JinkoSolar (NYSE:JKS) Trading Down 4.7% - What's Next?

Key Points

• JinkoSolar shares fell 4.7% in mid-day trading to about $15.40, on volume roughly 69% below the average. The stock remains below its 50-day and 200-day moving averages.
• Analyst sentiment is mixed but centers on a “Hold” consensus, with a $24.38 average price target. UBS raised its target to $24 while maintaining a neutral rating, whereas Weiss Ratings reiterated a sell rating.
• Institutional investors increased their positions, and hedge funds and institutions collectively own 35.82% of the company. However, a company director recently sold 16,000 shares, reducing his ownership by 8.6%.

JinkoSolar Holding Company Limited (NYSE:JKS - Get Free Report)'s share price was down 4.7% during mid-day trading on Tuesday . The company traded as low as $15.41 and last traded at $15.3960. Approximately 218,949 shares were traded during mid-day trading, a decline of 69% from the average daily volume of 700,547 shares. The stock had previously closed at $16.16.

Analyst Ratings Changes

JKS has been the subject of several research reports. UBS Group raised their price objective on shares of JinkoSolar from $23.00 to $24.00 and gave the company a "neutral" rating in a research report on Friday, May 29th. Wall Street Zen upgraded shares of JinkoSolar from a "sell" rating to a "hold" rating in a research report on Saturday, May 2nd. Finally, Weiss Ratings reissued a "sell (d)" rating on shares of JinkoSolar in a research note on Monday, August 3rd. One equities research analyst has rated the stock with a Strong Buy rating, one has assigned a Buy rating, three have issued a Hold rating and two have given a Sell rating to the company. According to MarketBeat, the company has a consensus rating of "Hold" and a consensus price target of $24.38.

JinkoSolar Stock Performance

The company has a quick ratio of 0.95, a current ratio of 1.26 and a debt-to-equity ratio of 1.16. The stock has a market cap of $810.95 million, a P/E ratio of -1.59 and a beta of 0.52. The stock has a fifty day simple moving average of $16.39 and a 200-day simple moving average of $21.36.

JinkoSolar Dividend Announcement

The company also recently disclosed an annual dividend, which was paid on Thursday, July 9th. Investors of record on Monday, June 22nd were paid a dividend of $1.50 per share. The ex-dividend date of this dividend was Monday, June 22nd. This represents a yield of 837.0%. JinkoSolar's dividend payout ratio (DPR) is presently -15.20%.

Insider Transactions at JinkoSolar

In other JinkoSolar news, Director Wing Keong Siew sold 16,000 shares of the company's stock in a transaction that occurred on Tuesday, June 30th. The shares were sold at an average price of $16.49, for a total value of $263,840.00. Following the completion of the sale, the director owned 170,000 shares of the company's stock, valued at approximately $2,803,300. This represents a 8.60% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Corporate insiders own 19.80% of the company's stock.

Hedge Funds Weigh In On JinkoSolar

Several institutional investors and hedge funds have recently made changes to their positions in JKS. Renaissance Technologies LLC raised its stake in JinkoSolar by 96.2% during the 1st quarter. Renaissance Technologies LLC now owns 82,200 shares of the semiconductor company's stock worth $2,089,000 after buying an additional 40,300 shares during the period. Cetera Investment Advisers acquired a new position in JinkoSolar in the first quarter valued at about $307,000. Himension Capital Singapore PTE. LTD. increased its holdings in shares of JinkoSolar by 5.1% in the first quarter. Himension Capital Singapore PTE. LTD. now owns 82,319 shares of the semiconductor company's stock worth $2,092,000 after acquiring an additional 3,961 shares in the last quarter. Dimensional Fund Advisors LP increased its holdings in shares of JinkoSolar by 0.4% in the first quarter. Dimensional Fund Advisors LP now owns 845,017 shares of the semiconductor company's stock worth $21,449,000 after acquiring an additional 3,118 shares in the last quarter. Finally, Hsbc Holdings PLC raised its position in shares of JinkoSolar by 355.9% during the first quarter. Hsbc Holdings PLC now owns 189,569 shares of the semiconductor company's stock worth $4,817,000 after purchasing an additional 147,992 shares during the period. Institutional investors and hedge funds own 35.82% of the company's stock.

JinkoSolar Company Profile

JinkoSolar Holding Co, Ltd. NYSE: JKS is a vertically integrated solar photovoltaic (PV) manufacturer headquartered in Shanghai, China. The company specializes in the design, development and production of high-performance solar modules, silicon wafers, solar cells and related components. Since its founding in 2006, JinkoSolar has become one of the world's largest solar module suppliers, known for delivering reliable products to utility, commercial and residential customers.

JinkoSolar's product portfolio encompasses a broad range of monocrystalline and polycrystalline PV modules, including half-cell, bifacial and high-efficiency Tiger module series.

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