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

JinkoSolar Holding Co., Ltd. (NYSE:JKS - Get Free Report) shares gapped up before the market opened on Friday . The stock had previously closed at $19.87, but opened at $20.90. JinkoSolar shares last traded at $21.28, with a volume of 586,733 shares trading hands.

Analyst Ratings Changes

A number of brokerages have recently commented on JKS. StockNews.com upgraded shares of JinkoSolar from a "sell" rating to a "hold" rating in a research note on Wednesday, September 18th. The Goldman Sachs Group decreased their target price 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. Finally, Roth Mkm dropped their price target on JinkoSolar from $25.00 to $20.00 and set a "neutral" rating on the stock in a research note on Wednesday, September 4th. One research analyst has rated the stock with a sell rating and six have assigned a hold rating to the stock. According to MarketBeat.com, the company has a consensus rating of "Hold" and an average price target of $24.60.

JinkoSolar Stock Up 2.5 %

The company has a fifty day simple moving average of $20.86 and a 200-day simple moving average of $22.62. 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 firm has a market cap of $1.08 billion, a P/E ratio of 3.34 and a beta of 0.43.

JinkoSolar (NYSE:JKS - Get Free Report) last released its earnings results on Friday, August 30th. The semiconductor company reported $0.97 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.05 by $0.92. JinkoSolar had a net margin of 1.65% and a return on equity of 7.86%. The company had revenue of $3.31 billion during the quarter, compared to analyst estimates of $3.85 billion. On average, equities analysts anticipate that JinkoSolar Holding Co., Ltd. will post -0.42 earnings per share for the current year.

JinkoSolar Dividend Announcement

The firm also recently disclosed a Variable dividend, which was paid on Friday, August 30th. Stockholders of record on Thursday, August 15th were given 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 46.18%.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently added to or reduced their stakes in JKS. Decade Renewable Partners LP purchased a new position in shares of JinkoSolar during the second quarter valued at about $4,272,000. Millennium Management LLC increased 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 acquiring an additional 161,888 shares during the last quarter. Marshall Wace LLP raised its holdings in shares of JinkoSolar by 49.5% during the 2nd quarter. Marshall Wace LLP now owns 447,709 shares of the semiconductor company's stock worth $9,277,000 after acquiring an additional 148,268 shares in the last quarter. Point72 Europe London LLP bought a new position in shares of JinkoSolar during the 2nd quarter valued at approximately $3,023,000. Finally, Dimensional Fund Advisors LP grew its holdings in shares of JinkoSolar by 8.2% in the second quarter. Dimensional Fund Advisors LP now owns 981,492 shares of the semiconductor company's stock valued at $20,357,000 after purchasing an additional 74,219 shares in the last quarter. 35.82% of the stock is currently owned by institutional investors.

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.