JinkoSolar (NYSE:JKS) Trading Down 5.1% – Should You Sell?

JinkoSolar Holding Co., Ltd. (NYSE:JKS) shares were down 5.1% on Tuesday . The stock traded as low as $21.90 and last traded at $21.93. Approximately 494,266 shares traded hands during trading, a decline of 48% from the average daily volume of 955,670 shares. The stock had previously closed at $23.12.

Analyst Upgrades and Downgrades

JKS has been the subject of several research reports. The Goldman Sachs Group cut 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. Roth Mkm dropped their target price on shares of JinkoSolar from $25.00 to $20.00 and set a “neutral” rating for the company in a report on Wednesday, September 4th. Finally, StockNews.com upgraded 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 stock. According to data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus price target of $24.60.

JinkoSolar Trading Down 5.1 %

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 fifty day simple moving average of $20.86 and a 200-day simple moving average of $22.64. The company has a market capitalization of $1.06 billion, a PE ratio of 3.10 and a beta of 0.43.

JinkoSolar (NYSE:JKS) last released its quarterly earnings data on Friday, August 30th. The semiconductor company reported $0.97 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.05 by $0.92. JinkoSolar had a net margin of 1.65% and a return on equity of 7.86%. The firm had revenue of $3.31 billion during the quarter, compared to analysts’ expectations of $3.85 billion. Analysts predict 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. Investors of record on Thursday, August 15th were given a $1.50 dividend. The ex-dividend date was Thursday, August 15th. This represents a yield of 15.6%. JinkoSolar’s payout ratio is 46.18%.

Institutional Investors Weigh In On JinkoSolar

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Headlands Technologies LLC grew its holdings in shares of JinkoSolar by 607.7% during the 2nd quarter. Headlands Technologies LLC now owns 4,048 shares of the semiconductor company’s stock worth $84,000 after purchasing an additional 3,476 shares during the period. Daiwa Securities Group Inc. lifted its holdings in shares of JinkoSolar by 117.1% in the 1st quarter. Daiwa Securities Group Inc. now owns 7,600 shares of the semiconductor company’s stock worth $191,000 after acquiring an additional 4,100 shares during the last quarter. Banco BTG Pactual S.A. acquired a new position in JinkoSolar during the first quarter worth $207,000. Harel Insurance Investments & Financial Services Ltd. grew its stake in shares of JinkoSolar by 43.3% in the second quarter. Harel Insurance Investments & Financial Services Ltd. now owns 11,659 shares of the semiconductor company’s stock valued at $242,000 after buying an additional 3,521 shares in the last quarter. Finally, Profund Advisors LLC raised its holdings in shares of JinkoSolar by 8.5% in the 2nd quarter. Profund Advisors LLC now owns 12,217 shares of the semiconductor company’s stock valued at $253,000 after buying an additional 960 shares during the period. Hedge funds and other 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.