JinkoSolar (NYSE:JKS) Shares Gap Up to $21.25

JinkoSolar Holding Co., Ltd. (NYSE:JKS)’s share price gapped up prior to trading on Friday . The stock had previously closed at $21.25, but opened at $21.95. JinkoSolar shares last traded at $22.42, with a volume of 153,370 shares trading hands.

Analyst Ratings Changes

Several equities analysts have recently weighed in on the company. Roth Mkm decreased their target price on JinkoSolar from $25.00 to $20.00 and set a “neutral” rating on the stock in a research report on Wednesday, September 4th. StockNews.com raised shares of 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 shares of JinkoSolar from $21.00 to $18.00 and set a “sell” rating on the stock 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 company. According to data from MarketBeat, JinkoSolar has a consensus rating of “Hold” and an average target price of $24.60.

JinkoSolar Price Performance

The company has a market cap of $1.23 billion, a PE ratio of 3.62 and a beta of 0.40. 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 50-day simple moving average of $19.52 and a 200 day simple moving average of $22.60.

JinkoSolar (NYSE:JKS) last announced its quarterly earnings results 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 net margin of 1.65% and a return on equity of 7.86%. The business had revenue of $3.31 billion during the quarter, compared to analysts’ expectations of $3.85 billion. Equities analysts expect that JinkoSolar Holding Co., Ltd. will post -0.42 EPS for the current year.

JinkoSolar Announces Dividend

The firm also recently announced a Variable dividend, which was paid on Friday, August 30th. Shareholders of record on Thursday, August 15th were issued a dividend of $1.50 per share. The ex-dividend date of this dividend was Thursday, August 15th. This represents a yield of 15.6%. JinkoSolar’s dividend payout ratio (DPR) is presently 46.18%.

Hedge Funds Weigh In On JinkoSolar

Several institutional investors have recently modified their holdings of JKS. Headlands Technologies LLC boosted its holdings in JinkoSolar by 607.7% in the second 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. purchased a new stake in JinkoSolar in the fourth quarter valued at $126,000. Daiwa Securities Group Inc. boosted its stake in JinkoSolar by 117.1% in the first 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 in the last quarter. Banco BTG Pactual S.A. acquired a new stake in shares of JinkoSolar during the first quarter worth about $207,000. Finally, Harel Insurance Investments & Financial Services Ltd. increased its position in JinkoSolar by 43.3% during the second quarter. Harel Insurance Investments & Financial Services Ltd. now owns 11,659 shares of the semiconductor company’s stock worth $242,000 after buying an additional 3,521 shares during the period. Institutional investors and hedge funds 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.