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 $27.70, but opened at $25.90. JinkoSolar shares last traded at $24.76, with a volume of 970,000 shares.

Wall Street Analysts Forecast Growth

Several research firms have issued reports on JKS. 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. StockNews.com upgraded JinkoSolar from a “sell” rating to a “hold” rating in a report on Wednesday, September 18th. Finally, The Goldman Sachs Group reduced 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. One equities research analyst has rated the stock with a sell rating and six have given a hold rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Hold” and an average target price of $24.60.

JinkoSolar Trading Up 4.9 %

The business’s 50-day simple moving average is $21.45 and its two-hundred day simple moving average is $22.52. The company has a current ratio of 1.08, a quick ratio of 0.79 and a debt-to-equity ratio of 0.76. The company has a market capitalization of $1.35 billion, a PE ratio of 3.95 and a beta of 0.43.

JinkoSolar (NYSE:JKS) last issued its quarterly earnings data on Friday, August 30th. The semiconductor company reported $0.97 earnings per share for the quarter, beating 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 during the quarter, compared to analyst estimates of $3.85 billion. On average, analysts predict that JinkoSolar Holding Co., Ltd. will post -0.42 earnings per share for the current year.

JinkoSolar Dividend Announcement

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

Hedge Funds Weigh In On JinkoSolar

Hedge funds have recently added to or reduced their stakes in the business. Mackenzie Financial Corp boosted its holdings in shares of JinkoSolar by 1.8% in the 2nd 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 period. Vanguard Group Inc. lifted its holdings in JinkoSolar by 0.9% in the first quarter. Vanguard Group Inc. now owns 1,591,101 shares of the semiconductor company’s stock worth $40,080,000 after acquiring an additional 14,491 shares during the last quarter. Dimensional Fund Advisors LP boosted its stake in JinkoSolar by 8.2% in the second quarter. Dimensional Fund Advisors LP now owns 981,492 shares of the semiconductor company’s stock valued at $20,357,000 after acquiring an additional 74,219 shares during the period. Marshall Wace LLP grew its holdings in shares of JinkoSolar by 49.5% during the second quarter. Marshall Wace LLP now owns 447,709 shares of the semiconductor company’s stock valued at $9,277,000 after purchasing an additional 148,268 shares during the last quarter. Finally, Decade Renewable Partners LP acquired a new stake in shares of JinkoSolar during the 2nd quarter worth approximately $4,272,000. Institutional investors and hedge funds 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.