Glj Research Upgrades DAQO New Energy (NYSE:DQ) to Buy

DAQO New Energy (NYSE:DQ - Get Free Report) was upgraded by equities research analysts at Glj Research from a "sell" rating to a "buy" rating in a report released on Thursday,Benzinga reports. The brokerage presently has a $30.51 price objective on the semiconductor company's stock. Glj Research's price target suggests a potential upside of 51.11% from the stock's previous close.

A number of other research analysts have also commented on DQ. Hsbc Global Res lowered DAQO New Energy from a "strong-buy" rating to a "hold" rating in a report on Wednesday, April 30th. Wall Street Zen raised DAQO New Energy to a "sell" rating in a report on Monday, April 21st. HSBC lowered DAQO New Energy from a "buy" rating to a "hold" rating and set a $14.00 price objective on the stock. in a report on Wednesday, April 30th. Finally, The Goldman Sachs Group lowered DAQO New Energy from a "buy" rating to a "neutral" rating and set a $17.00 target price on the stock. in a report on Tuesday, April 15th. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating, three have issued a buy rating and two have issued a strong buy rating to the stock. Based on data from MarketBeat, DAQO New Energy has an average rating of "Moderate Buy" and a consensus target price of $22.59.

DAQO New Energy Stock Up 0.4%

Shares of NYSE DQ traded up $0.09 during midday trading on Thursday, hitting $20.19. 1,793,620 shares of the company's stock were exchanged, compared to its average volume of 1,035,915. DAQO New Energy has a 12 month low of $12.41 and a 12 month high of $30.85. The company's 50 day moving average price is $14.84 and its 200 day moving average price is $16.99. The firm has a market capitalization of $1.35 billion, a PE ratio of -3.10 and a beta of 0.60.

DAQO New Energy (NYSE:DQ - Get Free Report) last issued its earnings results on Tuesday, April 29th. The semiconductor company reported ($1.07) EPS for the quarter, missing the consensus estimate of ($1.02) by ($0.05). DAQO New Energy had a negative return on equity of 7.16% and a negative net margin of 58.63%. The business had revenue of $123.91 million for the quarter, compared to the consensus estimate of $176.81 million. On average, equities research analysts anticipate that DAQO New Energy will post -3.5 EPS for the current year.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently bought and sold shares of DQ. Caitong International Asset Management Co. Ltd increased its stake in 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 worth $31,000 after acquiring an additional 1,734 shares during the last quarter. CoreCommodity Management LLC lifted its stake in shares of DAQO New Energy by 1.6% in the 4th quarter. CoreCommodity Management LLC now owns 134,888 shares of the semiconductor company's stock valued at $2,622,000 after purchasing an additional 2,183 shares during the period. Diametric Capital LP lifted its stake in shares of DAQO New Energy by 25.5% in the 4th 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 during the period. Nuveen Asset Management LLC raised its stake in DAQO New Energy by 16.7% during the fourth quarter. Nuveen Asset Management LLC now owns 39,200 shares of the semiconductor company's stock valued at $762,000 after buying an additional 5,600 shares during the last quarter. Finally, American Century Companies Inc. raised its stake in DAQO New Energy by 4.7% during the first quarter. American Century Companies Inc. now owns 220,623 shares of the semiconductor company's stock valued at $3,995,000 after buying an additional 9,885 shares during the last quarter. Hedge funds and other institutional investors 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.