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

Shares of JinkoSolar Holding Co., Ltd. (NYSE:JKS - Get Free Report) saw unusually-strong trading volume on Wednesday . Approximately 707,024 shares were traded 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 Upgrades and Downgrades

A number of equities research analysts have commented on the company. StockNews.com raised JinkoSolar from a "sell" rating to a "hold" rating in a report on Wednesday, September 18th. The Goldman Sachs Group dropped their price target on 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 reduced their price objective 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. One research analyst has rated the stock with a sell rating and six have issued a hold rating to the company. According to MarketBeat, JinkoSolar presently has an average rating of "Hold" and a consensus price target of $24.60.

JinkoSolar Stock Up 4.9 %

The business has a 50-day moving average price of $21.45 and a 200 day moving average price of $22.52. The stock has a market capitalization of $1.35 billion, a P/E ratio of 3.95 and a beta of 0.43. The company has a current ratio of 1.08, a quick ratio of 0.79 and a debt-to-equity ratio of 0.76.

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

JinkoSolar Dividend Announcement

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

Institutional Trading of JinkoSolar

A number of institutional investors have recently bought and sold shares of JKS. Mirae Asset Global Investments Co. Ltd. lifted its holdings in shares of JinkoSolar by 31.9% in the 1st quarter. Mirae Asset Global Investments Co. Ltd. now owns 51,588 shares of the semiconductor company's stock worth $1,300,000 after acquiring an additional 12,464 shares during the last quarter. Capstone Investment Advisors LLC grew its stake in shares of JinkoSolar by 81.6% during the first quarter. Capstone Investment Advisors LLC now owns 29,625 shares of the semiconductor company's stock valued at $746,000 after buying an additional 13,314 shares during the last quarter. Daiwa Securities Group Inc. raised its holdings in shares of JinkoSolar by 117.1% in the first 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 period. GSA Capital Partners LLP lifted its stake 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 acquiring an additional 60,992 shares during the last quarter. Finally, Banco BTG Pactual S.A. purchased a new position in JinkoSolar during the 1st quarter valued at $207,000. 35.82% of the stock is currently owned by institutional investors.

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.