AQR Capital Management LLC Cuts Holdings in JinkoSolar Holding Co., Ltd. (NYSE:JKS)

AQR Capital Management LLC cut its holdings in shares of JinkoSolar Holding Co., Ltd. (NYSE:JKS) by 62.6% during the second quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 11,456 shares of the semiconductor company’s stock after selling 19,159 shares during the period. AQR Capital Management LLC’s holdings in JinkoSolar were worth $237,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently modified their holdings of the company. GSA Capital Partners LLP raised its position in shares of JinkoSolar by 372.9% during the 1st quarter. GSA Capital Partners LLP now owns 77,349 shares of the semiconductor company’s stock worth $1,948,000 after purchasing an additional 60,992 shares during the last quarter. Marshall Wace LLP boosted its stake in shares of JinkoSolar by 49.5% in the second 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 last quarter. SG Americas Securities LLC increased its position in shares of 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. Mirae Asset Global Investments Co. Ltd. lifted its holdings in JinkoSolar by 31.9% in the 1st quarter. Mirae Asset Global Investments Co. Ltd. now owns 51,588 shares of the semiconductor company’s stock valued at $1,300,000 after purchasing an additional 12,464 shares in the last quarter. Finally, Point72 Europe London LLP acquired a new stake in JinkoSolar during the 2nd quarter worth $3,023,000. Hedge funds and other institutional investors own 35.82% of the company’s stock.

Analyst Ratings Changes

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

JinkoSolar Stock Performance

NYSE JKS opened at $19.86 on Friday. The company has a fifty day moving average of $20.86 and a two-hundred day moving average of $22.62. 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 Holding Co., Ltd. has a 1 year low of $16.70 and a 1 year high of $38.65. The company has a market capitalization of $1.06 billion, a PE ratio of 3.10 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. JinkoSolar had a return on equity of 7.86% and a net margin of 1.65%. The business had revenue of $3.31 billion during the quarter, compared to analysts’ expectations of $3.85 billion. As a group, analysts expect that JinkoSolar Holding Co., Ltd. will post -0.42 earnings per share for the current year.

JinkoSolar Announces Dividend

The business also recently disclosed 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. This represents a dividend yield of 15.6%. The ex-dividend date was Thursday, August 15th. JinkoSolar’s payout ratio is currently 46.18%.

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.