JinkoSolar (NYSE:JKS) Sees Large Volume Increase – What’s Next?

JinkoSolar Holding Co., Ltd. (NYSE:JKS) saw unusually-high trading volume on Friday . Approximately 1,720,145 shares changed hands during trading, an increase of 98% from the previous session’s volume of 869,893 shares.The stock last traded at $29.17 and had previously closed at $26.09.

Wall Street Analysts Forecast Growth

Several equities analysts recently commented on the company. StockNews.com raised JinkoSolar from a “sell” rating to a “hold” rating in a research report on Wednesday, September 18th. Roth Mkm reduced their target price on shares of 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 lowered their price target 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 analyst has rated the stock with a sell rating and six have assigned a hold rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Hold” and a consensus target price of $24.60.

JinkoSolar Price Performance

The business’s 50-day moving average price is $19.94 and its two-hundred day moving average price is $22.60. The firm has a market cap of $1.59 billion, a price-to-earnings ratio of 4.44 and a beta of 0.40. The company has a debt-to-equity ratio of 0.76, a current ratio of 1.08 and a quick ratio of 0.79.

JinkoSolar (NYSE:JKS) last announced its quarterly earnings data on Friday, August 30th. The semiconductor company reported $0.97 earnings per share for the quarter, beating the consensus estimate 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, research analysts forecast that JinkoSolar Holding Co., Ltd. will post -0.42 EPS for the current fiscal year.

JinkoSolar Announces Dividend

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

Hedge Funds Weigh In On JinkoSolar

A number of large investors have recently bought and sold shares of JKS. Tidal Investments LLC boosted its holdings in shares of JinkoSolar by 4.0% during the first quarter. Tidal Investments LLC now owns 21,629 shares of the semiconductor company’s stock valued at $545,000 after acquiring an additional 825 shares during the period. Profund Advisors LLC grew its position in JinkoSolar by 8.5% in the 2nd quarter. Profund Advisors LLC now owns 12,217 shares of the semiconductor company’s stock worth $253,000 after purchasing an additional 960 shares during the last quarter. SG Americas Securities LLC increased its stake in shares of JinkoSolar by 16.0% in the second quarter. SG Americas Securities LLC now owns 21,321 shares of the semiconductor company’s stock valued at $442,000 after purchasing an additional 2,939 shares during the period. Barometer Capital Management Inc. acquired a new stake in shares of JinkoSolar in the fourth quarter valued at approximately $126,000. Finally, Headlands Technologies LLC boosted its position in shares of JinkoSolar by 607.7% during the second quarter. Headlands Technologies LLC now owns 4,048 shares of the semiconductor company’s stock worth $84,000 after buying an additional 3,476 shares during the period. 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.