JinkoSolar (NYSE:JKS) Sees Large Volume Increase – Still a Buy?

JinkoSolar Holding Co., Ltd. (NYSE:JKS) saw an uptick in trading volume on Wednesday . 707,024 shares traded hands during trading, a decline of 32% from the previous session’s volume of 1,034,735 shares.The stock last traded at $24.60 and had previously closed at $24.16.

Wall Street Analysts Forecast Growth

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

JinkoSolar Trading Up 9.7 %

The stock has a 50-day simple moving average of $21.33 and a two-hundred day simple moving average of $22.50. The company has a debt-to-equity ratio of 0.76, a quick ratio of 0.79 and a current ratio of 1.08. The firm has a market cap of $1.41 billion, a PE ratio of 4.02 and a beta of 0.43.

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

JinkoSolar Announces Dividend

The company also recently declared a Variable dividend, which was paid on Friday, August 30th. Shareholders of record on Thursday, August 15th were paid 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 currently 46.18%.

Institutional Investors Weigh In On JinkoSolar

A number of large investors have recently made changes to their positions in JKS. Mirae Asset Global Investments Co. Ltd. boosted its stake in JinkoSolar by 31.9% in the 1st quarter. Mirae Asset Global Investments Co. Ltd. now owns 51,588 shares of the semiconductor company’s stock worth $1,300,000 after purchasing an additional 12,464 shares during the period. Capstone Investment Advisors LLC boosted its stake in JinkoSolar by 81.6% in the 1st 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 period. Daiwa Securities Group Inc. boosted its stake in JinkoSolar by 117.1% in the 1st quarter. Daiwa Securities Group Inc. now owns 7,600 shares of the semiconductor company’s stock worth $191,000 after purchasing an additional 4,100 shares during the period. GSA Capital Partners LLP boosted its stake in JinkoSolar by 372.9% in the 1st quarter. GSA Capital Partners LLP now owns 77,349 shares of the semiconductor company’s stock worth $1,948,000 after purchasing an additional 60,992 shares during the period. Finally, Banco BTG Pactual S.A. bought a new position in JinkoSolar in the 1st quarter worth approximately $207,000. 35.82% of the stock is currently owned by institutional investors.

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.