JinkoSolar (NYSE:JKS) Share Price Passes Above 200 Day Moving Average - Time to Sell?

Key Points

• JinkoSolar's stock price has recently surpassed its 200-day moving average, trading at $22.02 after reaching a high of $22.56, indicating positive momentum.
• Citigroup has downgraded JinkoSolar from a "buy" rating to a "sell" rating, with four analysts recommending a sell and only one a buy, resulting in a consensus rating of "Hold".
• The company has announced a quarterly dividend of $0.325 per share, representing an annualized dividend yield of 5.9% despite a negative payout ratio.

JinkoSolar Holding Company Limited (NYSE:JKS - Get Free Report) passed above its two hundred day moving average during trading on Monday . The stock has a two hundred day moving average of $20.35 and traded as high as $22.56. JinkoSolar shares last traded at $22.02, with a volume of 277,906 shares changing hands.

Analyst Ratings Changes

Separately, Citigroup lowered JinkoSolar from a "buy" rating to a "sell" rating in a research note on Monday, May 5th. Four analysts have rated the stock with a sell rating, three have issued a hold rating and one has assigned a buy rating to the company. According to MarketBeat.com, JinkoSolar currently has a consensus rating of "Hold" and an average target price of $27.19.

JinkoSolar Stock Performance

The company has a market cap of $1.13 billion, a PE ratio of -4.39 and a beta of 0.21. The company has a current ratio of 1.33, a quick ratio of 1.07 and a debt-to-equity ratio of 1.11. The business has a fifty day moving average of $21.78 and a 200-day moving average of $20.35.

JinkoSolar Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, July 16th. Shareholders of record on Wednesday, July 2nd were issued a dividend of $0.325 per share. The ex-dividend date was Wednesday, July 2nd. This represents a $1.30 dividend on an annualized basis and a dividend yield of 5.9%. JinkoSolar's dividend payout ratio is -54.98%.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently made changes to their positions in JKS. Greenwoods Asset Management Hong Kong Ltd. grew its holdings in shares of JinkoSolar by 37.0% during the 1st quarter. Greenwoods Asset Management Hong Kong Ltd. now owns 780,933 shares of the semiconductor company's stock worth $14,557,000 after acquiring an additional 211,000 shares during the period. Invesco Ltd. grew its stake in shares of JinkoSolar by 15.3% in the 1st quarter. Invesco Ltd. now owns 1,418,425 shares of the semiconductor company's stock worth $26,439,000 after buying an additional 187,930 shares during the last quarter. Hussman Strategic Advisors Inc. purchased a new stake in shares of JinkoSolar in the 1st quarter worth approximately $2,349,000. Balyasny Asset Management L.P. grew its stake in shares of JinkoSolar by 1,592.4% in the 4th quarter. Balyasny Asset Management L.P. now owns 129,385 shares of the semiconductor company's stock worth $3,222,000 after buying an additional 121,740 shares during the last quarter. Finally, Millennium Management LLC purchased a new stake in shares of JinkoSolar in the 4th quarter worth approximately $2,846,000. 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.

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