HSBC Reaffirms "Reduce" Rating for Daqo New Energy (NYSE:DQ)

Daqo New Energy (NYSE:DQ - Get Free Report)'s stock had its "reduce" rating reiterated by analysts at HSBC in a research report issued to clients and investors on Monday, MarketBeat.com reports. They presently have a $17.50 price objective on the semiconductor company's stock, down from their prior price objective of $23.50. HSBC's price target indicates a potential downside of 7.97% from the company's current price.

Other analysts have also recently issued reports about the company. Roth Mkm reiterated a "neutral" rating and issued a $23.00 target price on shares of Daqo New Energy in a report on Tuesday, April 30th. Daiwa Capital Markets reiterated an "underperform" rating and set a $25.00 price objective on shares of Daqo New Energy in a research report on Friday, March 15th. Two analysts have rated the stock with a sell rating, two have assigned a hold rating and one has issued a buy rating to the company's stock. According to data from MarketBeat, the company presently has a consensus rating of "Hold" and a consensus target price of $27.63.

Daqo New Energy Stock Up 0.6 %

Shares of DQ stock traded up $0.11 on Monday, reaching $19.02. The company had a trading volume of 908,339 shares, compared to its average volume of 1,227,034. The business's 50-day moving average is $24.58 and its 200 day moving average is $23.63. Daqo New Energy has a one year low of $17.30 and a one year high of $44.86. The stock has a market capitalization of $1.25 billion, a PE ratio of 8.93 and a beta of 0.32.

Daqo New Energy (NYSE:DQ - Get Free Report) last announced its quarterly earnings results on Monday, April 29th. The semiconductor company reported $0.24 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.56 by ($0.32). Daqo New Energy had a return on equity of 2.46% and a net margin of 7.84%. The company had revenue of $415.31 million for the quarter, compared to analyst estimates of $491.90 million. During the same quarter last year, the company posted $3.52 earnings per share. On average, sell-side analysts forecast that Daqo New Energy will post 2.59 earnings per share for the current fiscal year.

Institutional Trading of Daqo New Energy

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. raised its holdings in shares of Daqo New Energy by 1.2% in the 3rd quarter. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. now owns 46,845 shares of the semiconductor company's stock worth $1,418,000 after acquiring an additional 566 shares during the last quarter. Quadrant Capital Group LLC lifted its holdings in shares of Daqo New Energy by 39.4% in the fourth quarter. Quadrant Capital Group LLC now owns 2,348 shares of the semiconductor company's stock valued at $62,000 after purchasing an additional 664 shares in the last quarter. PNC Financial Services Group Inc. boosted its position in shares of Daqo New Energy by 117.5% during the fourth quarter. PNC Financial Services Group Inc. now owns 1,588 shares of the semiconductor company's stock valued at $42,000 after buying an additional 858 shares during the last quarter. Aviva PLC grew its holdings in Daqo New Energy by 2.5% during the third quarter. Aviva PLC now owns 37,552 shares of the semiconductor company's stock worth $1,137,000 after buying an additional 900 shares in the last quarter. Finally, Van ECK Associates Corp raised its position in Daqo New Energy by 6.3% in the 3rd quarter. Van ECK Associates Corp now owns 26,088 shares of the semiconductor company's stock valued at $789,000 after buying an additional 1,537 shares during the last quarter. 47.22% of the stock is owned by institutional investors.

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.