Millennium Management LLC Has $3.50 Million Stock Position in JinkoSolar Holding Co., Ltd. (NYSE:JKS)

Millennium Management LLC raised its position in shares of JinkoSolar Holding Co., Ltd. (NYSE:JKS) by 2,305.1% in the second quarter, HoldingsChannel.com reports. The firm owned 168,911 shares of the semiconductor company’s stock after purchasing an additional 161,888 shares during the quarter. Millennium Management LLC’s holdings in JinkoSolar were worth $3,500,000 at the end of the most recent quarter.

Several other hedge funds have also recently added to or reduced their stakes in the company. Headlands Technologies LLC raised 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. Daiwa Securities Group Inc. lifted its stake in shares of JinkoSolar by 117.1% in the 1st quarter. Daiwa Securities Group Inc. now owns 7,600 shares of the semiconductor company’s stock valued at $191,000 after purchasing an additional 4,100 shares during the period. Banco BTG Pactual S.A. bought a new stake in shares of JinkoSolar during the 1st quarter valued at about $207,000. Harel Insurance Investments & Financial Services Ltd. grew its stake in JinkoSolar by 43.3% during 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. Finally, Profund Advisors LLC increased its holdings in JinkoSolar by 8.5% in the second quarter. Profund Advisors LLC now owns 12,217 shares of the semiconductor company’s stock worth $253,000 after purchasing an additional 960 shares in the last quarter. Institutional investors own 35.82% of the company’s stock.

Analyst Ratings Changes

Several analysts have recently weighed in on JKS shares. The Goldman Sachs Group lowered their price objective on shares of JinkoSolar from $21.00 to $18.00 and set a “sell” rating for the company in a research note on Tuesday, September 3rd. StockNews.com raised shares of JinkoSolar from a “sell” rating to a “hold” rating in a research report on Wednesday, September 18th. Finally, Roth Mkm decreased their target price 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 equities research analyst has rated the stock with a sell rating and six have assigned a hold rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Hold” and a consensus target price of $24.60.

JinkoSolar Trading Up 4.2 %

JKS opened at $24.02 on Monday. The firm has a market capitalization of $1.28 billion, a PE ratio of 3.75 and a beta of 0.43. 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 fifty-two week low of $16.70 and a fifty-two week high of $38.65. The company’s 50-day moving average is $20.69 and its 200 day moving average is $22.69.

JinkoSolar (NYSE:JKS) last announced its earnings results on Friday, August 30th. The semiconductor company reported $0.97 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.05 by $0.92. The company had revenue of $3.31 billion for the quarter, compared to analysts’ expectations of $3.85 billion. JinkoSolar had a return on equity of 7.86% and a net margin of 1.65%. As a group, research analysts predict that JinkoSolar Holding Co., Ltd. will post -0.42 earnings per share for the current fiscal year.

JinkoSolar Dividend Announcement

The company also recently announced a Variable dividend, which was paid on Friday, August 30th. Stockholders of record on Thursday, August 15th were issued 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 is currently 46.18%.

JinkoSolar 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.