JinkoSolar (NYSE:JKS) PT Lowered to $18.00

JinkoSolar (NYSE:JKS) had its price target decreased by The Goldman Sachs Group from $21.00 to $18.00 in a research report sent to investors on Tuesday, Benzinga reports. The Goldman Sachs Group currently has a sell rating on the semiconductor company’s stock.

Separately, StockNews.com raised shares of JinkoSolar from a sell rating to a hold rating in a research report on Monday, September 2nd. One investment analyst has rated the stock with a sell rating and six have given a hold rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of Hold and a consensus target price of $24.60.

JinkoSolar Stock Down 1.8 %

Shares of JKS opened at $17.63 on Tuesday. The company’s 50-day simple moving average is $20.09 and its 200-day simple moving average is $23.36. The company has a debt-to-equity ratio of 0.56, a quick ratio of 0.77 and a current ratio of 1.03. JinkoSolar has a 1 year low of $16.70 and a 1 year high of $38.65. The stock has a market capitalization of $937.12 million, a PE ratio of 2.75 and a beta of 0.38.

JinkoSolar Announces Dividend

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

Institutional Trading of JinkoSolar

Several hedge funds have recently added to or reduced their stakes in JKS. National Bank of Canada FI raised its holdings in JinkoSolar by 494.1% in the fourth quarter. National Bank of Canada FI now owns 284,400 shares of the semiconductor company’s stock valued at $9,948,000 after acquiring an additional 236,526 shares in the last quarter. Decade Renewable Partners LP acquired a new stake in JinkoSolar in the second quarter valued at approximately $4,272,000. Millennium Management LLC raised its holdings in JinkoSolar by 2,305.1% in the second quarter. Millennium Management LLC now owns 168,911 shares of the semiconductor company’s stock valued at $3,500,000 after acquiring an additional 161,888 shares in the last quarter. Marshall Wace LLP raised its holdings in JinkoSolar by 49.5% in the second quarter. Marshall Wace LLP now owns 447,709 shares of the semiconductor company’s stock valued at $9,277,000 after acquiring an additional 148,268 shares in the last quarter. Finally, Point72 Europe London LLP purchased a new position in JinkoSolar in the second quarter valued at approximately $3,023,000. Institutional investors and hedge funds 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.