JinkoSolar (NYSE:JKS) Shares Gap Down – Time to Sell?

JinkoSolar Holding Co., Ltd. (NYSE:JKS)’s stock price gapped down before the market opened on Tuesday . The stock had previously closed at $32.77, but opened at $29.05. JinkoSolar shares last traded at $27.72, with a volume of 714,220 shares traded.

Analyst Ratings Changes

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

JinkoSolar Stock Performance

The firm has a market capitalization of $1.43 billion, a price-to-earnings ratio of 4.25 and a beta of 0.43. The company has a fifty day moving average of $20.34 and a two-hundred day moving average of $22.65. 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 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 business had revenue of $3.31 billion during 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%. As a group, equities research analysts predict that JinkoSolar Holding Co., Ltd. will post -0.42 earnings per share for the current fiscal year.

JinkoSolar Announces Dividend

The business 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. The ex-dividend date of this dividend was Thursday, August 15th. This represents a yield of 15.6%. JinkoSolar’s dividend payout ratio is presently 46.18%.

Hedge Funds Weigh In On JinkoSolar

Several hedge funds and other institutional investors have recently added to or reduced their stakes in JKS. Mackenzie Financial Corp raised its holdings in shares of JinkoSolar by 1.8% during the 2nd quarter. Mackenzie Financial Corp now owns 2,572,177 shares of the semiconductor company’s stock worth $53,296,000 after buying an additional 44,661 shares in the last quarter. GSA Capital Partners LLP grew its position in shares of JinkoSolar by 372.9% in the 1st 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 grew its position in shares of JinkoSolar by 49.5% in the 2nd 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 grew its position in shares of JinkoSolar by 16.0% in the 2nd quarter. SG Americas Securities LLC now owns 21,321 shares of the semiconductor company’s stock valued at $442,000 after buying an additional 2,939 shares during the last quarter. Finally, Decade Renewable Partners LP acquired a new position in shares of JinkoSolar in the 2nd quarter valued at about $4,272,000. 35.82% of the stock is owned by institutional investors and hedge funds.

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.