DAQO New Energy (NYSE:DQ) Stock Bumped Up to “Hold” by Zacks Research

Zacks Research upgraded shares of DAQO New Energy (NYSE:DQ) from a strong sell rating to a hold rating in a report released on Tuesday morning,Zacks reports.

Several other research firms have also recently weighed in on DQ. New Street Research set a $10.00 price objective on shares of DAQO New Energy in a research report on Monday, August 24th. The Goldman Sachs Group lowered DAQO New Energy from a “neutral” rating to a “sell” rating and set a $10.00 target price for the company. in a report on Monday, August 24th. Weiss Ratings upgraded DAQO New Energy from a “sell (e+)” rating to a “sell (d-)” rating in a report on Monday, September 14th. Finally, JPMorgan Chase & Co. decreased their target price on DAQO New Energy from $35.50 to $22.00 and set an “overweight” rating for the company in a research report on Friday, July 31st. One investment analyst has rated the stock with a Buy rating, two have issued a Hold rating and three have issued a Sell rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Reduce” and a consensus target price of $15.83.

DAQO New Energy Price Performance

Shares of DQ opened at $11.49 on Tuesday. DAQO New Energy has a one year low of $10.87 and a one year high of $36.59. The company has a 50-day moving average of $12.82 and a two-hundred day moving average of $15.89. The stock has a market cap of $777.66 million, a price-to-earnings ratio of -4.05 and a beta of 0.67.

DAQO New Energy (NYSE:DQ) last released its quarterly earnings results on Thursday, August 20th. The semiconductor company reported ($1.20) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.57) by ($0.63). The firm had revenue of $62.66 million for the quarter, compared to analyst estimates of $52.93 million. DAQO New Energy had a negative net margin of 34.50% and a negative return on equity of 3.26%. Analysts anticipate that DAQO New Energy will post -1.96 earnings per share for the current year.

Institutional Trading of DAQO New Energy

Institutional investors have recently made changes to their positions in the stock. Nykredit A S acquired a new position in DAQO New Energy in the 2nd quarter valued at approximately $28,000. Cygnus Capital Advisors LLC purchased a new stake in DAQO New Energy in the 2nd quarter worth approximately $724,000. BTG Pactual Asset Management US LLC acquired a new stake in shares of DAQO New Energy during the 2nd quarter valued at $224,000. Public Employees Retirement System of Ohio acquired a new stake in shares of DAQO New Energy during the 2nd quarter valued at $273,000. Finally, Renaissance Technologies LLC purchased a new position in shares of DAQO New Energy during the 1st quarter valued at $3,285,000. 47.22% of the stock is currently owned by institutional investors and hedge funds.

About DAQO New Energy

DA??QO New Energy Corp. (NYSE: DQ) is a China-based manufacturer of high-purity polysilicon, a key raw material used to produce the wafers, cells and modules that make up solar photovoltaic panels. The company supplies polysilicon primarily to manufacturers in the global solar power industry.

Through its operating subsidiary, Xinjiang Daqo New Energy Co, Ltd., the company produces polysilicon at manufacturing facilities in China. Its products include polysilicon used in both monocrystalline and multicrystalline solar applications, with product specifications designed for use in advanced photovoltaic manufacturing.

Daqo New Energy was established in 2008 and began commercial polysilicon production in 2009.