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

DAQO New Energy (NYSE:DQ - Get Free Report) was upgraded by Glj Research from a "sell" rating to a "buy" rating in a research report issued to clients and investors on Thursday,Benzinga reports. The firm currently has a $30.51 price objective on the semiconductor company's stock. Glj Research's target price points to a potential upside of 52.36% from the company's current price.

Other research analysts have also recently issued research reports about the company. HSBC cut DAQO New Energy from a "buy" rating to a "hold" rating and set a $14.00 price objective on the stock. in a research note on Wednesday, April 30th. Wall Street Zen upgraded DAQO New Energy to a "sell" rating in a research note on Monday, April 21st. Hsbc Global Res cut DAQO New Energy from a "strong-buy" rating to a "hold" rating in a research note on Wednesday, April 30th. Finally, The Goldman Sachs Group cut DAQO New Energy from a "buy" rating to a "neutral" rating and set a $17.00 price target on the stock. in a research note on Tuesday, April 15th. One 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 company. According to data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and an average price target of $22.59.

DAQO New Energy Stock Performance

DAQO New Energy stock opened at $20.03 on Thursday. The stock has a fifty day moving average of $14.55 and a two-hundred day moving average of $17.00. The company has a market capitalization of $1.34 billion, a price-to-earnings ratio of -3.12 and a beta of 0.60. DAQO New Energy has a fifty-two week low of $12.41 and a fifty-two week high of $30.85.

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

Institutional Trading of DAQO New Energy

Several institutional investors and hedge funds have recently bought and sold shares of the company. Caitong International Asset Management Co. Ltd grew its holdings 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 buying an additional 1,734 shares in the last quarter. Virtu Financial LLC bought a new position in DAQO New Energy in the 1st quarter worth approximately $187,000. Vident Advisory LLC acquired a new stake in DAQO New Energy in the first quarter worth approximately $216,000. Harvest Portfolios Group Inc. acquired a new stake in DAQO New Energy in the first quarter worth approximately $305,000. Finally, Diametric Capital LP lifted its position in DAQO New Energy by 25.5% in the fourth 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. Institutional investors and hedge funds own 47.22% of the company's stock.

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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