Hussman Strategic Advisors Inc. Invests $2.35 Million in JinkoSolar Holding Company Limited (NYSE:JKS)

Hussman Strategic Advisors Inc. acquired a new position in shares of JinkoSolar Holding Company Limited (NYSE:JKSFree Report) in the 1st quarter, according to its most recent Form 13F filing with the SEC. The firm acquired 126,000 shares of the semiconductor company’s stock, valued at approximately $2,349,000. Hussman Strategic Advisors Inc. owned approximately 0.24% of JinkoSolar as of its most recent SEC filing.

Several other large investors have also modified their holdings of JKS. Bank of New York Mellon Corp boosted its stake in shares of JinkoSolar by 245.8% during the 4th quarter. Bank of New York Mellon Corp now owns 41,445 shares of the semiconductor company’s stock worth $1,032,000 after acquiring an additional 29,459 shares in the last quarter. AI Squared Management Ltd bought a new stake in shares of JinkoSolar during the 4th quarter worth $2,336,000. Mitsubishi UFJ Asset Management Co. Ltd. boosted its position in shares of JinkoSolar by 5.3% in the fourth quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 20,289 shares of the semiconductor company’s stock worth $532,000 after buying an additional 1,028 shares during the period. Pictet Asset Management Holding SA acquired a new stake in shares of JinkoSolar in the fourth quarter worth $5,948,000. Finally, Trexquant Investment LP acquired a new stake in shares of JinkoSolar in the fourth quarter worth $341,000. 35.82% of the stock is owned by institutional investors.

JinkoSolar Stock Down 0.8%

Shares of NYSE:JKS traded down $0.20 during midday trading on Friday, hitting $23.00. 70,666 shares of the stock were exchanged, compared to its average volume of 823,134. The company has a debt-to-equity ratio of 1.11, a quick ratio of 1.07 and a current ratio of 1.33. JinkoSolar Holding Company Limited has a 52-week low of $13.42 and a 52-week high of $37.36. The business’s fifty day simple moving average is $20.44 and its two-hundred day simple moving average is $20.53. The company has a market capitalization of $1.18 billion, a PE ratio of -4.58 and a beta of 0.22.

JinkoSolar (NYSE:JKSGet Free Report) last announced its quarterly earnings data on Tuesday, April 29th. The semiconductor company reported ($2.85) earnings per share (EPS) for the quarter, missing the consensus estimate of ($1.45) by ($1.40). JinkoSolar had a negative return on equity of 2.95% and a negative net margin of 2.23%. The firm had revenue of $1.91 billion for the quarter, compared to analysts’ expectations of $1.89 billion. During the same quarter in the prior year, the business posted $1.34 earnings per share. JinkoSolar’s revenue was down 39.9% on a year-over-year basis. As a group, research analysts predict that JinkoSolar Holding Company Limited will post -0.24 earnings per share for the current fiscal year.

JinkoSolar Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, July 16th. Investors of record on Wednesday, July 2nd were issued a dividend of $0.325 per share. The ex-dividend date was Wednesday, July 2nd. This represents a $1.30 annualized dividend and a dividend yield of 5.65%. JinkoSolar’s dividend payout ratio is -54.98%.

Analyst Upgrades and Downgrades

Several brokerages have recently commented on JKS. Citigroup cut JinkoSolar from a “buy” rating to a “sell” rating in a research report on Monday, May 5th. UBS Group decreased their target price on JinkoSolar from $25.00 to $22.00 and set a “neutral” rating for the company in a research report on Thursday, March 27th. Finally, The Goldman Sachs Group decreased their target price on JinkoSolar from $20.00 to $18.00 and set a “sell” rating for the company in a research report on Thursday, March 27th. Four analysts have rated the stock with a sell rating, three have assigned a hold rating and one has assigned a buy rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus price target of $27.19.

Read Our Latest Research Report on JKS

JinkoSolar Company Profile

(Free Report)

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.

See Also

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Institutional Ownership by Quarter for JinkoSolar (NYSE:JKS)

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