JinkoSolar (NYSE:JKS) Shares Gap Down – Should You Sell?

JinkoSolar Holding Co., Ltd. (NYSE:JKS)’s share price gapped down before the market opened 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.

Analysts Set New Price Targets

A number of research analysts have issued reports on the stock. StockNews.com raised shares of JinkoSolar from a “sell” rating to a “hold” rating in a research note on Wednesday, September 18th. Roth Mkm reduced their price objective on shares of JinkoSolar from $25.00 to $20.00 and set a “neutral” rating for the company in a report on Wednesday, September 4th. Finally, The Goldman Sachs Group lowered their target price on shares of JinkoSolar from $21.00 to $18.00 and set a “sell” rating on the stock in a research note on Tuesday, September 3rd. One investment 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 company has a consensus rating of “Hold” and an average price target of $24.60.

JinkoSolar Stock Up 4.9 %

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 company has a market cap of $1.35 billion, a P/E ratio of 3.95 and a beta of 0.43. The stock has a 50 day moving average price of $21.45 and a 200 day moving average price of $22.52.

JinkoSolar (NYSE:JKS) last issued its quarterly earnings results on Friday, August 30th. The semiconductor company reported $0.97 EPS for the quarter, topping the consensus estimate of $0.05 by $0.92. JinkoSolar had a net margin of 1.65% and a return on equity of 7.86%. The firm had revenue of $3.31 billion for the quarter, compared to analysts’ expectations of $3.85 billion. Research analysts expect that JinkoSolar Holding Co., Ltd. will post -0.42 earnings per share for the current fiscal year.

JinkoSolar Dividend Announcement

The firm also recently declared a Variable dividend, which was paid on Friday, August 30th. Shareholders of record on Thursday, August 15th were given a $1.50 dividend. The ex-dividend date was Thursday, August 15th. This represents a yield of 15.6%. JinkoSolar’s dividend payout ratio (DPR) is 46.18%.

Hedge Funds Weigh In On JinkoSolar

Hedge funds have recently modified their holdings of the stock. Signaturefd LLC boosted its position in shares of JinkoSolar by 108.0% in the 3rd quarter. Signaturefd LLC now owns 1,246 shares of the semiconductor company’s stock valued at $33,000 after purchasing an additional 647 shares during the period. Headlands Technologies LLC increased its position in shares of JinkoSolar by 607.7% in the second quarter. Headlands Technologies LLC now owns 4,048 shares of the semiconductor company’s stock worth $84,000 after acquiring an additional 3,476 shares in the last quarter. Daiwa Securities Group Inc. raised its holdings in shares of JinkoSolar by 117.1% during the first quarter. Daiwa Securities Group Inc. now owns 7,600 shares of the semiconductor company’s stock valued at $191,000 after acquiring an additional 4,100 shares during the period. Banco BTG Pactual S.A. purchased a new stake in shares of JinkoSolar in the 1st quarter valued at approximately $207,000. Finally, Harel Insurance Investments & Financial Services Ltd. boosted its stake in JinkoSolar by 43.3% in the 2nd quarter. Harel Insurance Investments & Financial Services Ltd. now owns 11,659 shares of the semiconductor company’s stock worth $242,000 after purchasing an additional 3,521 shares during the period. 35.82% of the stock is currently 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.