JinkoSolar (NYSE:JKS) Sees Strong Trading Volume – Should You Buy?

JinkoSolar Holding Co., Ltd. (NYSE:JKS) shares saw unusually-high trading volume on Friday . Approximately 1,720,145 shares were traded 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.

Analyst Upgrades and Downgrades

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

JinkoSolar Price Performance

The stock has a 50 day moving average of $19.94 and a two-hundred day moving average of $22.60. 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 market cap of $1.59 billion, a PE ratio of 4.44 and a beta of 0.40.

JinkoSolar (NYSE:JKS) last released its quarterly earnings results on Friday, August 30th. The semiconductor company reported $0.97 earnings per share (EPS) 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 for the quarter, compared to analyst estimates of $3.85 billion. Equities analysts anticipate 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. Stockholders of record on Thursday, August 15th were given 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 dividend payout ratio (DPR) is presently 46.18%.

Hedge Funds Weigh In On JinkoSolar

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Tidal Investments LLC boosted its holdings in JinkoSolar by 4.0% in the first quarter. Tidal Investments LLC now owns 21,629 shares of the semiconductor company’s stock worth $545,000 after purchasing an additional 825 shares in the last quarter. Profund Advisors LLC boosted its stake in shares of JinkoSolar by 8.5% during the 2nd quarter. Profund Advisors LLC now owns 12,217 shares of the semiconductor company’s stock worth $253,000 after acquiring an additional 960 shares in the last quarter. SG Americas Securities LLC increased its holdings in shares of JinkoSolar by 16.0% during the 2nd quarter. SG Americas Securities LLC now owns 21,321 shares of the semiconductor company’s stock valued at $442,000 after acquiring an additional 2,939 shares during the last quarter. Barometer Capital Management Inc. bought a new position in shares of JinkoSolar in the 4th quarter valued at approximately $126,000. Finally, Headlands Technologies LLC lifted its holdings in JinkoSolar by 607.7% in 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 last quarter. Institutional investors 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.