JinkoSolar Sees Unusually Large Options Volume (NYSE:JKS)

JinkoSolar Holding Co., Ltd. (NYSE:JKS) was the recipient of unusually large options trading activity on Friday. Stock investors bought 4,373 call options on the stock. This is an increase of 300% compared to the average volume of 1,092 call options.

JinkoSolar Stock Up 14.8 %

JKS stock opened at $29.94 on Friday. The business’s 50 day simple moving average is $20.11 and its 200 day simple moving average is $22.63. JinkoSolar has a 1-year low of $16.70 and a 1-year high of $38.65. The firm has a market capitalization of $1.59 billion, a PE ratio of 4.67 and a beta of 0.43. The company has a current ratio of 1.08, a quick ratio of 0.79 and a debt-to-equity ratio of 0.76.

JinkoSolar (NYSE:JKS) last issued its quarterly earnings data on Friday, August 30th. The semiconductor company reported $0.97 earnings per share for the quarter, beating the consensus estimate of $0.05 by $0.92. The company had revenue of $3.31 billion for the quarter, compared to analyst estimates of $3.85 billion. JinkoSolar had a net margin of 1.65% and a return on equity of 7.86%. As a group, research analysts anticipate that JinkoSolar will post -0.42 EPS for the current year.

JinkoSolar Dividend Announcement

The company also recently disclosed 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 was Thursday, August 15th. JinkoSolar’s dividend payout ratio is presently 46.18%.

Hedge Funds Weigh In On JinkoSolar

Several institutional investors and hedge funds have recently made changes to their positions in the company. Mackenzie Financial Corp boosted its stake in 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 during the period. GSA Capital Partners LLP boosted its position in shares of JinkoSolar by 372.9% in the first quarter. GSA Capital Partners LLP now owns 77,349 shares of the semiconductor company’s stock valued at $1,948,000 after acquiring an additional 60,992 shares during the period. Marshall Wace LLP grew its stake 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 valued at $9,277,000 after acquiring an additional 148,268 shares in the last quarter. SG Americas Securities LLC increased its position in JinkoSolar by 16.0% during the second quarter. SG Americas Securities LLC now owns 21,321 shares of the semiconductor company’s stock worth $442,000 after acquiring an additional 2,939 shares during the period. Finally, Decade Renewable Partners LP acquired a new stake in JinkoSolar in the 2nd quarter worth about $4,272,000. Institutional investors and hedge funds own 35.82% of the company’s stock.

Wall Street Analyst Weigh In

Several research analysts recently commented on the company. StockNews.com raised JinkoSolar from a “sell” rating to a “hold” rating in a research report on Wednesday, September 18th. Roth Mkm decreased 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, 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 report on Tuesday, September 3rd. One investment analyst has rated the stock with a sell rating and six have assigned a hold rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Hold” and an average target price of $24.60.

JinkoSolar Company Profile

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.