Daqo New Energy (NYSE:DQ) Stock Rating Reaffirmed by HSBC

HSBC reaffirmed their reduce rating on shares of Daqo New Energy (NYSE:DQ) in a report issued on Monday morning, MarketBeat.com reports. HSBC currently has a $17.50 target price on the semiconductor company’s stock, down from their prior target price of $23.50.

DQ has been the topic of several other reports. Roth Mkm reissued a neutral rating and set a $23.00 price target on shares of Daqo New Energy in a report on Tuesday, April 30th. Daiwa Capital Markets reiterated an underperform rating and issued a $25.00 target price on shares of Daqo New Energy in a research report on Friday, March 15th. Two equities research analysts have rated the stock with a sell rating, two have assigned a hold rating and one has assigned a buy rating to the company. Based on data from MarketBeat, the company has a consensus rating of Hold and a consensus target price of $27.63.

Daqo New Energy Trading Down 0.1 %

DQ stock opened at $19.00 on Monday. The stock has a market cap of $1.25 billion, a price-to-earnings ratio of 8.93 and a beta of 0.32. The company’s 50 day moving average is $24.58 and its 200 day moving average is $23.58. Daqo New Energy has a 1-year low of $17.30 and a 1-year high of $44.86.

Daqo New Energy (NYSE:DQ) last released its quarterly earnings results on Monday, April 29th. The semiconductor company reported $0.24 EPS for the quarter, missing analysts’ consensus estimates of $0.56 by ($0.32). The business had revenue of $415.31 million for the quarter, compared to the consensus estimate of $491.90 million. Daqo New Energy had a net margin of 7.84% and a return on equity of 2.46%. During the same period in the previous year, the company earned $3.52 EPS. As a group, sell-side analysts forecast that Daqo New Energy will post 2.59 EPS for the current fiscal year.

Hedge Funds Weigh In On Daqo New Energy

Hedge funds have recently made changes to their positions in the stock. PNC Financial Services Group Inc. grew its position in shares of Daqo New Energy by 117.5% in the 4th quarter. PNC Financial Services Group Inc. now owns 1,588 shares of the semiconductor company’s stock valued at $42,000 after buying an additional 858 shares during the last quarter. Quadrant Capital Group LLC lifted its holdings in Daqo New Energy by 39.4% in the fourth quarter. Quadrant Capital Group LLC now owns 2,348 shares of the semiconductor company’s stock valued at $62,000 after acquiring an additional 664 shares during the period. Signaturefd LLC increased its holdings in Daqo New Energy by 112.4% in the fourth quarter. Signaturefd LLC now owns 6,839 shares of the semiconductor company’s stock valued at $182,000 after buying an additional 3,619 shares in the last quarter. Daiwa Securities Group Inc. purchased a new position in shares of Daqo New Energy in the first quarter valued at $256,000. Finally, Capstone Investment Advisors LLC acquired a new position in Daqo New Energy during the first quarter worth about $264,000. Hedge funds and other institutional investors own 47.22% of the company’s stock.

About Daqo New Energy

Daqo New Energy Corp., together with its subsidiaries, manufactures and sells polysilicon to photovoltaic product manufacturers in the People's Republic of China. Its products are used in ingots, wafers, cells, and modules for solar power solutions. The company was formerly known as Mega Stand International Limited and changed its name to Daqo New Energy Corp.