DAQO New Energy (NYSE:DQ - Get Free Report)'s stock had its "sell (d)" rating reissued by Weiss Ratings in a research report issued on Wednesday,Weiss Ratings reports.
Several other brokerages also recently issued reports on DQ. New Street Research set a $15.40 price objective on shares of DAQO New Energy in a research note on Thursday, September 18th. Hsbc Global Res raised shares of DAQO New Energy from a "hold" rating to a "strong-buy" rating in a research note on Wednesday, August 27th. HSBC raised shares of DAQO New Energy from a "hold" rating to a "buy" rating and set a $31.00 price objective for the company in a research note on Wednesday, August 27th. Citigroup raised their price objective on shares of DAQO New Energy from $27.00 to $37.00 and gave the stock a "buy" rating in a research note on Monday, September 8th. Finally, Roth Capital reissued a "neutral" rating and issued a $25.00 price objective on shares of DAQO New Energy in a research note on Thursday, September 18th. Two research analysts have rated the stock with a Strong Buy rating, four have assigned a Buy rating, one has given a Hold rating and two have given a Sell rating to the company's stock. According to data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and a consensus target price of $25.84.
Check Out Our Latest Stock Report on DAQO New Energy
DAQO New Energy Trading Down 0.4%
Shares of NYSE:DQ traded down $0.11 during trading on Wednesday, reaching $28.21. The company's stock had a trading volume of 922,603 shares, compared to its average volume of 1,224,255. DAQO New Energy has a 12 month low of $12.40 and a 12 month high of $31.21. The firm's 50 day simple moving average is $25.24 and its two-hundred day simple moving average is $19.15. The stock has a market capitalization of $1.89 billion, a PE ratio of -4.83 and a beta of 0.60.
DAQO New Energy (NYSE:DQ - Get Free Report) last announced its quarterly earnings results on Tuesday, August 26th. The semiconductor company reported ($1.14) EPS for the quarter, beating analysts' consensus estimates of ($1.16) by $0.02. DAQO New Energy had a negative net margin of 65.64% and a negative return on equity of 6.54%. The firm had revenue of $75.19 million during the quarter, compared to the consensus estimate of $140.54 million. Research analysts anticipate that DAQO New Energy will post -3.5 EPS for the current fiscal year.
DAQO New Energy declared that its Board of Directors has initiated a stock buyback plan on Tuesday, August 26th that allows the company to buyback $0.00 in outstanding shares. This buyback authorization allows the semiconductor company to purchase shares of its stock through open market purchases. Shares buyback plans are usually an indication that the company's leadership believes its stock is undervalued.
Hedge Funds Weigh In On DAQO New Energy
Institutional investors have recently bought and sold shares of the business. SG Americas Securities LLC purchased a new position in DAQO New Energy in the first quarter worth $9,372,000. XTX Topco Ltd purchased a new position in DAQO New Energy in the first quarter worth $316,000. Vanguard Group Inc. grew its holdings in DAQO New Energy by 1.5% in the first quarter. Vanguard Group Inc. now owns 1,745,544 shares of the semiconductor company's stock worth $31,612,000 after purchasing an additional 26,359 shares during the last quarter. Charles Schwab Investment Management Inc. grew its holdings in DAQO New Energy by 227.3% in the first quarter. Charles Schwab Investment Management Inc. now owns 162,085 shares of the semiconductor company's stock worth $2,935,000 after purchasing an additional 112,562 shares during the last quarter. Finally, Virtu Financial LLC purchased a new position in DAQO New Energy in the first quarter worth $187,000. 47.22% of the stock is owned by hedge funds and other institutional investors.
About DAQO New Energy
(
Get Free Report)
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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