Hanwha SolarOne Co. (HQCL) Shares Down 5%
Shares of Hanwha SolarOne Co. (NASDAQ:HQCL) traded down 5% during mid-day trading on Wednesday . The stock traded as low as $12.68 and last traded at $13.04, with a volume of 53,292 shares. The stock had previously closed at $13.72.
Several analysts recently issued reports on the company. Zacks Investment Research raised Hanwha SolarOne from a “sell” rating to a “strong-buy” rating and set a $14.00 target price on the stock in a research note on Tuesday, May 24th. Roth Capital cut Hanwha SolarOne from a “buy” rating to a “neutral” rating in a research note on Friday, August 5th.
The firm’s 50 day moving average is $13.68 and its 200-day moving average is $14.01. The stock has a market cap of $1.04 billion and a price-to-earnings ratio of 11.38.
Hanwha SolarOne (NASDAQ:HQCL) last released its quarterly earnings data on Tuesday, August 23rd. The company reported $0.92 EPS for the quarter, beating the consensus estimate of $0.48 by $0.44. The company had revenue of $638 million for the quarter, compared to the consensus estimate of $646 million. During the same period last year, the company earned ($0.17) EPS. The firm’s revenue for the quarter was up 88.8% on a year-over-year basis. Equities analysts anticipate that Hanwha SolarOne Co. will post $1.10 earnings per share for the current year.
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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