JinkoSolar (NYSE:JKS) Shares Gap Down to $26.82

Shares of JinkoSolar Holding Co., Ltd. (NYSE:JKS) gapped down before the market opened on Tuesday . The stock had previously closed at $26.82, but opened at $26.20. JinkoSolar shares last traded at $25.51, with a volume of 378,884 shares changing hands.

Analyst Ratings Changes

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

JinkoSolar Trading Down 8.0 %

The firm has a market capitalization of $1.31 billion, a price-to-earnings ratio of 3.94 and a beta of 0.40. The firm’s 50 day moving average is $19.63 and its 200 day moving average is $22.57. The company has a quick ratio of 0.79, a current ratio of 1.08 and a debt-to-equity ratio of 0.76.

JinkoSolar (NYSE:JKS) last released its earnings results on Friday, August 30th. The semiconductor company reported $0.97 earnings per share (EPS) for the quarter, topping 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 company had revenue of $3.31 billion during the quarter, compared to the consensus estimate of $3.85 billion. Equities analysts forecast that JinkoSolar Holding Co., Ltd. will post -0.42 earnings per share for the current year.

JinkoSolar Dividend Announcement

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

Hedge Funds Weigh In On JinkoSolar

Hedge funds have recently made changes to their positions in the business. Headlands Technologies LLC grew its stake in 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 last quarter. Barometer Capital Management Inc. acquired a new position in shares of JinkoSolar during the fourth quarter worth approximately $126,000. Daiwa Securities Group Inc. lifted its holdings 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 buying an additional 4,100 shares during the period. Banco BTG Pactual S.A. acquired a new position in JinkoSolar in the first quarter valued at approximately $207,000. Finally, Harel Insurance Investments & Financial Services Ltd. raised its holdings in 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 worth $242,000 after purchasing an additional 3,521 shares during the period. 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.