Hanwha SolarOne Co. (NASDAQ:HQCL) was upgraded by Zacks Investment Research from a “strong sell” rating to a “hold” rating in a research report issued to clients and investors on Friday.
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. “
Shares of Hanwha SolarOne (NASDAQ:HQCL) traded up 0.08% during trading on Friday, reaching $12.56. 46,462 shares of the company were exchanged. The company has a market capitalization of $1.04 billion and a PE ratio of 5.72. The firm’s 50 day moving average price is $13.62 and its 200 day moving average price is $13.99. Hanwha SolarOne has a one year low of $9.50 and a one year high of $28.87.
Hanwha SolarOne (NASDAQ:HQCL) last released its earnings results on Tuesday, August 23rd. The company reported $0.92 earnings per share for the quarter, beating analysts’ consensus estimates of $0.48 by $0.44. During the same period in the prior year, the company posted ($0.17) EPS. The firm had revenue of $638 million for the quarter, compared to analyst estimates of $646 million. The business’s revenue for the quarter was up 88.8% compared to the same quarter last year. Equities research analysts forecast that Hanwha SolarOne will post $1.67 earnings per share for the current fiscal year.
Separately, Roth Capital downgraded shares of Hanwha SolarOne from a “buy” rating to a “neutral” rating in a research report on Friday, August 5th.
A hedge fund recently bought a new stake in Hanwha SolarOne stock. Barclays PLC acquired a new stake in Hanwha SolarOne Co. (NASDAQ:HQCL) during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm acquired 28,753 shares of the company’s stock, valued at approximately $432,000.
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.