DAQO New Energy Corp. (NYSE:DQ) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a research note issued on Monday.

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. “

Several other research analysts have also recently weighed in on DQ. Roth Capital set a $35.00 price target on shares of DAQO New Energy Corp. and gave the company a “buy” rating in a report on Saturday, May 13th. BidaskClub raised shares of DAQO New Energy Corp. from a “sell” rating to a “hold” rating in a report on Monday, July 24th.

Shares of DAQO New Energy Corp. (NYSE DQ) opened at 26.57 on Monday. DAQO New Energy Corp. has a 52-week low of $18.01 and a 52-week high of $30.80. The company’s 50-day moving average price is $23.41 and its 200-day moving average price is $22.09. The firm has a market capitalization of $279.49 million, a P/E ratio of 4.83 and a beta of 1.75.

DAQO New Energy Corp. (NYSE:DQ) last released its quarterly earnings results on Tuesday, August 8th. The semiconductor company reported $1.19 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $1.38 by $0.19. The company had revenue of $76 million during the quarter, compared to the consensus estimate of $71.80 million. DAQO New Energy Corp. had a net margin of 19.35% and a return on equity of 18.90%. During the same period in the prior year, the company earned $1.87 earnings per share. On average, equities research analysts expect that DAQO New Energy Corp. will post $5.21 EPS for the current fiscal year.

WARNING: “DAQO New Energy Corp. (DQ) Stock Rating Lowered by Zacks Investment Research” was published by The Cerbat Gem and is the property of of The Cerbat Gem. If you are reading this report on another publication, it was illegally copied and republished in violation of United States and international copyright and trademark law. The legal version of this report can be viewed at https://www.thecerbatgem.com/2017/08/16/daqo-new-energy-corp-dq-stock-rating-lowered-by-zacks-investment-research.html.

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Acadian Asset Management LLC boosted its position in DAQO New Energy Corp. by 2,167.5% in the first quarter. Acadian Asset Management LLC now owns 161,783 shares of the semiconductor company’s stock valued at $3,036,000 after buying an additional 154,648 shares in the last quarter. State of Wisconsin Investment Board bought a new position in DAQO New Energy Corp. during the first quarter valued at $217,000. Trexquant Investment LP bought a new position in DAQO New Energy Corp. during the first quarter valued at $196,000. Rational Advisors LLC boosted its position in DAQO New Energy Corp. by 18.4% in the first quarter. Rational Advisors LLC now owns 5,800 shares of the semiconductor company’s stock valued at $109,000 after buying an additional 900 shares in the last quarter. Finally, Ecofin Ltd. bought a new position in DAQO New Energy Corp. during the first quarter valued at $1,583,000. 31.67% of the stock is currently owned by hedge funds and other institutional investors.

About DAQO New Energy Corp.

Daqo New Energy Corp. is a polysilicon manufacturer. The Company utilizes the chemical vapor deposition process, or the modified Siemens process, to produce polysilicon. The Company’s segments include Polysilicon and Wafer. The Company manufactures and sells polysilicon to photovoltaic product manufacturers, whereby the polysilicon is processed into ingots, wafers, cells and modules for solar power solutions.

Receive News & Stock Ratings for DAQO New Energy Corp. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for DAQO New Energy Corp. and related stocks with our FREE daily email newsletter.