Daqo New Energy (NYSE:DQ) Stock Rating Lowered by Hsbc Global Res

Hsbc Global Res cut shares of Daqo New Energy (NYSE:DQ - Free Report) from a strong-buy rating to a hold rating in a report published on Wednesday,Zacks.com reports.

DQ has been the subject of a number of other research reports. StockNews.com raised Daqo New Energy to a "sell" rating in a research report on Monday, April 21st. The Goldman Sachs Group cut Daqo New Energy from a "buy" rating to a "neutral" rating and set a $17.00 price target for the company. in a research note on Tuesday, April 15th. Finally, HSBC lowered shares of Daqo New Energy from a "buy" rating to a "hold" rating and set a $14.00 price objective on the stock. in a research report on Wednesday, April 30th. One research analyst has rated the stock with a sell rating, four have assigned a hold rating, two have issued a buy rating and two have assigned a strong buy rating to the company's stock. According to MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and an average price target of $21.01.

Daqo New Energy Trading Up 4.6 %

NYSE:DQ traded up $0.59 on Wednesday, hitting $13.36. 271,362 shares of the company's stock traded hands, compared to its average volume of 1,039,874. The firm has a 50-day moving average price of $16.56 and a 200-day moving average price of $18.87. The company has a market cap of $881.52 million, a PE ratio of -7.23 and a beta of 0.58. 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 released its quarterly earnings data 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). The company had revenue of $123.91 million during the quarter, compared to analyst estimates of $176.81 million. Daqo New Energy had a negative net margin of 9.16% and a negative return on equity of 1.90%. On average, research analysts forecast that Daqo New Energy will post -3.5 EPS for the current fiscal year.

Hedge Funds Weigh In On Daqo New Energy

A number of hedge funds have recently made changes to their positions in the business. Generali Investments CEE investicni spolecnost a.s. bought a new stake in Daqo New Energy in the fourth quarter valued at about $52,000. Diametric Capital LP boosted its holdings in 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 purchasing an additional 3,255 shares in the last quarter. Van ECK Associates Corp grew its stake in shares of Daqo New Energy by 7.6% in the 4th quarter. Van ECK Associates Corp now owns 20,067 shares of the semiconductor company's stock valued at $390,000 after purchasing an additional 1,410 shares during the period. Polymer Capital Management HK LTD acquired a new position in shares of Daqo New Energy in the 4th quarter worth approximately $404,000. Finally, Geode Capital Management LLC lifted its position in shares of Daqo New Energy by 9.2% during the 3rd quarter. Geode Capital Management LLC now owns 33,546 shares of the semiconductor company's stock worth $683,000 after buying an additional 2,813 shares during the period. Institutional investors and hedge funds own 47.22% of the company's stock.

About Daqo New Energy

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.