JinkoSolar (NYSE:JKS) Stock Price Passes Above 200 Day Moving Average - What's Next?

JinkoSolar Holding Company Limited (NYSE:JKS - Get Free Report)'s share price passed above its 200-day moving average during trading on Friday . The stock has a 200-day moving average of $20.44 and traded as high as $23.99. JinkoSolar shares last traded at $23.26, with a volume of 592,914 shares traded.

Wall Street Analyst Weigh In

Separately, Citigroup cut JinkoSolar from a "buy" rating to a "sell" rating in a research report on Monday, May 5th. Four research analysts have rated the stock with a sell rating, three have issued a hold rating and one has issued a buy rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of "Hold" and a consensus price target of $27.19.

JinkoSolar Stock Performance

The company has a market capitalization of $1.19 billion, a price-to-earnings ratio of -4.63 and a beta of 0.22. The stock has a 50-day moving average price of $20.98 and a 200-day moving average price of $20.44. The company has a debt-to-equity ratio of 1.11, a current ratio of 1.33 and a quick ratio of 1.07.

JinkoSolar (NYSE:JKS - Get Free Report) last released its quarterly earnings data on Tuesday, April 29th. The semiconductor company reported ($2.85) earnings per share (EPS) 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 business had revenue of $1.91 billion during the quarter, compared to analyst estimates of $1.89 billion. During the same period in the previous year, the business earned $1.34 earnings per share. The business's quarterly revenue was down 39.9% on a year-over-year basis. As a group, analysts forecast that JinkoSolar Holding Company Limited will post -0.24 earnings per share for the current year.

JinkoSolar Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, July 16th. Shareholders of record on Wednesday, July 2nd were given a dividend of $0.325 per share. The ex-dividend date of this dividend was Wednesday, July 2nd. This represents a $1.30 annualized dividend and a yield of 5.59%. JinkoSolar's dividend payout ratio (DPR) is presently -54.98%.

Institutional Trading of JinkoSolar

Hedge funds have recently added to or reduced their stakes in the company. Himension Capital Singapore PTE. LTD. lifted its holdings in JinkoSolar by 472.8% during the 4th quarter. Himension Capital Singapore PTE. LTD. now owns 55,175 shares of the semiconductor company's stock worth $1,374,000 after purchasing an additional 45,542 shares during the last quarter. Northern Trust Corp lifted its holdings in JinkoSolar by 58.6% during the 4th quarter. Northern Trust Corp now owns 84,252 shares of the semiconductor company's stock worth $2,098,000 after purchasing an additional 31,130 shares during the last quarter. Pictet Asset Management Holding SA acquired a new stake in JinkoSolar during the 4th quarter worth approximately $5,948,000. Millennium Management LLC acquired a new stake in JinkoSolar during the 4th quarter worth approximately $2,846,000. Finally, SG Americas Securities LLC lifted its holdings in JinkoSolar by 8.9% during the 1st quarter. SG Americas Securities LLC now owns 62,745 shares of the semiconductor company's stock worth $1,170,000 after purchasing an additional 5,110 shares during the last quarter. 35.82% of the stock is owned by institutional investors and hedge funds.

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.

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