a beta of 0.43.

JinkoSolar (NYSE:JKS) last posted its quarterly earnings results on Friday, August 30th. The semiconductor company reported $0.97 earnings per share for the quarter, beating the consensus estimate of $0.05 by $0.92. JinkoSolar had a return on equity of 7.86% and a net margin of 1.65%. The business had revenue of $3.31 billion for the quarter, compared to the consensus estimate of $3.85 billion. On average, equities research analysts forecast that JinkoSolar Holding Co., Ltd. will post -0.42 EPS for the current fiscal year.

JinkoSolar Dividend Announcement

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

Institutional Inflows and Outflows

Several institutional investors have recently made changes to their positions in JKS. Headlands Technologies LLC increased its holdings in shares of JinkoSolar by 607.7% during the 2nd quarter. Headlands Technologies LLC now owns 4,048 shares of the semiconductor company’s stock valued at $84,000 after purchasing an additional 3,476 shares in the last quarter. Daiwa Securities Group Inc. increased its holdings in JinkoSolar by 117.1% in the first quarter. Daiwa Securities Group Inc. now owns 7,600 shares of the semiconductor company’s stock valued at $191,000 after buying an additional 4,100 shares in the last quarter. Banco BTG Pactual S.A. acquired a new position in shares of JinkoSolar in the first quarter worth about $207,000. Harel Insurance Investments & Financial Services Ltd. boosted its stake in shares of JinkoSolar by 43.3% during the 2nd quarter. Harel Insurance Investments & Financial Services Ltd. now owns 11,659 shares of the semiconductor company’s stock worth $242,000 after acquiring an additional 3,521 shares in the last quarter. Finally, Profund Advisors LLC grew its position in shares of JinkoSolar by 8.5% during the 2nd quarter. Profund Advisors LLC now owns 12,217 shares of the semiconductor company’s stock valued at $253,000 after acquiring an additional 960 shares during the period. Hedge funds and other institutional investors own 35.82% of the company’s stock.

About JinkoSolar

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.