JinkoSolar (NYSE:JKS) Shares Gap Up - Time to Buy?

JinkoSolar Holding Company Limited (NYSE:JKS - Get Free Report) gapped up prior to trading on Friday . The stock had previously closed at $20.67, but opened at $21.50. JinkoSolar shares last traded at $21.01, with a volume of 272,606 shares trading hands.

Analyst Upgrades and Downgrades

A number of brokerages recently issued reports on JKS. The Goldman Sachs Group reduced their price target on JinkoSolar from $20.00 to $18.00 and set a "sell" rating on the stock in a research report on Thursday, March 27th. Citigroup cut JinkoSolar from a "buy" rating to a "sell" rating in a research report on Monday, May 5th. Finally, UBS Group cut their price objective on shares of JinkoSolar from $25.00 to $22.00 and set a "neutral" rating for the company in a research report on Thursday, March 27th. Four equities research 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. Based on data from MarketBeat.com, the stock presently has an average rating of "Hold" and a consensus price target of $27.19.

JinkoSolar Stock Up 5.0%

The company has a market capitalization of $1.12 billion, a price-to-earnings ratio of -4.32 and a beta of 0.18. The company has a debt-to-equity ratio of 1.11, a current ratio of 1.33 and a quick ratio of 1.07. The firm's fifty day moving average price is $18.62 and its 200-day moving average price is $20.81.

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

JinkoSolar Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, July 16th. Investors of record on Wednesday, July 2nd will be issued a $0.325 dividend. The ex-dividend date is Wednesday, July 2nd. This represents a $1.30 dividend on an annualized basis and a yield of 5.99%. JinkoSolar's payout ratio is -29.48%.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the stock. New York State Common Retirement Fund acquired a new position in JinkoSolar in the fourth quarter valued at approximately $132,000. Bank of New York Mellon Corp grew its holdings 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 worth $1,032,000 after purchasing an additional 29,459 shares during the period. Capital Wealth Planning LLC bought a new stake in JinkoSolar in the fourth quarter valued at $752,000. SBI Securities Co. Ltd. bought a new position in shares of JinkoSolar during the 4th quarter worth about $119,000. Finally, Cornerstone Investment Partners LLC acquired a new stake in shares of JinkoSolar in the 4th quarter valued at about $231,000. 35.82% of the stock is owned by institutional investors and hedge funds.

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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