Daqo New Energy (DQ) Stock Rating Lowered by Zacks Investment Research

Zacks Investment Research downgraded shares of Daqo New Energy (NYSE:DQ) from a strong-buy rating to a hold rating in a research report report published on Tuesday morning.

According to Zacks, “Daqo New Energy Corp. is engaged in the manufacture and sale of high-quality polysilicon to photovoltaic product manufacturers. The polysilicon is further processed into ingots, wafers, cells and modules for solar power solutions. Daqo New Energy Corp., formerly known as Mega Stand International Limited, is headquartered in Wanzhou, The People’s Republic of China. “

A number of other equities research analysts also recently weighed in on DQ. Roth Capital set a $35.00 target price on Daqo New Energy and gave the stock a buy rating in a report on Monday, October 16th. TheStreet raised Daqo New Energy from a c+ rating to a b rating in a report on Wednesday, November 15th. Two analysts have rated the stock with a hold rating, two have issued a buy rating and one has assigned a strong buy rating to the company. The stock has a consensus rating of Buy and a consensus target price of $51.67.

Daqo New Energy (NYSE:DQ) traded down $2.47 on Tuesday, hitting $61.00. The stock had a trading volume of 524,601 shares, compared to its average volume of 490,331. Daqo New Energy has a 12 month low of $18.01 and a 12 month high of $72.50. The company has a quick ratio of 0.49, a current ratio of 0.57 and a debt-to-equity ratio of 0.34. The firm has a market capitalization of $628.68, a P/E ratio of 10.39, a P/E/G ratio of 1.63 and a beta of 2.13.

Daqo New Energy (NYSE:DQ) last posted its earnings results on Tuesday, November 14th. The semiconductor company reported $2.22 earnings per share for the quarter, topping the Zacks’ consensus estimate of $1.41 by $0.81. Daqo New Energy had a return on equity of 21.51% and a net margin of 21.42%. sell-side analysts expect that Daqo New Energy will post 7.18 EPS for the current year.

A number of hedge funds have recently bought and sold shares of the stock. Quentec Asset Management LLC raised its stake in Daqo New Energy by 5.0% in the second quarter. Quentec Asset Management LLC now owns 977,106 shares of the semiconductor company’s stock valued at $20,285,000 after purchasing an additional 46,888 shares in the last quarter. Acadian Asset Management LLC raised its stake in Daqo New Energy by 204.9% in the fourth quarter. Acadian Asset Management LLC now owns 395,275 shares of the semiconductor company’s stock valued at $23,494,000 after purchasing an additional 265,634 shares in the last quarter. Dymon Asia Capital Ltd. raised its stake in Daqo New Energy by 46.6% in the third quarter. Dymon Asia Capital Ltd. now owns 203,867 shares of the semiconductor company’s stock valued at $5,916,000 after purchasing an additional 64,850 shares in the last quarter. Ecofin Ltd. raised its stake in Daqo New Energy by 22.3% in the second quarter. Ecofin Ltd. now owns 103,205 shares of the semiconductor company’s stock valued at $2,143,000 after purchasing an additional 18,846 shares in the last quarter. Finally, JPMorgan Chase & Co. raised its stake in Daqo New Energy by 29,376.5% in the third quarter. JPMorgan Chase & Co. now owns 28,887 shares of the semiconductor company’s stock valued at $852,000 after purchasing an additional 28,789 shares in the last quarter. 27.38% of the stock is owned by institutional investors and hedge funds.

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Daqo New Energy Company Profile

Daqo New Energy Corp. is a polysilicon manufacturer. The Company utilizes the chemical vapor deposition process, or the modified Siemens process, to produce polysilicon. The Company’s segments include Polysilicon and Wafer. The Company manufactures and sells polysilicon to photovoltaic product manufacturers, whereby the polysilicon is processed into ingots, wafers, cells and modules for solar power solutions.

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