JinkoSolar (NYSE:JKS) Trading Up 3.6% – Time to Buy?

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

Wall Street Analyst Weigh In

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

JinkoSolar Price Performance

The business has a 50 day moving average price of $20.91 and a 200-day moving average price of $22.54. The company has a market capitalization of $1.14 billion, a price-to-earnings ratio of 3.34 and a beta of 0.43. The company has a debt-to-equity ratio of 0.76, a quick ratio of 0.79 and a current ratio of 1.08.

JinkoSolar (NYSE:JKS) last posted its quarterly earnings results on Friday, August 30th. The semiconductor company reported $0.97 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates 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 return on equity of 7.86% and a net margin of 1.65%. Research analysts predict that JinkoSolar Holding Co., Ltd. will post -0.42 EPS for the current fiscal year.

JinkoSolar Announces Dividend

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

Institutional Investors Weigh In On JinkoSolar

Several hedge funds and other institutional investors have recently modified their holdings of the company. Mirae Asset Global Investments Co. Ltd. increased its position in shares of 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 acquiring an additional 12,464 shares in the last quarter. Capstone Investment Advisors LLC raised its stake in shares of JinkoSolar by 81.6% in the first quarter. Capstone Investment Advisors LLC now owns 29,625 shares of the semiconductor company’s stock worth $746,000 after purchasing an additional 13,314 shares during the last quarter. Daiwa Securities Group Inc. lifted its holdings in shares of 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 purchasing an additional 4,100 shares in the last quarter. GSA Capital Partners LLP boosted its position in shares of JinkoSolar by 372.9% during 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. Finally, Banco BTG Pactual S.A. bought a new stake in JinkoSolar during the first quarter worth $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.