Daqo New Energy (NYSE:DQ) was downgraded by Zacks Investment Research from a "strong-buy" rating to a "hold" rating in a research report issued to clients and investors on Thursday, Zacks.com reports.
According to Zacks, "Daqo New Energy Corp. is engaged in the manufacture and sale of high-quality polysilicon to photovoltaic product manufacturers. The polysilicon is further processed into ingots, wafers, cells and modules for solar power solutions. Daqo New Energy Corp., formerly known as Mega Stand International Limited, is headquartered in Wanzhou, The People's Republic of China. "
Other equities research analysts also recently issued research reports about the stock. Roth Capital raised their price objective on shares of Daqo New Energy from $70.00 to $79.00 and gave the company a "neutral" rating in a research report on Tuesday, June 1st. Jefferies Financial Group assumed coverage on shares of Daqo New Energy in a report on Thursday, April 22nd. They issued a "buy" rating and a $108.66 target price for the company. JPMorgan Chase & Co. cut shares of Daqo New Energy from an "overweight" rating to a "neutral" rating in a report on Monday. Finally, HSBC assumed coverage on shares of Daqo New Energy in a report on Thursday. They issued a "buy" rating and a $112.00 target price for the company. Three research analysts have rated the stock with a hold rating and three have given a buy rating to the stock. The stock currently has a consensus rating of "Buy" and a consensus price target of $90.13.
Shares of DQ traded down $1.30 during mid-day trading on Thursday, hitting $67.45. 2,305,618 shares of the company's stock were exchanged, compared to its average volume of 2,798,237. Daqo New Energy has a fifty-two week low of $10.97 and a fifty-two week high of $130.33. The stock has a market cap of $4.93 billion, a price-to-earnings ratio of 28.80 and a beta of 0.75. The company has a 50 day simple moving average of $74.74. The company has a debt-to-equity ratio of 0.11, a current ratio of 0.93 and a quick ratio of 0.83.
Daqo New Energy (NYSE:DQ) last announced its earnings results on Monday, May 17th. The semiconductor company reported $1.08 earnings per share for the quarter, missing the consensus estimate of $1.19 by ($0.11). Daqo New Energy had a return on equity of 23.90% and a net margin of 23.49%. On average, analysts expect that Daqo New Energy will post 8.57 earnings per share for the current year.
Several institutional investors and hedge funds have recently modified their holdings of DQ. First Trust Advisors LP increased its stake in shares of Daqo New Energy by 3.8% during the 1st quarter. First Trust Advisors LP now owns 9,808 shares of the semiconductor company's stock worth $324,000 after purchasing an additional 359 shares in the last quarter. Amundi Pioneer Asset Management Inc. purchased a new stake in Daqo New Energy during the 1st quarter worth $727,000. Zurcher Kantonalbank Zurich Cantonalbank increased its stake in Daqo New Energy by 486.3% during the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 11,216 shares of the semiconductor company's stock worth $643,000 after buying an additional 9,303 shares during the period. Creative Planning increased its stake in Daqo New Energy by 209.3% during the 4th quarter. Creative Planning now owns 7,577 shares of the semiconductor company's stock worth $435,000 after buying an additional 5,127 shares during the period. Finally, Parallel Advisors LLC increased its position in shares of Daqo New Energy by 299.2% in the 4th quarter. Parallel Advisors LLC now owns 495 shares of the semiconductor company's stock worth $28,000 after purchasing an additional 371 shares during the last quarter. 54.54% of the stock is 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 manufactures in the People's Republic of China. The photovoltaic product manufactures further process its polysilicon into ingots, wafers, cells, and modules for solar power solutions.
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