JinkoSolar Holding Co., Ltd. (NYSE:JKS – Get Free Report) traded down 2.6% on Wednesday after Roth Mkm lowered their price target on the stock from $25.00 to $20.00. Roth Mkm currently has a neutral rating on the stock. JinkoSolar traded as low as $17.35 and last traded at $17.55. 158,784 shares changed hands during mid-day trading, a decline of 81% from the average session volume of 850,925 shares. The stock had previously closed at $18.02.
A number of other brokerages have also issued reports on JKS. StockNews.com upgraded JinkoSolar from a “sell” rating to a “hold” rating in a research report on Monday. The Goldman Sachs Group decreased their price objective on shares of JinkoSolar from $21.00 to $18.00 and set a “sell” rating on the stock in a report on Tuesday. One investment analyst has rated the stock with a sell rating and six have given a hold rating to the company. According to MarketBeat, JinkoSolar has an average rating of “Hold” and a consensus target price of $24.60.
Institutional Investors Weigh In On JinkoSolar
Several institutional investors and hedge funds have recently added to or reduced their stakes in the business. Mackenzie Financial Corp lifted its stake in JinkoSolar by 1.8% in 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 in the last quarter. Millennium Management LLC lifted its position in JinkoSolar by 2,305.1% during the second quarter. Millennium Management LLC now owns 168,911 shares of the semiconductor company’s stock worth $3,500,000 after buying an additional 161,888 shares in the last quarter. Decade Renewable Partners LP purchased a new position in JinkoSolar during the second quarter worth approximately $4,272,000. Point72 Europe London LLP acquired a new position in JinkoSolar during the second quarter worth $3,023,000. Finally, Marshall Wace LLP grew its holdings in JinkoSolar by 49.5% in the 2nd quarter. Marshall Wace LLP now owns 447,709 shares of the semiconductor company’s stock valued at $9,277,000 after buying an additional 148,268 shares in the last quarter. Institutional investors and hedge funds own 35.82% of the company’s stock.
JinkoSolar Stock Down 4.2 %
The business has a 50 day simple moving average of $20.22 and a 200-day simple moving average of $23.46. The company has a debt-to-equity ratio of 0.56, a quick ratio of 0.77 and a current ratio of 1.03. The firm has a market capitalization of $917.99 million, a price-to-earnings ratio of 2.69 and a beta of 0.38.
JinkoSolar Announces Dividend
The company also recently announced 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 (DPR) is presently 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.