JinkoSolar (NYSE:JKS) Upgraded at Wall Street Zen

Wall Street Zen upgraded shares of JinkoSolar (NYSE:JKS) from a sell rating to a hold rating in a research note issued to investors on Sunday.

JinkoSolar Stock Down 1.5%

Shares of NYSE:JKS opened at $24.52 on Friday. JinkoSolar has a 52 week low of $13.42 and a 52 week high of $37.36. The company has a debt-to-equity ratio of 1.11, a quick ratio of 1.07 and a current ratio of 1.33. The company’s fifty day moving average is $23.26 and its 200-day moving average is $20.61. The company has a market capitalization of $1.27 billion, a PE ratio of -4.88 and a beta of 0.13.

JinkoSolar Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, July 16th. Investors of record on Wednesday, July 2nd were given a dividend of $0.325 per share. The ex-dividend date was Wednesday, July 2nd. This represents a $1.30 annualized dividend and a yield of 5.3%. JinkoSolar’s dividend payout ratio is -25.50%.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Raymond James Financial Inc. acquired a new position in JinkoSolar during the 2nd quarter worth about $47,000. XTX Topco Ltd acquired a new position in JinkoSolar during the 2nd quarter valued at about $1,160,000. JPMorgan Chase & Co. lifted its position in JinkoSolar by 7,759.6% during the 2nd quarter. JPMorgan Chase & Co. now owns 11,082 shares of the semiconductor company’s stock valued at $235,000 after purchasing an additional 10,941 shares during the period. MTM Investment Management LLC acquired a new position in JinkoSolar during the 2nd quarter valued at about $28,000. Finally, Geode Capital Management LLC lifted its position in JinkoSolar by 9.9% during the 2nd quarter. Geode Capital Management LLC now owns 37,671 shares of the semiconductor company’s stock valued at $799,000 after purchasing an additional 3,394 shares during the period. Institutional investors and hedge funds 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.