JinkoSolar (NYSE:JKS) Stock Price Up 9.2%

JinkoSolar Holding Co., Ltd. (NYSE:JKS) rose 9.2% during trading on Monday . The stock traded as high as $25.48 and last traded at $25.34. Approximately 310,847 shares traded hands during mid-day trading, a decline of 63% from the average daily volume of 830,840 shares. The stock had previously closed at $23.21.

Analyst Ratings Changes

JKS has been the topic of several research reports. Roth Mkm cut their price target on shares of JinkoSolar from $25.00 to $20.00 and set a “neutral” rating on the stock in a report 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 shares of JinkoSolar from a “sell” rating to a “hold” rating in a research report on Wednesday, September 18th. One equities research analyst has rated the stock with a sell rating and six have issued a hold rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus target price of $24.60.

JinkoSolar Price Performance

The firm has a market cap of $1.36 billion, a price-to-earnings ratio of 3.99 and a beta of 0.40. The business’s 50-day moving average price is $19.72 and its two-hundred day moving average price is $22.56. The company has a debt-to-equity ratio of 0.76, a current ratio of 1.08 and a quick ratio of 0.79.

JinkoSolar (NYSE:JKS) last released its quarterly earnings data on Friday, August 30th. The semiconductor company reported $0.97 EPS for the quarter, topping analysts’ consensus estimates of $0.05 by $0.92. The firm had revenue of $3.31 billion during the quarter, compared to the consensus estimate of $3.85 billion. JinkoSolar had a net margin of 1.65% and a return on equity of 7.86%. On average, 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 disclosed a Variable dividend, which was paid on Friday, August 30th. Shareholders of record on Thursday, August 15th were issued a $1.50 dividend. 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 Investors Weigh In On JinkoSolar

Hedge funds have recently added to or reduced their stakes in the stock. Mackenzie Financial Corp lifted its stake in JinkoSolar by 1.8% in the second quarter. Mackenzie Financial Corp now owns 2,572,177 shares of the semiconductor company’s stock valued at $53,296,000 after buying an additional 44,661 shares during the last quarter. GSA Capital Partners LLP lifted its stake in JinkoSolar by 372.9% in the first quarter. GSA Capital Partners LLP now owns 77,349 shares of the semiconductor company’s stock valued at $1,948,000 after buying an additional 60,992 shares during the last quarter. Marshall Wace LLP lifted its stake in JinkoSolar by 49.5% in the second quarter. Marshall Wace LLP now owns 447,709 shares of the semiconductor company’s stock valued at $9,277,000 after buying an additional 148,268 shares during the last quarter. SG Americas Securities LLC raised its stake in shares of JinkoSolar by 16.0% during the second quarter. SG Americas Securities LLC now owns 21,321 shares of the semiconductor company’s stock valued at $442,000 after purchasing an additional 2,939 shares in the last quarter. Finally, Decade Renewable Partners LP bought a new stake in shares of JinkoSolar during the second quarter valued at about $4,272,000. 35.82% of the stock is currently owned by institutional investors.

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.