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 released on Friday. The brokerage currently has a $13.00 price target on the stock. Zacks Investment Research’s price objective points to 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 cut 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. 8,651 shares of the company’s stock were exchanged. The company has a market cap of $946.61 million, a price-to-earnings ratio of 5.18 and a beta of 2.21. The stock’s 50 day moving average price is $11.51 and its 200 day moving average price is $12.87. Hanwha Q Cells Co. has a 12-month low of $10.35 and a 12-month high of $28.87.
Hanwha Q Cells Co. (NASDAQ:HQCL) last released its quarterly earnings results on Tuesday, August 23rd. The company reported $0.92 EPS for the quarter, topping analysts’ consensus estimates 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 firm earned $638 million during the quarter, compared to analysts’ expectations of $646 million. During the same period in the previous year, the company earned ($0.17) EPS. The firm’s revenue for the quarter was up 88.8% compared to the same quarter last year. Equities analysts anticipate that Hanwha Q Cells Co. will post $1.67 earnings per share for the current fiscal year.
Several institutional investors have recently added to or reduced their stakes in HQCL. Walleye Trading LLC boosted its position in 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 in the last quarter. AJO LP bought a new stake in shares of Hanwha Q Cells Co. during the second quarter worth $171,000. Oxford Asset Management bought a new stake in shares of Hanwha Q Cells Co. during the second quarter worth $392,000. Barclays PLC bought a new stake in shares of Hanwha Q Cells Co. during the first quarter worth $432,000. Finally, Guggenheim Capital LLC raised 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 last quarter. 1.59% of the stock is owned by hedge funds and other institutional investors.
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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