Hsbc Global Res Downgrades Daqo New Energy (NYSE:DQ) to Hold

Daqo New Energy (NYSE:DQ) was downgraded by stock analysts at Hsbc Global Res from a “strong-buy” rating to a “hold” rating in a research report issued to clients and investors on Wednesday,Zacks.com reports.

Several other research firms have also weighed in on DQ. The Goldman Sachs Group lowered Daqo New Energy from a “buy” rating to a “neutral” rating and set a $17.00 target price on the stock. in a report on Tuesday, April 15th. StockNews.com upgraded Daqo New Energy to a “sell” rating in a report on Monday, April 21st. Finally, HSBC cut Daqo New Energy from a “buy” rating to a “hold” rating and set a $14.00 target price for the company. in a research report on Wednesday. One investment analyst has rated the stock with a sell rating, four have issued a hold rating, two have issued a buy rating and two have issued a strong buy rating to the stock. Based on data from MarketBeat.com, Daqo New Energy currently has a consensus rating of “Moderate Buy” and an average target price of $21.01.

Daqo New Energy Price Performance

DQ opened at $12.75 on Wednesday. The company has a market capitalization of $841.26 million, a PE ratio of -6.89 and a beta of 0.37. Daqo New Energy has a fifty-two week low of $12.41 and a fifty-two week high of $30.85. The business has a 50-day moving average of $16.89 and a 200-day moving average of $18.94.

Daqo New Energy (NYSE:DQ) last posted its earnings results on Tuesday, April 29th. The semiconductor company reported ($1.07) earnings per share (EPS) 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 business had revenue of $123.91 million during the quarter, compared to analyst estimates of $176.81 million. On average, equities research analysts expect that Daqo New Energy will post -3.5 earnings per share for the current fiscal year.

Institutional Trading of Daqo New Energy

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Generali Investments CEE investicni spolecnost a.s. bought a new stake in shares of Daqo New Energy in the fourth quarter valued at about $52,000. Diametric Capital LP lifted its position in shares of Daqo New Energy by 25.5% in the 4th quarter. Diametric Capital LP now owns 16,018 shares of the semiconductor company’s stock worth $311,000 after acquiring an additional 3,255 shares during the period. Van ECK Associates Corp grew its holdings in shares of Daqo New Energy by 7.6% during the 4th quarter. Van ECK Associates Corp now owns 20,067 shares of the semiconductor company’s stock worth $390,000 after purchasing an additional 1,410 shares in the last quarter. Polymer Capital Management HK LTD bought a new stake in shares of Daqo New Energy during the fourth quarter valued at approximately $404,000. Finally, Geode Capital Management LLC raised its stake in shares of Daqo New Energy by 9.2% in the third quarter. Geode Capital Management LLC now owns 33,546 shares of the semiconductor company’s stock valued at $683,000 after purchasing an additional 2,813 shares in the last quarter. 47.22% of the stock is currently owned by institutional investors and hedge funds.

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.