Hanwha Q Cells Co. Ltd. (HQCL) Upgraded at Zacks Investment Research
Hanwha Q Cells Co. Ltd. (NASDAQ:HQCL) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a report issued on Friday. The firm presently has a $13.00 price objective on the stock. Zacks Investment Research’s target price would suggest a potential upside of 14.24% from the stock’s previous close.
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 downgraded shares of 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 2.23% during midday trading on Friday, reaching $11.38. The company had a trading volume of 8,651 shares. The firm has a market capitalization of $946.61 million, a P/E ratio of 5.18 and a beta of 2.21. Hanwha Q Cells Co. has a one year low of $10.35 and a one year high of $28.87. The company has a 50 day moving average price of $11.51 and a 200-day moving average price of $12.87.
Hanwha Q Cells Co. (NASDAQ:HQCL) last released its quarterly earnings results on Tuesday, August 23rd. The company reported $0.92 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.48 by $0.44. Hanwha Q Cells Co. had a net margin of 8.03% and a return on equity of 42.12%. The company earned $638 million during the quarter, compared to the consensus estimate of $646 million. During the same period in the prior year, the firm earned ($0.17) earnings per share. Hanwha Q Cells Co.’s revenue was up 88.8% on a year-over-year basis. On average, analysts anticipate that Hanwha Q Cells Co. will post $1.67 EPS for the current fiscal year.
A number of large investors have recently made changes to their positions in HQCL. Walleye Trading LLC boosted its stake 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. AJO LP acquired a new stake in shares of Hanwha Q Cells Co. during the second quarter worth $171,000. Oxford Asset Management acquired a new stake in shares of Hanwha Q Cells Co. during the second quarter worth $392,000. Barclays PLC acquired a new stake in shares of Hanwha Q Cells Co. during the first quarter worth $432,000. Finally, Guggenheim Capital LLC boosted its stake 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 and hedge funds 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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