DAQO New Energy (NYSE:DQ) Downgraded to Sell Rating by Glj Research

Glj Research downgraded shares of DAQO New Energy (NYSE:DQ) from a buy rating to a sell rating in a report released on Tuesday, Marketbeat reports. The brokerage currently has $18.13 price objective on the semiconductor company’s stock, down from their previous price objective of $30.51.

A number of other equities analysts have also recently commented on DQ. The Goldman Sachs Group set a $18.30 price target on DAQO New Energy and gave the stock a “neutral” rating in a report on Wednesday, October 29th. Wall Street Zen upgraded DAQO New Energy from a “sell” rating to a “hold” rating in a research report on Monday, November 3rd. Roth Mkm set a $30.00 target price on DAQO New Energy and gave the stock a “neutral” rating in a research note on Tuesday, October 28th. Finally, Weiss Ratings restated a “sell (d-)” rating on shares of DAQO New Energy in a research note on Monday, December 29th. One research analyst has rated the stock with a Strong Buy rating, two have assigned a Buy rating, two have assigned a Hold rating and two have issued a Sell rating to the company. Based on data from MarketBeat.com, DAQO New Energy presently has a consensus rating of “Hold” and a consensus price target of $25.43.

DAQO New Energy Stock Down 5.2%

DQ stock opened at $23.20 on Tuesday. The company’s 50-day moving average price is $29.30 and its two-hundred day moving average price is $27.63. The firm has a market cap of $1.56 billion, a P/E ratio of -4.51 and a beta of 0.70. DAQO New Energy has a 12 month low of $12.40 and a 12 month high of $36.59.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in DQ. Polunin Capital Partners Ltd bought a new position in DAQO New Energy in the 3rd quarter valued at approximately $37,183,000. Continental General Insurance Co. increased its position in DAQO New Energy by 11.3% in the 3rd quarter. Continental General Insurance Co. now owns 6,641,986 shares of the semiconductor company’s stock valued at $186,839,000 after acquiring an additional 675,784 shares during the period. Arrowstreet Capital Limited Partnership acquired a new position in DAQO New Energy in the 3rd quarter valued at approximately $18,280,000. Goldman Sachs Group Inc. raised its stake in shares of DAQO New Energy by 117.2% during the first quarter. Goldman Sachs Group Inc. now owns 1,159,835 shares of the semiconductor company’s stock valued at $21,005,000 after acquiring an additional 625,900 shares during the last quarter. Finally, Allianz Asset Management GmbH acquired a new position in shares of DAQO New Energy during the third quarter worth $11,673,000. Institutional investors and hedge funds own 47.22% of the company’s stock.

About DAQO New Energy

DAQO New Energy Corp. operates as a leading manufacturer of high-purity polysilicon and monocrystalline silicon wafers for the global solar photovoltaic industry. The company focuses on serving module makers and integrated solar producers with critical upstream materials, applying proprietary technologies and optimized processes to achieve high product purity and consistently low production costs. Its core offerings include solar-grade polysilicon—used in the ingot casting and wafer slicing stages—and premium mono-silicon wafers, which are a key input for high-efficiency solar cell production.

Founded in the late 2000s and listed on the New York Stock Exchange in 2010, DAQO New Energy established its first polysilicon facility in China’s Xinjiang Uygur Autonomous Region.