JinkoSolar (NYSE:JKS) Raised to “Hold” at StockNews.com

StockNews.com upgraded shares of JinkoSolar (NYSE:JKS) from a sell rating to a hold rating in a research note released on Wednesday.

Several other analysts have also recently weighed in on JKS. The Goldman Sachs Group dropped their price objective 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. Roth Mkm dropped their price target on shares of JinkoSolar from $25.00 to $20.00 and set a neutral rating for the company in a research report on Wednesday, September 4th. One investment analyst has rated the stock with a sell rating and six have issued a hold rating to the stock. According to MarketBeat, JinkoSolar has an average rating of Hold and an average price target of $24.60.

JinkoSolar Stock Down 1.0 %

JKS stock opened at $19.74 on Wednesday. JinkoSolar has a fifty-two week low of $16.70 and a fifty-two week high of $38.65. The company has a debt-to-equity ratio of 0.76, a current ratio of 1.08 and a quick ratio of 0.79. The stock has a market capitalization of $1.05 billion, a price-to-earnings ratio of 3.08 and a beta of 0.40. The business’s fifty day moving average price is $19.60 and its two-hundred day moving average price is $22.85.

JinkoSolar Announces Dividend

The company also recently declared 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. This represents a dividend yield of 15.6%. The ex-dividend date of this dividend was Thursday, August 15th. JinkoSolar’s dividend payout ratio (DPR) is presently 46.18%.

Institutional Inflows and Outflows

A number of hedge funds have recently added to or reduced their stakes in JKS. Mackenzie Financial Corp boosted its holdings in shares of JinkoSolar by 1.8% in the 2nd quarter. Mackenzie Financial Corp now owns 2,572,177 shares of the semiconductor company’s stock valued at $53,296,000 after purchasing an additional 44,661 shares in the last quarter. Vanguard Group Inc. boosted its stake in JinkoSolar by 0.9% in the first quarter. Vanguard Group Inc. now owns 1,591,101 shares of the semiconductor company’s stock valued at $40,080,000 after buying an additional 14,491 shares in the last quarter. Dimensional Fund Advisors LP grew its position in JinkoSolar by 8.2% in the second quarter. Dimensional Fund Advisors LP now owns 981,492 shares of the semiconductor company’s stock valued at $20,357,000 after acquiring an additional 74,219 shares during the last quarter. Marshall Wace LLP raised its stake in JinkoSolar by 49.5% during the second quarter. Marshall Wace LLP now owns 447,709 shares of the semiconductor company’s stock worth $9,277,000 after acquiring an additional 148,268 shares in the last quarter. Finally, Decade Renewable Partners LP bought a new position in shares of JinkoSolar in the second quarter worth about $4,272,000. 35.82% of the stock is 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.