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

HSBC downgraded shares of Daqo New Energy (NYSE:DQ - Free Report) from a buy rating to a hold rating in a report released on Wednesday morning, MarketBeat reports. They currently have $14.00 price objective on the semiconductor company's stock.

DQ has been the topic of a number of other research reports. The Goldman Sachs Group lowered Daqo New Energy from a "buy" rating to a "neutral" rating and set a $17.00 price objective on the stock. in a research report on Tuesday, April 15th. StockNews.com upgraded Daqo New Energy to a "sell" rating in a report on Monday, April 21st. One equities research analyst has rated the stock with a sell rating, four have given a hold rating, two have given a buy rating and two have assigned a strong buy rating to the company's stock. According to MarketBeat, Daqo New Energy presently has a consensus rating of "Moderate Buy" and a consensus price target of $21.01.

Daqo New Energy Trading Down 1.9 %

DQ traded down $0.24 during mid-day trading on Wednesday, hitting $12.65. 213,057 shares of the stock were exchanged, compared to its average volume of 1,041,893. The company has a market cap of $834.72 million, a PE ratio of -6.85 and a beta of 0.37. The firm's fifty day moving average is $16.74 and its two-hundred day moving average is $18.91. Daqo New Energy has a 1-year low of $12.41 and a 1-year high of $30.85.

Daqo New Energy (NYSE:DQ - Get Free Report) last posted 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 during the quarter, compared to analysts' expectations of $176.81 million. As a group, research analysts anticipate that Daqo New Energy will post -3.5 earnings per share for the current year.

Institutional Trading of Daqo New Energy

A number of large investors have recently bought and sold shares of DQ. SG Americas Securities LLC purchased a new stake in shares of Daqo New Energy in the first quarter valued at about $9,372,000. Point72 Asset Management L.P. raised its stake in shares of Daqo New Energy by 67.5% during the fourth quarter. Point72 Asset Management L.P. now owns 886,655 shares of the semiconductor company's stock worth $17,237,000 after purchasing an additional 357,460 shares during the last quarter. Point72 Europe London LLP acquired a new stake in shares of Daqo New Energy during the fourth quarter worth $3,742,000. Point72 Hong Kong Ltd acquired a new stake in shares of Daqo New Energy during the fourth quarter worth $3,287,000. Finally, Nuveen Asset Management LLC grew its position in Daqo New Energy by 16.7% in the 4th quarter. Nuveen Asset Management LLC now owns 39,200 shares of the semiconductor company's stock valued at $762,000 after buying an additional 5,600 shares during the last quarter. Institutional investors and hedge funds 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.