JinkoSolar (NYSE:JKS) Shares Gap Up – Should You Buy?

JinkoSolar Holding Co., Ltd. (NYSE:JKS)’s share price gapped up prior to trading on Friday . The stock had previously closed at $19.87, but opened at $20.90. JinkoSolar shares last traded at $21.28, with a volume of 586,733 shares trading hands.

Analyst Ratings Changes

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

JinkoSolar Stock Performance

The company has a debt-to-equity ratio of 0.76, a quick ratio of 0.79 and a current ratio of 1.08. The stock has a 50 day moving average of $20.88 and a 200 day moving average of $22.57. The stock has a market capitalization of $1.08 billion, a P/E ratio of 3.18 and a beta of 0.43.

JinkoSolar (NYSE:JKS) last released its quarterly earnings results on Friday, August 30th. The semiconductor company reported $0.97 EPS 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 analyst estimates of $3.85 billion. JinkoSolar had a net margin of 1.65% and a return on equity of 7.86%. Equities analysts predict that JinkoSolar Holding Co., Ltd. will post -0.42 EPS for the current year.

JinkoSolar Announces Dividend

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

Hedge Funds Weigh In On JinkoSolar

Several hedge funds and other institutional investors have recently made changes to their positions in JKS. Mackenzie Financial Corp lifted its holdings in JinkoSolar by 1.8% in the second quarter. Mackenzie Financial Corp now owns 2,572,177 shares of the semiconductor company’s stock worth $53,296,000 after purchasing an additional 44,661 shares during the period. GSA Capital Partners LLP lifted its stake 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 worth $1,948,000 after acquiring an additional 60,992 shares during the period. Marshall Wace LLP lifted its stake 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 worth $9,277,000 after acquiring an additional 148,268 shares during the period. Millennium Management LLC increased its stake in shares of JinkoSolar by 2,305.1% during the second quarter. Millennium Management LLC now owns 168,911 shares of the semiconductor company’s stock valued at $3,500,000 after acquiring an additional 161,888 shares during the period. Finally, SG Americas Securities LLC raised its holdings in JinkoSolar by 16.0% during the second quarter. SG Americas Securities LLC now owns 21,321 shares of the semiconductor company’s stock worth $442,000 after purchasing an additional 2,939 shares in the last quarter. 35.82% of the stock is currently owned by institutional investors and hedge funds.

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.