JinkoSolar Holding Co., Ltd. (NYSE:JKS) Given Average Recommendation of “Reduce” by Brokerages

JinkoSolar Holding Co., Ltd. (NYSE:JKS) has earned an average recommendation of “Reduce” from the six research firms that are covering the firm, Marketbeat Ratings reports. One equities research analyst has rated the stock with a sell recommendation and five have issued a hold recommendation on the company. The average 12-month price objective among brokers that have updated their coverage on the stock in the last year is $24.60.

A number of equities analysts recently weighed in on the stock. 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. Roth Mkm lowered their target price on shares of JinkoSolar from $25.00 to $20.00 and set a “neutral” rating for the company in a research note on Wednesday, September 4th. Finally, StockNews.com raised shares of JinkoSolar from a “sell” rating to a “hold” rating in a research note on Wednesday.

JinkoSolar Price Performance

Shares of NYSE JKS opened at $20.37 on Thursday. JinkoSolar has a twelve month low of $16.70 and a twelve month high of $38.65. The firm has a fifty day simple moving average of $19.76 and a 200 day simple moving average of $22.96. The company has a market capitalization of $1.08 billion, a PE ratio of 3.19 and a beta of 0.40. The company has a quick ratio of 0.79, a current ratio of 1.08 and a debt-to-equity ratio of 0.76.

JinkoSolar Dividend Announcement

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

Institutional Investors Weigh In On JinkoSolar

Several hedge funds and other institutional investors have recently bought and sold shares of JKS. Headlands Technologies LLC increased its position in shares of JinkoSolar by 607.7% during 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. Barometer Capital Management Inc. bought a new stake in shares of JinkoSolar during the fourth quarter worth about $126,000. Daiwa Securities Group Inc. increased its position 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 worth $191,000 after acquiring an additional 4,100 shares in the last quarter. Banco BTG Pactual S.A. bought a new stake in shares of JinkoSolar during the first quarter worth about $207,000. Finally, Harel Insurance Investments & Financial Services Ltd. increased its position in shares of JinkoSolar by 43.3% during the second quarter. Harel Insurance Investments & Financial Services Ltd. now owns 11,659 shares of the semiconductor company’s stock worth $242,000 after acquiring an additional 3,521 shares in the last quarter. 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.