Daqo New Energy’s (DQ) Reduce Rating Reaffirmed at HSBC

HSBC reiterated their reduce rating on shares of Daqo New Energy (NYSE:DQ) in a report issued on Monday, MarketBeat Ratings reports. They currently have a $17.50 price target on the semiconductor company’s stock, down from their previous price target of $23.50.

Several other equities research analysts have also commented on DQ. Roth Mkm restated a neutral rating and set a $23.00 price target on shares of Daqo New Energy in a research note on Tuesday, April 30th. Daiwa Capital Markets reissued an underperform rating and set a $25.00 target price on shares of Daqo New Energy in a research report on Friday, March 15th. Two equities research analysts have rated the stock with a sell rating, two have assigned a hold rating and one has given a buy rating to the company’s stock. Based on data from MarketBeat, Daqo New Energy currently has an average rating of Hold and a consensus price target of $27.63.

Daqo New Energy Stock Performance

DQ opened at $18.99 on Monday. Daqo New Energy has a 1 year low of $17.30 and a 1 year high of $44.08. The company’s 50 day simple moving average is $24.48 and its 200 day simple moving average is $23.47. The stock has a market capitalization of $1.25 billion, a PE ratio of 8.92 and a beta of 0.32.

Daqo New Energy (NYSE:DQ) last posted its quarterly earnings results on Monday, April 29th. The semiconductor company reported $0.24 earnings per share for the quarter, missing analysts’ consensus estimates 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 analysts’ expectations of $491.90 million. During the same period in the prior year, the business earned $3.52 EPS. As a group, sell-side analysts expect that Daqo New Energy will post 2.59 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Daqo New Energy

Large investors have recently modified their holdings of the stock. PNC Financial Services Group Inc. lifted its position in Daqo New Energy by 117.5% during the 4th quarter. PNC Financial Services Group Inc. now owns 1,588 shares of the semiconductor company’s stock worth $42,000 after acquiring an additional 858 shares in the last quarter. Quadrant Capital Group LLC raised its stake in shares of Daqo New Energy by 39.4% during 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 during the period. Signaturefd LLC lifted its position in shares of Daqo New Energy by 112.4% during the fourth quarter. Signaturefd LLC now owns 6,839 shares of the semiconductor company’s stock worth $182,000 after purchasing an additional 3,619 shares in the last quarter. Daiwa Securities Group Inc. purchased a new position in shares of Daqo New Energy in the first quarter valued at $256,000. Finally, Capstone Investment Advisors LLC acquired a new stake in Daqo New Energy during the 1st quarter valued at $264,000. 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.