JinkoSolar (NYSE:JKS) Shares Gap Down - Should You Sell?

Shares of JinkoSolar Holding Co., Ltd. (NYSE:JKS - Get Free Report) gapped down before the market opened on Tuesday . The stock had previously closed at $27.70, but opened at $25.90. JinkoSolar shares last traded at $24.76, with a volume of 970,000 shares.

Analysts Set New Price Targets

JKS has been the topic of several recent analyst reports. StockNews.com upgraded shares of JinkoSolar from a "sell" rating to a "hold" rating in a research note on Wednesday, September 18th. Roth Mkm reduced their target price 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. Finally, The Goldman Sachs Group lowered their price target on JinkoSolar from $21.00 to $18.00 and set a "sell" rating for the company in a research note on Tuesday, September 3rd. One investment 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 presently has a consensus rating of "Hold" and a consensus price target of $24.60.

JinkoSolar Trading Down 12.8 %

The firm has a market cap of $1.28 billion, a P/E ratio of 3.79 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. The firm has a fifty day simple moving average of $21.23 and a 200-day simple moving average of $22.49.

JinkoSolar (NYSE:JKS - Get Free Report) last posted its quarterly earnings results on Friday, August 30th. The semiconductor company reported $0.97 earnings per share for the quarter, topping the consensus estimate of $0.05 by $0.92. The company had revenue of $3.31 billion during the quarter, compared to the consensus estimate of $3.85 billion. JinkoSolar had a return on equity of 7.86% and a net margin of 1.65%. On average, equities research 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. Stockholders 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 dividend payout ratio (DPR) is presently 46.18%.

Hedge Funds Weigh In On JinkoSolar

Institutional investors and hedge funds have recently made changes to their positions in the business. Decade Renewable Partners LP bought a new position in JinkoSolar during the 2nd quarter valued at about $4,272,000. Millennium Management LLC boosted its stake in 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 purchasing an additional 161,888 shares in the last quarter. Marshall Wace LLP grew its stake in JinkoSolar by 49.5% during the 2nd quarter. Marshall Wace LLP now owns 447,709 shares of the semiconductor company's stock valued at $9,277,000 after purchasing an additional 148,268 shares during the last quarter. Point72 Europe London LLP purchased a new position in JinkoSolar during the 2nd quarter worth approximately $3,023,000. Finally, Dimensional Fund Advisors LP grew its position in JinkoSolar by 8.2% during the 2nd quarter. Dimensional Fund Advisors LP now owns 981,492 shares of the semiconductor company's stock worth $20,357,000 after purchasing an additional 74,219 shares during the period. Hedge funds and other institutional investors own 35.82% of the company's stock.

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.