JinkoSolar (NYSE:JKS) Sees Large Volume Increase - Still a Buy?

JinkoSolar Holding Co., Ltd. (NYSE:JKS - Get Free Report) saw an uptick in trading volume on Wednesday . 707,024 shares traded hands during mid-day trading, a decline of 32% from the previous session's volume of 1,034,735 shares.The stock last traded at $24.60 and had previously closed at $24.16.

Analyst Ratings Changes

A number of brokerages recently weighed in 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 note on Wednesday, September 4th. The Goldman Sachs Group decreased their price target on shares of JinkoSolar from $21.00 to $18.00 and set a "sell" rating on the stock in a research note on Tuesday, September 3rd. Finally, StockNews.com raised shares of JinkoSolar from a "sell" rating to a "hold" rating in a research note on Wednesday, September 18th. One research analyst has rated the stock with a sell rating and six have assigned a hold rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of "Hold" and a consensus target price of $24.60.

JinkoSolar Price Performance

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 stock has a market cap of $1.41 billion, a P/E ratio of 4.02 and a beta of 0.43. The firm's fifty day moving average price is $21.33 and its 200-day moving average price is $22.50.

JinkoSolar (NYSE:JKS - Get Free Report) last issued 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 firm had revenue of $3.31 billion for the quarter, compared to analysts' expectations of $3.85 billion. Analysts forecast that JinkoSolar Holding Co., Ltd. will post -0.42 earnings per share for the current year.

JinkoSolar Announces Dividend

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

Institutional Trading of JinkoSolar

Large investors have recently added to or reduced their stakes in the stock. Mackenzie Financial Corp boosted its holdings in JinkoSolar by 1.8% in 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. GSA Capital Partners LLP boosted its holdings in JinkoSolar by 372.9% in the first quarter. GSA Capital Partners LLP now owns 77,349 shares of the semiconductor company's stock valued at $1,948,000 after acquiring an additional 60,992 shares in the last quarter. Marshall Wace LLP boosted its holdings in JinkoSolar by 49.5% in the second quarter. Marshall Wace LLP now owns 447,709 shares of the semiconductor company's stock valued at $9,277,000 after acquiring an additional 148,268 shares in the last quarter. Millennium Management LLC boosted its holdings in JinkoSolar by 2,305.1% in 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. Finally, SG Americas Securities LLC lifted its position in JinkoSolar by 16.0% during the second quarter. SG Americas Securities LLC now owns 21,321 shares of the semiconductor company's stock valued at $442,000 after buying an additional 2,939 shares during the period. 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.

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