Daqo New Energy (NYSE:DQ) Rating Lowered to "Hold" at Hsbc Global Res

Daqo New Energy (NYSE:DQ - Get Free Report) was downgraded by stock analysts at Hsbc Global Res from a "strong-buy" rating to a "hold" rating in a research report issued on Wednesday,Zacks.com reports.

Several other equities research analysts have also recently weighed in on DQ. The Goldman Sachs Group cut shares of Daqo New Energy from a "buy" rating to a "neutral" rating and set a $17.00 target price for the company. in a research note on Tuesday, April 15th. HSBC lowered shares of Daqo New Energy from a "buy" rating to a "hold" rating and set a $14.00 price objective for the company. in a report on Wednesday. Finally, StockNews.com upgraded shares of Daqo New Energy to a "sell" rating in a research report on Monday, April 21st. One investment 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 company. According to MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and a consensus target price of $21.01.

Daqo New Energy Stock Performance

Daqo New Energy stock opened at $12.75 on Wednesday. Daqo New Energy has a 52 week low of $12.41 and a 52 week high of $30.85. The firm has a market capitalization of $841.59 million, a PE ratio of -6.89 and a beta of 0.37. The business's 50-day simple moving average is $17.04 and its 200-day simple moving average is $18.99.

Daqo New Energy (NYSE:DQ - Get Free Report) last released its earnings results on Tuesday, April 29th. The semiconductor company reported ($1.07) earnings per share (EPS) for the quarter, missing analysts' consensus estimates 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 analyst estimates of $176.81 million. Research analysts forecast that Daqo New Energy will post -3.5 earnings per share for the current year.

Institutional Investors Weigh In On Daqo New Energy

Hedge funds have recently bought and sold shares of the company. Geode Capital Management LLC increased its position in shares of Daqo New Energy by 9.2% in the 3rd quarter. Geode Capital Management LLC now owns 33,546 shares of the semiconductor company's stock valued at $683,000 after buying an additional 2,813 shares in the last quarter. Ariose Capital Management Ltd increased its holdings in shares of Daqo New Energy by 27.5% in the fourth quarter. Ariose Capital Management Ltd now owns 1,505,709 shares of the semiconductor company's stock worth $29,271,000 after acquiring an additional 324,585 shares in the last quarter. Van ECK Associates Corp raised its position 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 worth $390,000 after purchasing an additional 1,410 shares during the period. Greenwoods Asset Management Hong Kong Ltd. lifted its holdings in shares of Daqo New Energy by 5,286.6% during the 4th quarter. Greenwoods Asset Management Hong Kong Ltd. now owns 2,714,780 shares of the semiconductor company's stock valued at $52,775,000 after purchasing an additional 2,664,381 shares in the last quarter. Finally, Generali Investments CEE investicni spolecnost a.s. acquired a new position in shares of Daqo New Energy in the 4th quarter valued at approximately $52,000. 47.22% of the stock is currently owned by institutional investors and hedge funds.

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.

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