DAQO New Energy (NYSE:DQ) Downgraded by Zacks Research to "Strong Sell"

DAQO New Energy (NYSE:DQ - Get Free Report) was downgraded by research analysts at Zacks Research from a "hold" rating to a "strong sell" rating in a research note issued on Monday,Zacks.com reports.

DQ has been the subject of several other research reports. Roth Mkm set a $19.00 price objective on shares of DAQO New Energy in a research report on Thursday, April 30th. Glj Research lowered shares of DAQO New Energy from a "buy" rating to a "sell" rating and lowered their price objective for the company from $30.51 to $18.13 in a research report on Tuesday, February 3rd. Wall Street Zen lowered shares of DAQO New Energy from a "hold" rating to a "strong sell" rating in a research report on Saturday. New Street Research set a $18.13 price objective on shares of DAQO New Energy in a research report on Tuesday, February 3rd. Finally, Weiss Ratings reiterated a "sell (d-)" rating on shares of DAQO New Energy in a research report on Friday, March 27th. One research analyst has rated the stock with a Strong Buy rating, one has assigned a Buy rating, two have given a Hold rating and three have given a Sell rating to the stock. According to MarketBeat, DAQO New Energy currently has an average rating of "Hold" and a consensus price target of $23.59.

DAQO New Energy Trading Up 0.2%

NYSE:DQ opened at $20.00 on Monday. The company has a market capitalization of $1.35 billion, a P/E ratio of -7.19 and a beta of 0.66. DAQO New Energy has a 12 month low of $12.72 and a 12 month high of $36.59. The business's 50-day moving average is $22.04 and its 200 day moving average is $26.52.

DAQO New Energy (NYSE:DQ - Get Free Report) last posted its earnings results on Wednesday, April 29th. The semiconductor company reported ($1.31) earnings per share for the quarter, missing analysts' consensus estimates of ($0.13) by ($1.18). DAQO New Energy had a negative net margin of 32.92% and a negative return on equity of 3.19%. The business had revenue of $26.72 million during the quarter, compared to analysts' expectations of $186.28 million. On average, research analysts forecast that DAQO New Energy will post -1.31 earnings per share for the current year.

Institutional Investors Weigh In On DAQO New Energy

Several institutional investors have recently modified their holdings of the stock. Banque Cantonale Vaudoise lifted its stake in shares of DAQO New Energy by 37.5% in the 1st quarter. Banque Cantonale Vaudoise now owns 2,579 shares of the semiconductor company's stock valued at $55,000 after purchasing an additional 703 shares during the last quarter. Vontobel Holding Ltd. lifted its stake in shares of DAQO New Energy by 1.5% in the 4th quarter. Vontobel Holding Ltd. now owns 57,176 shares of the semiconductor company's stock valued at $1,687,000 after purchasing an additional 836 shares during the last quarter. Quarry LP bought a new stake in shares of DAQO New Energy in the 3rd quarter valued at approximately $26,000. Boothbay Fund Management LLC lifted its stake in shares of DAQO New Energy by 1.3% in the 3rd quarter. Boothbay Fund Management LLC now owns 97,747 shares of the semiconductor company's stock valued at $2,750,000 after purchasing an additional 1,237 shares during the last quarter. Finally, Farther Finance Advisors LLC lifted its stake in shares of DAQO New Energy by 1,650.0% in the 4th quarter. Farther Finance Advisors LLC now owns 1,330 shares of the semiconductor company's stock valued at $39,000 after purchasing an additional 1,254 shares during the last quarter. 47.22% of the stock is owned by institutional investors.

DAQO New Energy Company Profile

DAQO New Energy Corp. operates as a leading manufacturer of high-purity polysilicon and monocrystalline silicon wafers for the global solar photovoltaic industry. The company focuses on serving module makers and integrated solar producers with critical upstream materials, applying proprietary technologies and optimized processes to achieve high product purity and consistently low production costs. Its core offerings include solar-grade polysilicon—used in the ingot casting and wafer slicing stages—and premium mono-silicon wafers, which are a key input for high-efficiency solar cell production.

Founded in the late 2000s and listed on the New York Stock Exchange in 2010, DAQO New Energy established its first polysilicon facility in China's Xinjiang Uygur Autonomous Region.

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