Daqo New Energy (NYSE:DQ) Downgraded by ValuEngine to “Sell”

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Daqo New Energy (NYSE:DQ) was downgraded by equities research analysts at ValuEngine from a “hold” rating to a “sell” rating in a research report issued on Tuesday, ValuEngine reports.

Other equities research analysts have also recently issued reports about the stock. Zacks Investment Research raised shares of Daqo New Energy from a “sell” rating to a “hold” rating in a research report on Tuesday, October 15th. Roth Capital reaffirmed a “buy” rating on shares of Daqo New Energy in a research report on Wednesday, August 14th.

Shares of NYSE:DQ traded down $0.57 on Tuesday, hitting $39.40. The company had a trading volume of 111,946 shares, compared to its average volume of 259,730. The firm’s 50-day simple moving average is $46.48 and its two-hundred day simple moving average is $42.16. Daqo New Energy has a 1 year low of $20.35 and a 1 year high of $53.49. The company has a quick ratio of 0.48, a current ratio of 0.56 and a debt-to-equity ratio of 0.28. The firm has a market capitalization of $428.18 million, a price-to-earnings ratio of 8.87, a P/E/G ratio of 0.75 and a beta of 1.65.

Daqo New Energy (NYSE:DQ) last posted its earnings results on Wednesday, August 14th. The semiconductor company reported ($0.20) EPS for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.11) by ($0.09). Daqo New Energy had a positive return on equity of 5.57% and a negative net margin of 0.85%. The company had revenue of $65.96 million during the quarter, compared to analysts’ expectations of $69.80 million. During the same period in the prior year, the business posted $1.36 earnings per share. Equities research analysts anticipate that Daqo New Energy will post 1.86 EPS for the current year.

Several large investors have recently bought and sold shares of the company. Pictet Asset Management Ltd. purchased a new position in Daqo New Energy during the 2nd quarter valued at about $203,000. Jane Street Group LLC purchased a new position in Daqo New Energy during the 2nd quarter valued at about $239,000. CoreCommodity Management LLC purchased a new position in Daqo New Energy during the 2nd quarter valued at about $243,000. Aperio Group LLC purchased a new position in Daqo New Energy during the 2nd quarter valued at about $251,000. Finally, Unison Advisors LLC purchased a new position in Daqo New Energy during the 2nd quarter valued at about $321,000. 36.86% of the stock is owned by hedge funds and other institutional investors.

About Daqo New Energy

Daqo New Energy Corp., together with its subsidiaries, manufactures and sells polysilicon and wafers in the People's Republic of China. It operates through two segments, Polysilicon and Wafers. The company offers polysilicon to photovoltaic product manufacturers who further process its polysilicon into ingots, wafers, cells, and modules for solar power solutions.

Read More: Book Value Of Equity Per Share – BVPS Explained

To view ValuEngine’s full report, visit ValuEngine’s official website.

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