JinkoSolar (NYSE:JKS) Stock Price Up 3.6% - Still a Buy?

Shares of JinkoSolar Holding Co., Ltd. (NYSE:JKS - Get Free Report) traded up 3.6% during mid-day trading on Tuesday . The stock traded as high as $21.43 and last traded at $21.16. 403,879 shares were traded during mid-day trading, a decline of 59% from the average session volume of 975,650 shares. The stock had previously closed at $20.42.

Analyst Upgrades and Downgrades

Several equities analysts recently issued reports on the company. 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 report on Wednesday, September 4th. The Goldman Sachs Group dropped their price target on JinkoSolar from $21.00 to $18.00 and set a "sell" rating on the stock in a research report on Tuesday, September 3rd. Finally, StockNews.com upgraded JinkoSolar from a "sell" rating to a "hold" rating in a research report on Wednesday, September 18th. One equities research analyst has rated the stock with a sell rating and six have issued a hold rating to the stock. According to MarketBeat.com, the company presently has an average rating of "Hold" and a consensus price target of $24.60.

JinkoSolar Trading Up 4.6 %

The firm has a market cap of $1.13 billion, a price-to-earnings ratio of 3.34 and a beta of 0.43. The company has a debt-to-equity ratio of 0.76, a quick ratio of 0.79 and a current ratio of 1.08. The business has a fifty day moving average of $20.91 and a two-hundred day moving average of $22.54.

JinkoSolar (NYSE:JKS - Get Free Report) last released its quarterly earnings results on Friday, August 30th. The semiconductor company reported $0.97 earnings per share for the quarter, topping 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 return on equity of 7.86% and a net margin of 1.65%. As a group, equities analysts expect that JinkoSolar Holding Co., Ltd. will post -0.42 earnings per share for the current fiscal year.

JinkoSolar Announces Dividend

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

Institutional Investors Weigh In On JinkoSolar

A number of institutional investors and hedge funds have recently bought and sold shares of JKS. Mackenzie Financial Corp lifted its stake in shares of JinkoSolar by 1.8% during 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 during the period. GSA Capital Partners LLP increased its holdings in shares of JinkoSolar by 372.9% during the 1st quarter. GSA Capital Partners LLP now owns 77,349 shares of the semiconductor company's stock worth $1,948,000 after buying an additional 60,992 shares during the last quarter. Marshall Wace LLP increased 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 buying an additional 148,268 shares during the last quarter. Millennium Management LLC increased its holdings in shares of JinkoSolar by 2,305.1% during the 2nd 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 during the last quarter. Finally, SG Americas Securities LLC increased its holdings in shares of 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.