Hanwha Q Cells Co. Ltd. (NASDAQ:HQCL) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a research report issued to clients and investors on Friday. The firm presently has a $13.00 price target on the stock. Zacks Investment Research’s price objective suggests a potential upside of 15.15% 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 lowered 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) opened at 11.29 on Friday. The stock’s 50 day moving average is $11.48 and its 200 day moving average is $12.80. Hanwha Q Cells Co. has a 52 week low of $10.35 and a 52 week high of $28.87. The stock has a market capitalization of $939.12 million, a PE ratio of 5.14 and a beta of 2.21.
Hanwha Q Cells Co. (NASDAQ:HQCL) last posted its quarterly earnings data on Tuesday, August 23rd. The company reported $0.92 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.48 by $0.44. The business earned $638 million during the quarter, compared to analysts’ expectations of $646 million. Hanwha Q Cells Co. had a net margin of 8.03% and a return on equity of 42.12%. The business’s revenue was up 88.8% on a year-over-year basis. During the same period last year, the firm posted ($0.17) earnings per share. Analysts anticipate that Hanwha Q Cells Co. will post $1.67 EPS for the current fiscal year.
A number of hedge funds have recently added to or reduced their stakes in HQCL. Guggenheim Capital LLC raised its stake in 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 in the last quarter. Walleye Trading LLC raised its stake 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 valued at $109,000 after buying an additional 7,000 shares in the last quarter. AJO LP acquired a new stake in Hanwha Q Cells Co. during the second quarter valued at approximately $171,000. Oxford Asset Management acquired a new stake in Hanwha Q Cells Co. during the second quarter valued at approximately $392,000. Finally, Barclays PLC acquired a new stake in Hanwha Q Cells Co. during the first quarter valued at approximately $432,000. 1.59% of the stock is owned by institutional investors and hedge funds.
Hanwha Q Cells Co. Company Profile
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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