JinkoSolar (NYSE:JKS) Trading Up 3.6% – Here’s What Happened

JinkoSolar Holding Co., Ltd. (NYSE:JKS) shares shot up 3.6% on Tuesday . The company traded as high as $21.43 and last traded at $21.16. 403,879 shares were traded during trading, a decline of 59% from the average session volume of 975,650 shares. The stock had previously closed at $20.42.

Analyst Ratings Changes

Several research analysts recently weighed in on JKS shares. 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. StockNews.com raised JinkoSolar from a “sell” rating to a “hold” rating in a research report on Wednesday, September 18th. Finally, Roth Mkm lowered 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. One equities research analyst has rated the stock with a sell rating and six have issued a hold rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and an average price target of $24.60.

JinkoSolar Trading Up 4.7 %

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 company has a market cap of $1.14 billion, a PE ratio of 3.34 and a beta of 0.43. The firm’s 50 day moving average is $20.91 and its 200 day moving average is $22.54.

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

JinkoSolar Dividend Announcement

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

Institutional Inflows and Outflows

A number of institutional investors have recently added to or reduced their stakes in JKS. Mirae Asset Global Investments Co. Ltd. lifted its stake in JinkoSolar by 31.9% during the first quarter. Mirae Asset Global Investments Co. Ltd. now owns 51,588 shares of the semiconductor company’s stock worth $1,300,000 after purchasing an additional 12,464 shares during the last quarter. Capstone Investment Advisors LLC boosted its holdings in JinkoSolar by 81.6% during the 1st quarter. Capstone Investment Advisors LLC now owns 29,625 shares of the semiconductor company’s stock valued at $746,000 after acquiring an additional 13,314 shares during the period. Daiwa Securities Group Inc. grew its position in JinkoSolar by 117.1% during the 1st quarter. Daiwa Securities Group Inc. now owns 7,600 shares of the semiconductor company’s stock worth $191,000 after acquiring an additional 4,100 shares during the last quarter. GSA Capital Partners LLP increased its stake in JinkoSolar by 372.9% in the 1st quarter. GSA Capital Partners LLP now owns 77,349 shares of the semiconductor company’s stock worth $1,948,000 after purchasing an additional 60,992 shares during the period. Finally, Banco BTG Pactual S.A. bought a new stake in JinkoSolar in the first quarter valued at approximately $207,000. Institutional investors 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.