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

Daqo New Energy (NYSE:DQ) was downgraded by equities researchers at HSBC from a “buy” rating to a “hold” rating in a report issued on Wednesday, Marketbeat reports. They presently have a $14.00 price target on the semiconductor company’s stock. HSBC’s target price indicates a potential upside of 9.85% from the stock’s previous close.

Several other brokerages have also recently commented on DQ. The Goldman Sachs Group cut Daqo New Energy from a “buy” rating to a “neutral” rating and set a $17.00 price target for the company. in a research report on Tuesday, April 15th. StockNews.com upgraded shares of Daqo New Energy to a “sell” rating in a research report on Monday, April 21st. One analyst has rated the stock with a sell rating, four have given a hold rating, two have issued a buy rating and two have given a strong buy rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $21.01.

Daqo New Energy Stock Up 0.0 %

DQ opened at $12.75 on Wednesday. The firm’s fifty day simple moving average is $16.89 and its two-hundred day simple moving average is $18.94. Daqo New Energy has a 52-week low of $12.41 and a 52-week high of $30.85. The company has a market cap of $841.26 million, a price-to-earnings ratio of -6.89 and a beta of 0.37.

Daqo New Energy (NYSE:DQ) last issued its quarterly earnings results on Tuesday, April 29th. The semiconductor company reported ($1.07) earnings per share for the quarter, missing analysts’ consensus estimates of ($1.02) by ($0.05). Daqo New Energy had a negative net margin of 9.16% and a negative return on equity of 1.90%. The company had revenue of $123.91 million during the quarter, compared to analysts’ expectations of $176.81 million. On average, research analysts forecast that Daqo New Energy will post -3.5 EPS for the current year.

Institutional Trading of Daqo New Energy

Hedge funds and other institutional investors have recently modified their holdings of the stock. Van ECK Associates Corp lifted its holdings in Daqo New Energy by 7.6% in the fourth quarter. Van ECK Associates Corp now owns 20,067 shares of the semiconductor company’s stock valued at $390,000 after acquiring an additional 1,410 shares during the last quarter. CoreCommodity Management LLC raised its position in Daqo New Energy by 1.6% in the fourth quarter. CoreCommodity Management LLC now owns 134,888 shares of the semiconductor company’s stock valued at $2,622,000 after purchasing an additional 2,183 shares during the period. Generali Investments CEE investicni spolecnost a.s. acquired a new position in shares of Daqo New Energy in the 4th quarter valued at $52,000. Geode Capital Management LLC grew its holdings in shares of Daqo New Energy by 9.2% during the 3rd quarter. Geode Capital Management LLC now owns 33,546 shares of the semiconductor company’s stock worth $683,000 after purchasing an additional 2,813 shares during the period. Finally, Diametric Capital LP increased its position in shares of Daqo New Energy by 25.5% during the 4th quarter. Diametric Capital LP now owns 16,018 shares of the semiconductor company’s stock worth $311,000 after purchasing an additional 3,255 shares during the last quarter. 47.22% of the stock is owned by institutional investors and hedge funds.

Daqo New Energy Company Profile

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.