StockNews.com lowered shares of JinkoSolar (NYSE:JKS – Free Report) from a hold rating to a sell rating in a research report report published on Tuesday.
Several other equities analysts have also recently issued reports on the company. The Goldman Sachs Group decreased their price objective on 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 decreased their price target 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. Two analysts have rated the stock with a sell rating and five have given a hold rating to the stock. According to data from MarketBeat.com, JinkoSolar presently has a consensus rating of Hold and a consensus target price of $24.60.
Read Our Latest Research Report on JinkoSolar
JinkoSolar Stock Down 0.7 %
JinkoSolar Announces Dividend
The business also recently announced a Variable dividend, which was paid on Friday, August 30th. Stockholders of record on Thursday, August 15th were issued a $1.50 dividend. This represents a dividend yield of 15.6%. The ex-dividend date was Thursday, August 15th. JinkoSolar’s payout ratio is 46.18%.
Institutional Investors Weigh In On JinkoSolar
Institutional investors and hedge funds have recently bought and sold shares of the stock. Decade Renewable Partners LP acquired a new position in JinkoSolar in the second quarter valued at $4,272,000. Millennium Management LLC lifted its holdings in shares of JinkoSolar by 2,305.1% in the 2nd quarter. Millennium Management LLC now owns 168,911 shares of the semiconductor company’s stock valued at $3,500,000 after purchasing an additional 161,888 shares during the last quarter. Marshall Wace LLP boosted its position in shares of JinkoSolar by 49.5% in the 2nd quarter. Marshall Wace LLP now owns 447,709 shares of the semiconductor company’s stock valued at $9,277,000 after purchasing an additional 148,268 shares during the period. Point72 Europe London LLP purchased a new position in JinkoSolar during the 2nd quarter worth approximately $3,023,000. Finally, Dimensional Fund Advisors LP increased its position in JinkoSolar by 16.3% during the fourth quarter. Dimensional Fund Advisors LP now owns 661,563 shares of the semiconductor company’s stock worth $24,445,000 after buying an additional 92,737 shares during the period. 35.82% of the stock is owned by hedge funds and other 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.
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