Daqo New Energy (NYSE:DQ) Coverage Initiated by Analysts at StockNews.com

Research analysts at StockNews.com initiated coverage on shares of Daqo New Energy (NYSE:DQ – Get Rating) in a report issued on Thursday. The firm set a “hold” rating on the semiconductor company’s stock.

Separately, The Goldman Sachs Group downgraded Daqo New Energy from a “buy” rating to a “neutral” rating and dropped their price target for the company from $140.00 to $70.00 in a research note on Monday, December 5th. Three investment analysts have rated the stock with a hold rating and one has assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average target price of $75.00.

Daqo New Energy Price Performance

DQ opened at $49.26 on Thursday. The business’s 50-day moving average price is $45.35 and its two-hundred day moving average price is $49.39. Daqo New Energy has a 1 year low of $36.03 and a 1 year high of $77.18. The company has a market capitalization of $3.67 billion, a price-to-earnings ratio of 2.05 and a beta of 0.52.

Institutional Trading of Daqo New Energy

Hedge funds and other institutional investors have recently modified their holdings of the stock. BlackRock Inc. grew its holdings in Daqo New Energy by 1.5% during the third quarter. BlackRock Inc. now owns 6,015,084 shares of the semiconductor company’s stock worth $319,279,000 after purchasing an additional 87,611 shares during the period. Vanguard Group Inc. grew its holdings in Daqo New Energy by 0.9% during the first quarter. Vanguard Group Inc. now owns 2,147,973 shares of the semiconductor company’s stock worth $88,753,000 after purchasing an additional 19,268 shares during the period. Tairen Capital Ltd grew its holdings in Daqo New Energy by 195.8% during the third quarter. Tairen Capital Ltd now owns 1,929,432 shares of the semiconductor company’s stock worth $102,414,000 after purchasing an additional 1,277,247 shares during the period. Hhlr Advisors LTD. grew its holdings in Daqo New Energy by 1,785.9% during the second quarter. Hhlr Advisors LTD. now owns 1,885,900 shares of the semiconductor company’s stock worth $134,616,000 after purchasing an additional 1,785,900 shares during the period. Finally, Morgan Stanley grew its holdings in Daqo New Energy by 189.4% during the fourth quarter. Morgan Stanley now owns 1,839,118 shares of the semiconductor company’s stock worth $71,008,000 after purchasing an additional 1,203,536 shares during the period.

About Daqo New Energy

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Daqo New Energy Corp. is a holding company, which engages in the provision of polysilicon products. It involves in the manufacture and sale of polysilicon to photovoltaic product manufactures, who further process the polysilicon into ingots, wafers, cells, and modules for solar power solutions. The company was founded by Guang Fu Xu on November 22, 2007 and is headquartered in Shanghai, China.