Glj Research Reiterates Sell Rating for DAQO New Energy (NYSE:DQ)

DAQO New Energy (NYSE:DQ)‘s stock had its “sell” rating reissued by stock analysts at Glj Research in a report issued on Tuesday,Benzinga reports. They presently have a $18.13 price target on the semiconductor company’s stock, down from their prior price target of $30.51. Glj Research’s price target would suggest a potential downside of 25.89% from the stock’s current price.

Other equities research analysts also recently issued reports about the company. Weiss Ratings reiterated a “sell (d-)” rating on shares of DAQO New Energy in a report on Monday, December 29th. Roth Mkm set a $30.00 price target on shares of DAQO New Energy and gave the company a “neutral” rating in a report on Tuesday, October 28th. The Goldman Sachs Group set a $18.30 price objective on shares of DAQO New Energy and gave the company a “neutral” rating in a report on Wednesday, October 29th. Finally, Wall Street Zen upgraded shares of DAQO New Energy from a “sell” rating to a “hold” rating in a research report on Monday, November 3rd. One equities research analyst has rated the stock with a Strong Buy rating, two have given a Buy rating, two have given a Hold rating and two have issued a Sell rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average price target of $24.97.

DAQO New Energy Trading Down 1.0%

DAQO New Energy stock opened at $24.47 on Tuesday. DAQO New Energy has a 12 month low of $12.40 and a 12 month high of $36.59. The stock has a fifty day simple moving average of $29.45 and a two-hundred day simple moving average of $27.62. The firm has a market cap of $1.64 billion, a price-to-earnings ratio of -4.76 and a beta of 0.70.

Hedge Funds Weigh In On DAQO New Energy

Institutional investors have recently made changes to their positions in the business. Quarry LP purchased a new stake in shares of DAQO New Energy in the third quarter worth $26,000. Headlands Technologies LLC purchased a new position in shares of DAQO New Energy during the 2nd quarter valued at $29,000. Farther Finance Advisors LLC boosted its holdings in DAQO New Energy by 1,650.0% in the 4th quarter. Farther Finance Advisors LLC now owns 1,330 shares of the semiconductor company’s stock worth $39,000 after buying an additional 1,254 shares during the period. Pinpoint Asset Management Singapore Pte. Ltd. increased its stake in DAQO New Energy by 777.7% in the 3rd quarter. Pinpoint Asset Management Singapore Pte. Ltd. now owns 2,633 shares of the semiconductor company’s stock worth $74,000 after buying an additional 2,333 shares in the last quarter. Finally, Pictet Asset Management Holding SA increased its stake in DAQO New Energy by 134.5% in the 4th quarter. Pictet Asset Management Holding SA now owns 6,800 shares of the semiconductor company’s stock worth $201,000 after buying an additional 3,900 shares in the last quarter. Institutional investors own 47.22% of the company’s stock.

About DAQO New Energy

DAQO New Energy Corp. operates as a leading manufacturer of high-purity polysilicon and monocrystalline silicon wafers for the global solar photovoltaic industry. The company focuses on serving module makers and integrated solar producers with critical upstream materials, applying proprietary technologies and optimized processes to achieve high product purity and consistently low production costs. Its core offerings include solar-grade polysilicon—used in the ingot casting and wafer slicing stages—and premium mono-silicon wafers, which are a key input for high-efficiency solar cell production.

Founded in the late 2000s and listed on the New York Stock Exchange in 2010, DAQO New Energy established its first polysilicon facility in China’s Xinjiang Uygur Autonomous Region.