Daqo New Energy (NYSE:DQ) Upgraded at StockNews.com

Daqo New Energy (NYSE:DQ) was upgraded by analysts at StockNews.com to a “sell” rating in a research note issued to investors on Monday.

Separately, The Goldman Sachs Group lowered Daqo New Energy from a “buy” rating to a “neutral” rating and set a $17.00 price objective on the stock. in a report on Tuesday, April 15th. One research analyst has rated the stock with a sell rating, two have assigned a hold rating, three have assigned a buy rating and three have given a strong buy rating to the company’s stock. Based on data from MarketBeat, Daqo New Energy presently has an average rating of “Moderate Buy” and a consensus target price of $21.21.

Daqo New Energy Stock Down 5.5 %

Shares of DQ traded down $0.77 during trading hours on Monday, hitting $13.16. The company had a trading volume of 1,114,935 shares, compared to its average volume of 1,052,333. The business has a fifty day moving average of $18.16 and a 200-day moving average of $19.33. The firm has a market cap of $868.65 million, a price-to-earnings ratio of -7.11 and a beta of 0.37. Daqo New Energy has a 12 month low of $12.90 and a 12 month high of $30.85.

Daqo New Energy (NYSE:DQ) last issued its quarterly earnings data on Thursday, February 27th. The semiconductor company reported ($2.71) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.69) by ($2.02). Daqo New Energy had a negative return on equity of 1.90% and a negative net margin of 9.16%. The company had revenue of $195.36 million for the quarter, compared to analyst estimates of $153.54 million. On average, equities analysts expect that Daqo New Energy will post -3.5 EPS for the current fiscal year.

Institutional Inflows and Outflows

A number of hedge funds have recently modified their holdings of the stock. Greenwoods Asset Management Hong Kong Ltd. grew its stake in Daqo New Energy by 5,286.6% during the fourth quarter. Greenwoods Asset Management Hong Kong Ltd. now owns 2,714,780 shares of the semiconductor company’s stock worth $52,775,000 after buying an additional 2,664,381 shares in the last quarter. Prudential PLC acquired a new position in Daqo New Energy during the fourth quarter valued at approximately $14,775,000. SG Americas Securities LLC bought a new stake in Daqo New Energy during the first quarter worth $9,372,000. Point72 Asset Management L.P. boosted its holdings in shares of Daqo New Energy by 67.5% in the 4th quarter. Point72 Asset Management L.P. now owns 886,655 shares of the semiconductor company’s stock valued at $17,237,000 after purchasing an additional 357,460 shares in the last quarter. Finally, Ariose Capital Management Ltd increased its stake in shares of Daqo New Energy by 27.5% in the 4th quarter. Ariose Capital Management Ltd now owns 1,505,709 shares of the semiconductor company’s stock valued at $29,271,000 after purchasing an additional 324,585 shares during the last quarter. 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.