JinkoSolar (NYSE:JKS) Shares Up 11.9% - What's Next?

JinkoSolar Holding Company Limited (NYSE:JKS - Get Free Report)'s share price rose 11.9% on Wednesday . The stock traded as high as $23.09 and last traded at $22.70. Approximately 595,078 shares changed hands during mid-day trading, a decline of 42% from the average daily volume of 1,030,062 shares. The stock had previously closed at $20.29.

Analyst Ratings Changes

JKS has been the topic of a number of research reports. The Goldman Sachs Group decreased their price target on JinkoSolar from $20.00 to $18.00 and set a "sell" rating on the stock in a research note on Thursday, March 27th. UBS Group decreased their target price on JinkoSolar from $25.00 to $22.00 and set a "neutral" rating on the stock in a research note on Thursday, March 27th. Finally, Citigroup downgraded JinkoSolar from a "buy" rating to a "sell" rating in a research report on Monday, May 5th. Four equities research analysts have rated the stock with a sell rating, three have issued a hold rating and one has given a buy rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of "Hold" and an average price target of $27.19.

JinkoSolar Stock Up 2.8%

The business's 50 day moving average is $19.32 and its 200-day moving average is $20.61. 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 company has a market cap of $1.24 billion, a PE ratio of -4.81 and a beta of 0.22.

JinkoSolar (NYSE:JKS - Get Free Report) last issued its quarterly earnings results 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 return on equity of 2.95% and a negative net margin of 2.23%. The firm had revenue of $1.91 billion during the quarter, compared to analysts' expectations of $1.89 billion. During the same quarter in the prior year, the firm earned $1.34 EPS. The firm's revenue was down 39.9% compared to the same quarter last year. As a group, analysts predict that JinkoSolar Holding Company Limited will post -0.24 EPS for the current year.

JinkoSolar Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, July 16th. Investors of record on Wednesday, July 2nd will be paid a $0.325 dividend. The ex-dividend date of this dividend is Wednesday, July 2nd. This represents a $1.30 dividend on an annualized basis and a yield of 5.38%. JinkoSolar's dividend payout ratio is currently -54.98%.

Institutional Inflows and Outflows

A number of institutional investors have recently added to or reduced their stakes in the company. Banque Cantonale Vaudoise acquired a new stake in JinkoSolar during the first quarter worth approximately $36,000. CANADA LIFE ASSURANCE Co acquired a new stake in JinkoSolar during the fourth quarter worth approximately $55,000. Caitong International Asset Management Co. Ltd raised its holdings in JinkoSolar by 502.4% during the first quarter. Caitong International Asset Management Co. Ltd now owns 5,470 shares of the semiconductor company's stock worth $102,000 after purchasing an additional 4,562 shares in the last quarter. SBI Securities Co. Ltd. acquired a new stake in JinkoSolar during the fourth quarter worth approximately $119,000. Finally, Jump Financial LLC acquired a new stake in JinkoSolar during the fourth quarter worth approximately $200,000. 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.