JinkoSolar (NYSE:JKS) Shares Gap Up to $21.25

JinkoSolar Holding Co., Ltd. (NYSE:JKS - Get Free Report) shares gapped up before the market opened on Friday . The stock had previously closed at $21.25, but opened at $21.95. JinkoSolar shares last traded at $22.42, with a volume of 153,370 shares.

Wall Street Analysts Forecast Growth

A number of brokerages have recently issued reports on JKS. Roth Mkm lowered their target price on shares of JinkoSolar from $25.00 to $20.00 and set a "neutral" rating on the stock in a research report on Wednesday, September 4th. StockNews.com raised JinkoSolar from a "sell" rating to a "hold" rating in a report on Wednesday, September 18th. Finally, The Goldman Sachs Group decreased their price target on JinkoSolar from $21.00 to $18.00 and set a "sell" rating for the company in a report on Tuesday, September 3rd. One equities research analyst has rated the stock with a sell rating and six have given a hold rating to the stock. According to data from MarketBeat.com, JinkoSolar has an average rating of "Hold" and a consensus price target of $24.60.

JinkoSolar Trading Up 10.0 %

The company has a quick ratio of 0.79, a current ratio of 1.08 and a debt-to-equity ratio of 0.76. The business has a fifty day simple moving average of $19.48 and a 200 day simple moving average of $22.68. The company has a market cap of $1.24 billion, a price-to-earnings ratio of 3.57 and a beta of 0.40.

JinkoSolar (NYSE:JKS - Get Free Report) last released 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. JinkoSolar had a return on equity of 7.86% and a net margin of 1.65%. The company had revenue of $3.31 billion during the quarter, compared to the consensus estimate of $3.85 billion. On average, equities analysts anticipate that JinkoSolar Holding Co., Ltd. will post -0.42 EPS for the current fiscal year.

JinkoSolar Dividend Announcement

The firm also recently announced a Variable dividend, which was paid on Friday, August 30th. Shareholders of record on Thursday, August 15th were issued a $1.50 dividend. This represents a yield of 15.6%. The ex-dividend date was Thursday, August 15th. JinkoSolar's dividend payout ratio (DPR) is currently 46.18%.

Institutional Investors Weigh In On JinkoSolar

Hedge funds and other institutional investors have recently bought and sold shares of the business. Barometer Capital Management Inc. acquired a new position in shares of JinkoSolar during the 4th quarter worth $126,000. Headlands Technologies LLC raised its stake in shares of JinkoSolar by 607.7% during the 2nd 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. raised its stake in shares of JinkoSolar by 117.1% during the 1st quarter. Daiwa Securities Group Inc. now owns 7,600 shares of the semiconductor company's stock worth $191,000 after buying an additional 4,100 shares during the last quarter. Banco BTG Pactual S.A. acquired a new position in shares of JinkoSolar during the 1st quarter worth $207,000. Finally, Harel Insurance Investments & Financial Services Ltd. raised its stake in shares of JinkoSolar by 43.3% during the 2nd quarter. Harel Insurance Investments & Financial Services Ltd. now owns 11,659 shares of the semiconductor company's stock worth $242,000 after buying an additional 3,521 shares during the last quarter. Institutional investors and hedge funds 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.

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