JinkoSolar (NYSE:JKS) Shares Gap Down – What’s Next?

Shares of JinkoSolar Holding Co., Ltd. (NYSE:JKS) gapped down prior to trading on Tuesday . The stock had previously closed at $27.70, but opened at $25.90. JinkoSolar shares last traded at $24.76, with a volume of 970,000 shares changing hands.

Wall Street Analysts Forecast Growth

A number of research firms have weighed in on JKS. StockNews.com raised shares of JinkoSolar from a “sell” rating to a “hold” rating in a research report on Wednesday, September 18th. The Goldman Sachs Group lowered their target price on shares of JinkoSolar from $21.00 to $18.00 and set a “sell” rating for the company in a research note on Tuesday, September 3rd. Finally, Roth Mkm cut their price target on shares of JinkoSolar from $25.00 to $20.00 and set a “neutral” rating on the stock in a research report on Wednesday, September 4th. One equities research analyst has rated the stock with a sell rating and six have issued a hold rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and an average price target of $24.60.

JinkoSolar Stock Performance

The company has a quick ratio of 0.79, a current ratio of 1.08 and a debt-to-equity ratio of 0.76. The firm has a market capitalization of $1.29 billion, a P/E ratio of 3.80 and a beta of 0.43. The company’s 50 day moving average is $21.23 and its 200-day moving average is $22.49.

JinkoSolar (NYSE:JKS) last announced its quarterly earnings data on Friday, August 30th. The semiconductor company reported $0.97 earnings per share for the quarter, beating the consensus estimate of $0.05 by $0.92. The firm had revenue of $3.31 billion for the quarter, compared to analyst estimates of $3.85 billion. JinkoSolar had a net margin of 1.65% and a return on equity of 7.86%. As a group, equities analysts anticipate that JinkoSolar Holding Co., Ltd. will post -0.42 EPS for the current year.

JinkoSolar Announces Dividend

The company also recently disclosed a Variable dividend, which was paid on Friday, August 30th. Stockholders of record on Thursday, August 15th were issued a dividend of $1.50 per share. The ex-dividend date of this dividend was Thursday, August 15th. This represents a dividend yield of 15.6%. JinkoSolar’s dividend payout ratio is 46.18%.

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of the business. Mirae Asset Global Investments Co. Ltd. increased its position in shares of JinkoSolar by 31.9% during the first quarter. Mirae Asset Global Investments Co. Ltd. now owns 51,588 shares of the semiconductor company’s stock worth $1,300,000 after acquiring an additional 12,464 shares in the last quarter. Capstone Investment Advisors LLC raised its stake in shares of JinkoSolar by 81.6% in the first quarter. Capstone Investment Advisors LLC now owns 29,625 shares of the semiconductor company’s stock worth $746,000 after purchasing an additional 13,314 shares during the last quarter. Daiwa Securities Group Inc. lifted its holdings in shares of JinkoSolar by 117.1% in the first quarter. Daiwa Securities Group Inc. now owns 7,600 shares of the semiconductor company’s stock valued at $191,000 after purchasing an additional 4,100 shares in the last quarter. GSA Capital Partners LLP boosted its position in shares of JinkoSolar by 372.9% during the first quarter. GSA Capital Partners LLP now owns 77,349 shares of the semiconductor company’s stock valued at $1,948,000 after buying an additional 60,992 shares during the last quarter. Finally, Banco BTG Pactual S.A. bought a new stake in JinkoSolar during the first quarter worth $207,000. Institutional investors and hedge funds 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.