Hanwha Q Cells Co. Ltd. (HQCL) Cut to “Hold” at Zacks Investment Research
Hanwha Q Cells Co. Ltd. (NASDAQ:HQCL) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a note issued to investors on Wednesday.
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 Hanwha Q Cells Co. from a “buy” rating to a “neutral” rating in a report on Friday, August 5th.
Shares of Hanwha Q Cells Co. (NASDAQ:HQCL) traded down 1.69% during mid-day trading on Wednesday, reaching $8.13. 50,179 shares of the company’s stock traded hands. Hanwha Q Cells Co. has a 12 month low of $8.13 and a 12 month high of $8.84. The company has a 50 day moving average of $0.00 and a 200 day moving average of $0.00.
Hanwha Q Cells Co. (NASDAQ:HQCL) last released its quarterly earnings results on Tuesday, November 22nd. The company reported $0.50 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.21 by $0.29. The company had revenue of $707.80 million for the quarter, compared to analysts’ expectations of $653.40 million. Hanwha Q Cells Co. had a return on equity of 42.02% and a net margin of 6.73%. Hanwha Q Cells Co.’s revenue for the quarter was up 65.7% on a year-over-year basis. Analysts forecast that Hanwha Q Cells Co. will post $1.67 earnings per share for the current year.
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A number of hedge funds have recently made changes to their positions in HQCL. 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 valued at $7,108,000 after buying an additional 107,408 shares during the last quarter. Barclays PLC bought a new stake in shares of Hanwha Q Cells Co. during the first quarter valued at approximately $432,000. Oxford Asset Management bought a new stake in shares of Hanwha Q Cells Co. during the second quarter valued at approximately $392,000. Morgan Stanley boosted its stake in shares of Hanwha Q Cells Co. by 12.8% in the third quarter. Morgan Stanley now owns 181,537 shares of the company’s stock valued at $2,035,000 after buying an additional 20,545 shares during the last quarter. Finally, AJO LP bought a new stake in shares of Hanwha Q Cells Co. during the second quarter valued at approximately $171,000. Institutional investors and hedge funds own 1.29% 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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