DAQO New Energy (NYSE:DQ) Now Covered by Citigroup

Equities research analysts at Citigroup began coverage on shares of DAQO New Energy (NYSE:DQ - Get Free Report) in a note issued to investors on Friday, Marketbeat reports. The brokerage set a "buy" rating and a $27.00 price target on the semiconductor company's stock. Citigroup's price target would indicate a potential upside of 28.19% from the company's current price.

Other analysts also recently issued research reports about the company. Wall Street Zen upgraded DAQO New Energy to a "sell" rating in a research note on Monday, April 21st. Glj Research upgraded DAQO New Energy from a "sell" rating to a "buy" rating and set a $30.51 price objective for the company in a research report on Thursday, July 10th. HSBC downgraded DAQO New Energy from a "buy" rating to a "hold" rating and set a $14.00 price objective for the company. in a research report on Wednesday, April 30th. Hsbc Global Res downgraded DAQO New Energy from a "strong-buy" rating to a "hold" rating in a research report on Wednesday, April 30th. Finally, The Goldman Sachs Group downgraded DAQO New Energy from a "buy" rating to a "neutral" rating and set a $17.00 target price for the company. in a research report on Tuesday, April 15th. One investment analyst has rated the stock with a sell rating, four have given a hold rating, four have assigned a buy rating and two have issued a strong buy rating to the company. According to MarketBeat.com, DAQO New Energy presently has a consensus rating of "Moderate Buy" and a consensus price target of $23.22.

DAQO New Energy Stock Up 1.8%

Shares of NYSE DQ traded up $0.37 during mid-day trading on Friday, hitting $21.06. 690,663 shares of the company traded hands, compared to its average volume of 1,046,621. DAQO New Energy has a 1 year low of $12.41 and a 1 year high of $30.85. The stock has a market capitalization of $1.41 billion, a price-to-earnings ratio of -3.24 and a beta of 0.60. The business has a 50 day moving average of $15.57 and a two-hundred day moving average of $17.02.

DAQO New Energy (NYSE:DQ - Get Free Report) last issued its earnings results on Tuesday, April 29th. The semiconductor company reported ($1.07) earnings per share for the quarter, missing the consensus estimate of ($1.02) by ($0.05). DAQO New Energy had a negative return on equity of 7.16% and a negative net margin of 58.63%. The firm had revenue of $123.91 million during the quarter, compared to analyst estimates of $176.81 million. As a group, research analysts anticipate that DAQO New Energy will post -3.5 EPS for the current year.

Institutional Investors Weigh In On DAQO New Energy

Several institutional investors and hedge funds have recently added to or reduced their stakes in the business. FengHe Fund Management Pte. Ltd. lifted its stake in shares of DAQO New Energy by 13.0% in the 2nd quarter. FengHe Fund Management Pte. Ltd. now owns 289,376 shares of the semiconductor company's stock valued at $4,390,000 after acquiring an additional 33,300 shares during the last quarter. Public Employees Retirement System of Ohio lifted its stake in shares of DAQO New Energy by 41.6% in the 2nd quarter. Public Employees Retirement System of Ohio now owns 46,300 shares of the semiconductor company's stock valued at $702,000 after acquiring an additional 13,600 shares during the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC lifted its stake in shares of DAQO New Energy by 34.4% in the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 174,912 shares of the semiconductor company's stock valued at $3,168,000 after acquiring an additional 44,780 shares during the last quarter. Caxton Associates LLP bought a new position in shares of DAQO New Energy in the 1st quarter valued at $1,705,000. Finally, Goldman Sachs Group Inc. lifted its stake in shares of DAQO New Energy by 117.2% in the 1st 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. 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.