Daqo New Energy (NYSE:DQ) Raised to Sell at StockNews.com

StockNews.com upgraded shares of Daqo New Energy (NYSE:DQ) to a sell rating in a research report released on Monday.

A number of other equities research analysts have also weighed in on DQ. Nomura Securities upgraded shares of Daqo New Energy to a strong-buy rating in a research note on Wednesday, August 28th. HSBC raised Daqo New Energy from a reduce rating to a hold rating and set a $15.00 target price on the stock in a report on Tuesday, August 27th. Jefferies Financial Group cut their price target on Daqo New Energy from $38.40 to $34.05 and set a buy rating for the company in a research note on Monday, August 26th. Roth Mkm lowered their price objective on shares of Daqo New Energy from $23.00 to $15.00 and set a neutral rating on the stock in a research note on Wednesday, August 28th. Finally, Hsbc Global Res upgraded shares of Daqo New Energy from a moderate sell rating to a hold rating in a research report on Tuesday, August 27th. Two research analysts have rated the stock with a sell rating, three have issued a hold rating, two have given a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of Hold and an average target price of $22.26.

Daqo New Energy Price Performance

DQ stock opened at $17.01 on Monday. The stock has a market capitalization of $1.12 billion, a P/E ratio of 7.98 and a beta of 0.30. Daqo New Energy has a 1-year low of $13.62 and a 1-year high of $31.19. The business has a fifty day moving average price of $15.98 and a 200-day moving average price of $19.45.

Daqo New Energy (NYSE:DQ) last issued its earnings results on Monday, August 26th. The semiconductor company reported ($1.81) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.56) by ($1.25). Daqo New Energy had a negative return on equity of 1.04% and a negative net margin of 4.11%. The business had revenue of $219.91 million during the quarter, compared to analysts’ expectations of $406.50 million. During the same period last year, the firm posted $1.34 EPS. As a group, analysts anticipate that Daqo New Energy will post -3.35 earnings per share for the current year.

Daqo New Energy declared that its Board of Directors has authorized a stock repurchase plan on Monday, July 22nd that permits the company to buyback $100.00 million in outstanding shares. This buyback authorization permits the semiconductor company to reacquire up to 8.6% of its shares through open market purchases. Shares buyback plans are typically a sign that the company’s board of directors believes its shares are undervalued.

Hedge Funds Weigh In On Daqo New Energy

A number of hedge funds have recently modified their holdings of the company. Quadrant Capital Group LLC boosted its stake in shares of Daqo New Energy by 39.4% in the fourth quarter. Quadrant Capital Group LLC now owns 2,348 shares of the semiconductor company’s stock worth $62,000 after acquiring an additional 664 shares during the period. Hsbc Holdings PLC boosted its stake in Daqo New Energy by 42.9% in the 4th quarter. Hsbc Holdings PLC now owns 219,204 shares of the semiconductor company’s stock worth $5,826,000 after purchasing an additional 65,772 shares during the period. KBC Group NV boosted its stake in Daqo New Energy by 121.6% in the 4th quarter. KBC Group NV now owns 22,367 shares of the semiconductor company’s stock worth $595,000 after purchasing an additional 12,273 shares during the period. Intrinsic Edge Capital Management LLC grew its holdings in Daqo New Energy by 38.5% during the 4th quarter. Intrinsic Edge Capital Management LLC now owns 18,000 shares of the semiconductor company’s stock valued at $479,000 after buying an additional 5,000 shares in the last quarter. Finally, Franchise Capital Ltd bought a new stake in shares of Daqo New Energy during the fourth quarter valued at approximately $4,788,000. 47.22% of the stock is currently owned by institutional investors.

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.