JinkoSolar (NYSE:JKS) PT Lowered to $20.00 at Roth Mkm

JinkoSolar (NYSE:JKS) had its price target cut by Roth Mkm from $25.00 to $20.00 in a report published on Wednesday morning, Benzinga reports. They currently have a neutral rating on the semiconductor company’s stock.

Several other research firms have also commented on JKS. StockNews.com upgraded JinkoSolar from a sell rating to a hold rating in a research note on Monday, September 2nd. The Goldman Sachs Group dropped their target price on JinkoSolar from $21.00 to $18.00 and set a sell rating for the company in a research note on Tuesday. One equities research analyst has rated the stock with a sell rating and six have issued a hold rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of Hold and an average price target of $24.60.

JinkoSolar Stock Performance

NYSE JKS opened at $17.63 on Wednesday. JinkoSolar has a fifty-two week low of $16.70 and a fifty-two week high of $38.65. The stock has a market cap of $937.12 million, a price-to-earnings ratio of 2.75 and a beta of 0.38. The business has a fifty day moving average of $20.09 and a 200-day moving average of $23.36. The company has a quick ratio of 0.77, a current ratio of 1.03 and a debt-to-equity ratio of 0.56.

JinkoSolar Dividend Announcement

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

Institutional Investors Weigh In On JinkoSolar

Several institutional investors and hedge funds have recently modified their holdings of JKS. National Bank of Canada FI boosted its position in shares of JinkoSolar by 494.1% in the fourth quarter. National Bank of Canada FI now owns 284,400 shares of the semiconductor company’s stock worth $9,948,000 after buying an additional 236,526 shares during the period. Decade Renewable Partners LP purchased a new stake in shares of JinkoSolar in the second quarter worth about $4,272,000. Millennium Management LLC boosted its position in shares of JinkoSolar by 2,305.1% in the second quarter. Millennium Management LLC now owns 168,911 shares of the semiconductor company’s stock worth $3,500,000 after buying an additional 161,888 shares during the period. Marshall Wace LLP boosted its position in shares of JinkoSolar by 49.5% in the second quarter. Marshall Wace LLP now owns 447,709 shares of the semiconductor company’s stock worth $9,277,000 after buying an additional 148,268 shares during the period. Finally, Point72 Europe London LLP purchased a new stake in shares of JinkoSolar in the second quarter worth about $3,023,000. Hedge funds and other institutional investors own 35.82% of the company’s stock.

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.