Zacks Investment Research upgraded shares of Hanwha Q Cells Co. Ltd. (NASDAQ:HQCL) from a hold rating to a buy rating in a research report released on Friday. They currently have $13.00 price objective on the stock.
According to Zacks, “Hanwha Q CELLS Co., Ltd. is a photovoltaic manufacturer for solar cells and modules. The company offers the full spectrum of photovoltaic products, applications and solutions, from modules to kits to systems to large scale solar power plants. It operates primarily in Europe, North America, Asia, South America, Africa and the Middle East. Hanwha Q CELLS Co. Ltd., formerly known as Hanwha SolarOne Co. Ltd., is headquartered in Seoul, South Korea. “
Separately, Roth Capital lowered Hanwha Q Cells Co. from a buy rating to a neutral rating in a research note on Friday, August 5th.
Shares of Hanwha Q Cells Co. (NASDAQ:HQCL) traded down 1.05% during trading on Friday, hitting $11.26. The company had a trading volume of 562 shares. Hanwha Q Cells Co. has a 12-month low of $10.35 and a 12-month high of $28.87. The stock has a 50-day moving average of $11.51 and a 200 day moving average of $12.87. The stock has a market capitalization of $936.63 million, a price-to-earnings ratio of 5.13 and a beta of 2.21.
Hanwha Q Cells Co. (NASDAQ:HQCL) last announced its quarterly earnings results on Tuesday, August 23rd. The company reported $0.92 EPS for the quarter, beating the Zacks’ consensus estimate of $0.48 by $0.44. Hanwha Q Cells Co. had a return on equity of 42.12% and a net margin of 8.03%. The firm had revenue of $638 million for the quarter, compared to analyst estimates of $646 million. During the same period last year, the firm posted ($0.17) earnings per share. The business’s revenue for the quarter was up 88.8% on a year-over-year basis. On average, analysts predict that Hanwha Q Cells Co. will post $1.67 EPS for the current fiscal year.
Institutional investors have recently modified their holdings of the company. Barclays PLC bought a new position in shares of Hanwha Q Cells Co. during the first quarter worth about $432,000. Oxford Asset Management bought a new position in shares of Hanwha Q Cells Co. during the second quarter worth about $392,000. AJO LP bought a new position in shares of Hanwha Q Cells Co. during the second quarter worth about $171,000. Walleye Trading LLC increased its position in shares of Hanwha Q Cells Co. by 1,166.7% in the second quarter. Walleye Trading LLC now owns 7,600 shares of the company’s stock worth $109,000 after buying an additional 7,000 shares during the period. Finally, Guggenheim Capital LLC increased its position in shares of Hanwha Q Cells Co. by 27.8% in the second quarter. Guggenheim Capital LLC now owns 493,596 shares of the company’s stock worth $7,108,000 after buying an additional 107,408 shares during the period. Institutional investors own 1.59% of the company’s stock.
About Hanwha Q Cells Co.
Hanwha Q CELLS Co, Ltd., formerly Hanwha SolarOne Co, Ltd., is a global solar energy company engaged in the manufacturing of solar modules, and the development and management of downstream solar farms. It manufactures a range of photo voltaic (PV) cells and PV modules at its manufacturing facilities in China and Malaysia using manufacturing process technologies, including those developed at its research and development facilities in Germany.
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