Daqo New Energy (NYSE:DQ) Lowered to "Hold" Rating by HSBC

HSBC cut shares of Daqo New Energy (NYSE:DQ - Free Report) from a buy rating to a hold rating in a research report report published on Wednesday morning, MarketBeat.com reports. HSBC currently has $14.00 target price on the semiconductor company's stock.

Other research analysts have also issued research reports about the company. StockNews.com raised Daqo New Energy to a "sell" rating in a report on Monday, April 21st. The Goldman Sachs Group downgraded shares of Daqo New Energy from a "buy" rating to a "neutral" rating and set a $17.00 price target for the company. in a report on Tuesday, April 15th. One research analyst has rated the stock with a sell rating, four have assigned a hold rating, two have assigned a buy rating and two have issued a strong buy rating to the stock. According to MarketBeat, Daqo New Energy currently has an average rating of "Moderate Buy" and a consensus price target of $21.01.

Daqo New Energy Stock Performance

DQ stock traded up $0.10 during mid-day trading on Wednesday, hitting $12.87. The company had a trading volume of 573,473 shares, compared to its average volume of 1,046,986. The firm has a market cap of $849.51 million, a PE ratio of -6.96 and a beta of 0.37. Daqo New Energy has a 12 month low of $12.41 and a 12 month high of $30.85. The stock's fifty day moving average price is $16.74 and its two-hundred day moving average price is $18.90.

Daqo New Energy (NYSE:DQ - Get Free Report) last released its quarterly earnings data on Tuesday, April 29th. The semiconductor company reported ($1.07) EPS for the quarter, missing the consensus estimate of ($1.02) by ($0.05). Daqo New Energy had a negative net margin of 9.16% and a negative return on equity of 1.90%. The business had revenue of $123.91 million for the quarter, compared to analysts' expectations of $176.81 million. Equities analysts anticipate that Daqo New Energy will post -3.5 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. Generali Investments CEE investicni spolecnost a.s. purchased a new stake in shares of Daqo New Energy during the fourth quarter worth about $52,000. Diametric Capital LP increased its stake in shares of Daqo New Energy by 25.5% during the fourth quarter. Diametric Capital LP now owns 16,018 shares of the semiconductor company's stock valued at $311,000 after buying an additional 3,255 shares during the period. Van ECK Associates Corp increased its stake in shares of Daqo New Energy by 7.6% during the fourth quarter. Van ECK Associates Corp now owns 20,067 shares of the semiconductor company's stock valued at $390,000 after buying an additional 1,410 shares during the period. Polymer Capital Management HK LTD bought a new position in shares of Daqo New Energy during the fourth quarter valued at approximately $404,000. Finally, Geode Capital Management LLC lifted its stake in Daqo New Energy by 9.2% in the third quarter. Geode Capital Management LLC now owns 33,546 shares of the semiconductor company's stock worth $683,000 after acquiring an additional 2,813 shares during the period. Hedge funds and other institutional investors own 47.22% of the company's stock.

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.