DAQO New Energy (NYSE:DQ) Stock Rating Upgraded by Glj Research

DAQO New Energy (NYSE:DQ - Get Free Report) was upgraded by research analysts at Glj Research from a "sell" rating to a "buy" rating in a research report issued to clients and investors on Thursday,Benzinga reports. The brokerage currently has a $30.51 target price on the semiconductor company's stock. Glj Research's target price points to a potential upside of 52.63% from the company's previous close.

Several other research firms also recently weighed in on DQ. HSBC downgraded shares of DAQO New Energy from a "buy" rating to a "hold" rating and set a $14.00 price target on the stock. in a research report on Wednesday, April 30th. Hsbc Global Res lowered DAQO New Energy from a "strong-buy" rating to a "hold" rating in a report on Wednesday, April 30th. The Goldman Sachs Group lowered DAQO New Energy from a "buy" rating to a "neutral" rating and set a $17.00 price target for the company. in a report on Tuesday, April 15th. Finally, Wall Street Zen raised DAQO New Energy to a "sell" rating in a research report on Monday, April 21st. One analyst has rated the stock with a sell rating, four have given a hold rating, three have assigned a buy rating and two have issued a strong buy rating to the stock. According to data from MarketBeat.com, DAQO New Energy currently has an average rating of "Moderate Buy" and an average target price of $22.59.

DAQO New Energy Stock Performance

Shares of NYSE DQ traded down $0.11 during midday trading on Thursday, hitting $19.99. 1,224,216 shares of the stock traded hands, compared to its average volume of 906,711. The firm has a 50-day moving average of $14.70 and a two-hundred day moving average of $17.02. The firm has a market capitalization of $1.34 billion, a P/E ratio of -3.07 and a beta of 0.60. DAQO New Energy has a one year low of $12.40 and a one year high of $30.85.

DAQO New Energy (NYSE:DQ - Get Free Report) last released its quarterly 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). The firm had revenue of $123.91 million for the quarter, compared to the consensus estimate of $176.81 million. DAQO New Energy had a negative net margin of 58.63% and a negative return on equity of 7.16%. Equities analysts forecast that DAQO New Energy will post -3.5 earnings per share for the current fiscal year.

Institutional Investors Weigh In On DAQO New Energy

Institutional investors have recently added to or reduced their stakes in the stock. Caitong International Asset Management Co. Ltd lifted its stake in shares of DAQO New Energy by 86,700.0% in the 1st quarter. Caitong International Asset Management Co. Ltd now owns 1,736 shares of the semiconductor company's stock valued at $31,000 after purchasing an additional 1,734 shares during the last quarter. Virtu Financial LLC bought a new position in DAQO New Energy during the first quarter valued at $187,000. Vident Advisory LLC bought a new position in DAQO New Energy during the first quarter valued at $216,000. Harvest Portfolios Group Inc. purchased a new position in shares of DAQO New Energy during the 1st quarter worth about $305,000. Finally, Diametric Capital LP boosted its stake in shares of DAQO New Energy by 25.5% during the 4th quarter. Diametric Capital LP now owns 16,018 shares of the semiconductor company's stock worth $311,000 after purchasing an additional 3,255 shares during the period. 47.22% of the stock is owned by hedge funds and other institutional investors.

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.