JinkoSolar Holding Company Limited (NYSE:JKS) Shares Sold by Vontobel Holding Ltd.

Vontobel Holding Ltd. reduced its holdings in JinkoSolar Holding Company Limited (NYSE:JKS - Free Report) by 37.3% in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 29,170 shares of the semiconductor company's stock after selling 17,381 shares during the quarter. Vontobel Holding Ltd. owned 0.05% of JinkoSolar worth $544,000 at the end of the most recent reporting period.

Several other large investors also recently modified their holdings of JKS. Bank of New York Mellon Corp grew its stake in JinkoSolar by 245.8% in the fourth quarter. Bank of New York Mellon Corp now owns 41,445 shares of the semiconductor company's stock valued at $1,032,000 after purchasing an additional 29,459 shares in the last quarter. AI Squared Management Ltd bought a new position in JinkoSolar during the 4th quarter worth $2,336,000. Mitsubishi UFJ Asset Management Co. Ltd. increased its stake in JinkoSolar by 5.3% during the 4th quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 20,289 shares of the semiconductor company's stock worth $532,000 after acquiring an additional 1,028 shares during the period. Pictet Asset Management Holding SA bought a new stake in JinkoSolar during the fourth quarter worth $5,948,000. Finally, Trexquant Investment LP acquired a new position in JinkoSolar during the fourth quarter worth about $341,000. 35.82% of the stock is currently owned by institutional investors.

JinkoSolar Stock Up 0.8%

Shares of JKS traded up $0.18 on Tuesday, hitting $24.10. 2,049,799 shares of the stock traded hands, compared to its average volume of 1,047,602. The company has a debt-to-equity ratio of 1.11, a quick ratio of 1.07 and a current ratio of 1.33. JinkoSolar Holding Company Limited has a one year low of $13.42 and a one year high of $37.36. The company has a market capitalization of $1.24 billion, a PE ratio of -4.80 and a beta of 0.22. The business has a 50 day simple moving average of $19.45 and a 200 day simple moving average of $20.55.

JinkoSolar (NYSE:JKS - Get Free Report) last posted its quarterly earnings data on Tuesday, April 29th. The semiconductor company reported ($2.85) earnings per share for the quarter, missing analysts' consensus estimates of ($1.45) by ($1.40). JinkoSolar had a negative net margin of 2.23% and a negative return on equity of 2.95%. The company had revenue of $1.91 billion for the quarter, compared to analysts' expectations of $1.89 billion. During the same period in the previous year, the firm earned $1.34 earnings per share. The firm's quarterly revenue was down 39.9% on a year-over-year basis. As a group, equities analysts forecast that JinkoSolar Holding Company Limited will post -0.24 earnings per share for the current fiscal year.

JinkoSolar Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, July 16th. Stockholders of record on Wednesday, July 2nd will be given a dividend of $0.325 per share. This represents a $1.30 annualized dividend and a dividend yield of 5.39%. The ex-dividend date of this dividend is Wednesday, July 2nd. JinkoSolar's dividend payout ratio is -54.98%.

Analyst Upgrades and Downgrades

Several research analysts have commented on JKS shares. UBS Group cut their target price on JinkoSolar from $25.00 to $22.00 and set a "neutral" rating on the stock in a report on Thursday, March 27th. The Goldman Sachs Group decreased their price objective on JinkoSolar from $20.00 to $18.00 and set a "sell" rating for the company in a report on Thursday, March 27th. Finally, Citigroup lowered JinkoSolar from a "buy" rating to a "sell" rating in a report on Monday, May 5th. Four analysts have rated the stock with a sell rating, three have given a hold rating and one has assigned a buy rating to the company's stock. According to MarketBeat, JinkoSolar currently has an average rating of "Hold" and an average target price of $27.19.

JinkoSolar 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.