JinkoSolar (NYSE:JKS) Shares Down 4.1%

JinkoSolar Holding Co., Ltd. (NYSE:JKS) shares fell 4.1% during trading on Monday . The company traded as low as $18.41 and last traded at $18.70. 202,494 shares were traded during trading, a decline of 77% from the average session volume of 861,775 shares. The stock had previously closed at $19.49.

Wall Street Analyst Weigh In

A number of equities research analysts recently issued reports on JKS shares. StockNews.com downgraded JinkoSolar from a “hold” rating to a “sell” rating in a research report on Tuesday. Roth Mkm reiterated a “neutral” rating and set a $25.00 price target on shares of JinkoSolar in a research report on Tuesday, April 30th. Two equities research analysts have rated the stock with a sell rating and five have assigned a hold rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and an average price target of $26.60.

JinkoSolar Stock Performance

The company has a debt-to-equity ratio of 0.56, a current ratio of 1.03 and a quick ratio of 0.77. The company has a 50 day simple moving average of $21.24 and a 200-day simple moving average of $24.04. The stock has a market cap of $1.01 billion, a P/E ratio of 2.98 and a beta of 0.38.

JinkoSolar Dividend Announcement

The firm also recently declared a Variable dividend, which will be paid on Friday, August 30th. Shareholders of record on Thursday, August 15th will be paid a $1.50 dividend. This represents a yield of 15.6%. The ex-dividend date is Thursday, August 15th. JinkoSolar’s dividend payout ratio is presently 46.18%.

Institutional Inflows and Outflows

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