JinkoSolar (NYSE:JKS) Shares Gap Up – Still a Buy?

Shares of JinkoSolar Holding Co., Ltd. (NYSE:JKS) gapped up before the market opened on Friday . The stock had previously closed at $21.55, but opened at $22.60. JinkoSolar shares last traded at $25.20, with a volume of 1,327,275 shares traded.

Wall Street Analysts Forecast Growth

A number of equities analysts recently issued reports on JKS shares. StockNews.com raised JinkoSolar from a “sell” rating to a “hold” rating in a report on Wednesday, September 18th. The Goldman Sachs Group lowered their target price on shares of JinkoSolar from $21.00 to $18.00 and set a “sell” rating for the company in a report on Tuesday, September 3rd. Finally, Roth Mkm cut their price target on shares of JinkoSolar from $25.00 to $20.00 and set a “neutral” rating on the stock in a research note 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 company. According to data from MarketBeat.com, the company has an average rating of “Hold” and a consensus target price of $24.60.

JinkoSolar Stock Performance

The company has a market cap of $1.25 billion, a price-to-earnings ratio of 7.69 and a beta of 0.43. The firm has a 50-day simple moving average of $21.07 and a 200 day simple moving average of $22.48. 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 announced its earnings results on Friday, August 30th. The semiconductor company reported $0.97 EPS for the quarter, beating analysts’ consensus estimates of $0.05 by $0.92. The business had revenue of $3.31 billion for the quarter, compared to analysts’ expectations of $3.85 billion. JinkoSolar had a net margin of 1.65% and a return on equity of 7.86%. On average, sell-side analysts predict that JinkoSolar Holding Co., Ltd. will post -0.42 earnings per share for the current fiscal 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 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 payout ratio is 96.73%.

Hedge Funds Weigh In On JinkoSolar

A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. Signaturefd LLC raised its stake in JinkoSolar by 108.0% during the 3rd quarter. Signaturefd LLC now owns 1,246 shares of the semiconductor company’s stock valued at $33,000 after acquiring an additional 647 shares during the last quarter. Tidal Investments LLC raised its stake in shares of JinkoSolar by 4.0% during 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 during the last quarter. Profund Advisors LLC lifted its holdings in shares of JinkoSolar by 8.5% during 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 during the period. Green Alpha Advisors LLC increased its stake in JinkoSolar by 2.1% in the 3rd quarter. Green Alpha Advisors LLC now owns 71,548 shares of the semiconductor company’s stock valued at $1,919,000 after buying an additional 1,497 shares during the period. Finally, SG Americas Securities LLC raised its position in JinkoSolar by 16.0% during the 2nd quarter. SG Americas Securities LLC now owns 21,321 shares of the semiconductor company’s stock worth $442,000 after buying an additional 2,939 shares during the last quarter. Hedge funds and other institutional investors 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.