JinkoSolar Holding Co., Ltd. (NYSE:JKS) Receives $24.60 Consensus Target Price from Brokerages

Shares of JinkoSolar Holding Co., Ltd. (NYSE:JKS) have been assigned an average recommendation of “Reduce” from the six ratings firms that are covering the firm, MarketBeat reports. One research analyst has rated the stock with a sell recommendation and five have assigned a hold recommendation to the company. The average twelve-month price objective among brokers that have updated their coverage on the stock in the last year is $24.60.

Several research analysts recently commented on JKS shares. The Goldman Sachs Group lowered their target price on JinkoSolar from $21.00 to $18.00 and set a “sell” rating for the company in a research note on Tuesday, September 3rd. Roth Mkm lowered their target price on JinkoSolar from $25.00 to $20.00 and set a “neutral” rating for the company in a research note on Wednesday, September 4th. Finally, StockNews.com cut JinkoSolar from a “hold” rating to a “sell” rating in a research note on Tuesday, September 10th.

JinkoSolar Trading Up 0.8 %

Shares of NYSE JKS opened at $19.36 on Thursday. JinkoSolar has a twelve month low of $16.70 and a twelve month high of $38.65. The company has a current ratio of 1.08, a quick ratio of 0.79 and a debt-to-equity ratio of 0.76. The stock has a fifty day simple moving average of $19.82 and a 200-day simple moving average of $23.09. The stock has a market capitalization of $1.03 billion, a PE ratio of 3.02 and a beta of 0.40.

JinkoSolar Announces Dividend

The business also recently disclosed a Variable dividend, which was paid on Friday, August 30th. Shareholders of record on Thursday, August 15th were paid a dividend of $1.50 per share. 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

Several institutional investors and hedge funds have recently added to or reduced their stakes in the business. Mackenzie Financial Corp increased its position in JinkoSolar by 1.8% during the 2nd quarter. Mackenzie Financial Corp now owns 2,572,177 shares of the semiconductor company’s stock worth $53,296,000 after purchasing an additional 44,661 shares during the period. Millennium Management LLC grew its holdings in shares of JinkoSolar by 2,305.1% in the 2nd quarter. Millennium Management LLC now owns 168,911 shares of the semiconductor company’s stock worth $3,500,000 after acquiring an additional 161,888 shares during the period. Decade Renewable Partners LP acquired a new stake in shares of JinkoSolar in the 2nd quarter worth approximately $4,272,000. Point72 Europe London LLP acquired a new stake in shares of JinkoSolar in the 2nd quarter worth approximately $3,023,000. Finally, Marshall Wace LLP grew its holdings in shares of JinkoSolar by 49.5% in the 2nd 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 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.