JinkoSolar (NYSE:JKS) Stock Price Down 5.1% - Here's Why

Shares of JinkoSolar Holding Co., Ltd. (NYSE:JKS - Get Free Report) dropped 5.1% on Tuesday . The company traded as low as $21.90 and last traded at $21.93. Approximately 494,266 shares were traded during trading, a decline of 48% from the average daily volume of 955,670 shares. The stock had previously closed at $23.12.

Wall Street Analysts Forecast Growth

JKS has been the topic of a number of recent research reports. StockNews.com raised JinkoSolar from a "sell" rating to a "hold" rating in a research report on Wednesday, September 18th. The Goldman Sachs Group dropped their price objective 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, Roth Mkm decreased their price target on JinkoSolar from $25.00 to $20.00 and set a "neutral" rating for the company in a research note on Wednesday, September 4th. One equities research analyst has rated the stock with a sell rating and six have given a hold rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of "Hold" and an average price target of $24.60.

JinkoSolar Stock Performance

The business has a 50 day simple moving average of $20.82 and a 200 day simple moving average of $22.65. 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 company has a market capitalization of $1.14 billion, a PE ratio of 3.34 and a beta of 0.43.

JinkoSolar (NYSE:JKS - Get Free Report) last announced its quarterly earnings data 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 return on equity of 7.86% and a net margin of 1.65%. The firm had revenue of $3.31 billion during the quarter, compared to analysts' expectations of $3.85 billion. Equities research analysts predict that JinkoSolar Holding Co., Ltd. will post -0.42 EPS for the current fiscal year.

JinkoSolar Announces Dividend

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

Institutional Inflows and Outflows

Institutional investors have recently modified their holdings of the company. Green Alpha Advisors LLC raised its position in JinkoSolar by 2.1% during the third quarter. Green Alpha Advisors LLC now owns 71,548 shares of the semiconductor company's stock valued at $1,919,000 after acquiring an additional 1,497 shares in the last quarter. Mackenzie Financial Corp raised its position in JinkoSolar by 1.8% during the second quarter. Mackenzie Financial Corp now owns 2,572,177 shares of the semiconductor company's stock valued at $53,296,000 after acquiring an additional 44,661 shares in the last quarter. Millennium Management LLC raised 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 valued at $3,500,000 after acquiring an additional 161,888 shares in the last quarter. Decade Renewable Partners LP purchased a new position in JinkoSolar during the second quarter valued at approximately $4,272,000. Finally, Point72 Europe London LLP purchased a new position in JinkoSolar during the second quarter valued at approximately $3,023,000. 35.82% of the stock is currently owned by hedge funds and other 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.