JinkoSolar (NYSE:JKS) Shares Gap Down to $26.82

JinkoSolar Holding Co., Ltd. (NYSE:JKS) gapped down before the market opened on Tuesday . The stock had previously closed at $26.82, but opened at $26.20. JinkoSolar shares last traded at $25.51, with a volume of 378,884 shares.

Analysts Set New Price Targets

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

JinkoSolar Stock Performance

The company has a quick ratio of 0.79, a current ratio of 1.08 and a debt-to-equity ratio of 0.76. The stock has a fifty day moving average of $19.63 and a 200-day moving average of $22.57. The stock has a market cap of $1.31 billion, a PE ratio of 3.94 and a beta of 0.40.

JinkoSolar (NYSE:JKS) last released 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. JinkoSolar had a return on equity of 7.86% and a net margin of 1.65%. The firm had revenue of $3.31 billion for the quarter, compared to analyst estimates of $3.85 billion. On average, equities analysts forecast that JinkoSolar Holding Co., Ltd. will post -0.42 EPS for the current year.

JinkoSolar Announces Dividend

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 of this dividend was Thursday, August 15th. JinkoSolar’s dividend payout ratio is presently 46.18%.

Institutional Investors Weigh In On JinkoSolar

A number of institutional investors have recently added to or reduced their stakes in JKS. Headlands Technologies LLC boosted its holdings in JinkoSolar by 607.7% in 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. Barometer Capital Management Inc. acquired a new stake in shares of JinkoSolar during the 4th quarter valued at approximately $126,000. Daiwa Securities Group Inc. lifted its position in shares of JinkoSolar by 117.1% during the 1st quarter. Daiwa Securities Group Inc. now owns 7,600 shares of the semiconductor company’s stock valued at $191,000 after acquiring an additional 4,100 shares during the period. Banco BTG Pactual S.A. acquired a new stake in shares of JinkoSolar during the 1st quarter valued at approximately $207,000. Finally, Harel Insurance Investments & Financial Services Ltd. lifted its position 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 valued at $242,000 after acquiring an additional 3,521 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.