Daqo New Energy (NYSE:DQ) Stock Rating Upgraded by StockNews.com

StockNews.com upgraded shares of Daqo New Energy (NYSE:DQ) to a sell rating in a research report report published on Monday.

A number of other analysts also recently issued reports on DQ. Nomura Securities upgraded Daqo New Energy to a strong-buy rating in a research report on Wednesday, August 28th. Hsbc Global Res upgraded shares of Daqo New Energy from a moderate sell rating to a hold rating in a report on Tuesday, August 27th. HSBC upgraded shares of Daqo New Energy from a reduce rating to a hold rating and set a $15.00 price target on the stock in a report on Tuesday, August 27th. The Goldman Sachs Group started coverage on shares of Daqo New Energy in a research note on Thursday, July 11th. They issued a buy rating for the company. Finally, Roth Mkm cut their target price on Daqo New Energy from $23.00 to $15.00 and set a neutral rating on the stock in a research note on Wednesday, August 28th. Two analysts have rated the stock with a sell rating, three have assigned a hold rating, two have assigned a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of Hold and a consensus target price of $22.26.

Daqo New Energy Stock Down 3.2 %

DQ stock opened at $17.01 on Monday. The company has a fifty day simple moving average of $15.98 and a two-hundred day simple moving average of $19.45. Daqo New Energy has a 52 week low of $13.62 and a 52 week high of $31.19. The firm has a market capitalization of $1.12 billion, a P/E ratio of 7.98 and a beta of 0.30.

Daqo New Energy (NYSE:DQ) last issued its quarterly earnings data on Monday, August 26th. The semiconductor company reported ($1.81) earnings per share for the quarter, missing the consensus estimate of ($0.56) by ($1.25). The company had revenue of $219.91 million for the quarter, compared to the consensus estimate of $406.50 million. Daqo New Energy had a negative return on equity of 1.04% and a negative net margin of 4.11%. During the same period in the previous year, the firm earned $1.34 earnings per share. As a group, analysts anticipate that Daqo New Energy will post -3.35 EPS for the current year.

Daqo New Energy declared that its Board of Directors has approved a share buyback program on Monday, July 22nd that authorizes the company to buyback $100.00 million in outstanding shares. This buyback authorization authorizes the semiconductor company to repurchase up to 8.6% of its shares through open market purchases. Shares buyback programs are usually an indication that the company’s board believes its stock is undervalued.

Institutional Trading of Daqo New Energy

Large investors have recently modified their holdings of the company. Quadrant Capital Group LLC lifted its stake in 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 worth $62,000 after acquiring an additional 664 shares during the period. PNC Financial Services Group Inc. lifted its holdings in 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 worth $42,000 after buying an additional 858 shares during the period. Rhumbline Advisers lifted its holdings in Daqo New Energy by 22.2% during the second quarter. Rhumbline Advisers now owns 8,104 shares of the semiconductor company’s stock worth $118,000 after buying an additional 1,470 shares during the period. Shell Asset Management Co. boosted its position in Daqo New Energy by 20.6% during the 1st quarter. Shell Asset Management Co. now owns 10,734 shares of the semiconductor company’s stock valued at $302,000 after acquiring an additional 1,834 shares in the last quarter. Finally, Blue Trust Inc. increased its holdings in shares of Daqo New Energy by 12,187.5% in the 2nd quarter. Blue Trust Inc. now owns 1,966 shares of the semiconductor company’s stock valued at $29,000 after acquiring an additional 1,950 shares during the period. 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.