DAQO New Energy (NYSE:DQ) Rating Increased to Hold at Zacks Research

Zacks Research upgraded shares of DAQO New Energy (NYSE:DQ) from a strong sell rating to a hold rating in a research note issued to investors on Monday morning,Zacks.com reports.

Other equities research analysts have also recently issued research reports about the company. Wall Street Zen cut DAQO New Energy from a “hold” rating to a “strong sell” rating in a report on Saturday, May 2nd. Roth Mkm set a $19.00 target price on DAQO New Energy in a report on Thursday, April 30th. Finally, Weiss Ratings downgraded DAQO New Energy from a “sell (d-)” rating to a “sell (e+)” rating in a research note on Wednesday, June 17th. One investment analyst has rated the stock with a Strong Buy rating, one has issued a Buy rating, three have issued a Hold rating and two have assigned a Sell rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Hold” and an average price target of $23.59.

DAQO New Energy Stock Up 2.7%

NYSE:DQ opened at $13.40 on Monday. The firm’s fifty day simple moving average is $17.26 and its 200-day simple moving average is $22.38. The stock has a market cap of $906.51 million, a PE ratio of -4.82 and a beta of 0.61. DAQO New Energy has a fifty-two week low of $12.46 and a fifty-two week high of $36.59.

DAQO New Energy (NYSE:DQ) last issued its earnings results on Wednesday, April 29th. The semiconductor company reported ($1.31) earnings per share for the quarter, missing the consensus estimate of ($0.13) by ($1.18). DAQO New Energy had a negative return on equity of 3.19% and a negative net margin of 32.92%.The company had revenue of $26.72 million for the quarter, compared to analyst estimates of $186.28 million. Equities analysts anticipate that DAQO New Energy will post -1.31 earnings per share for the current year.

Institutional Trading of DAQO New Energy

A number of large investors have recently made changes to their positions in DQ. Ariose Capital Management Ltd lifted its stake in shares of DAQO New Energy by 35.0% during the fourth quarter. Ariose Capital Management Ltd now owns 457,155 shares of the semiconductor company’s stock valued at $13,486,000 after buying an additional 118,500 shares during the period. Harvest Fund Management Co. Ltd acquired a new stake in DAQO New Energy during the third quarter worth approximately $7,096,000. Polunin Capital Partners Ltd grew its stake in DAQO New Energy by 13.6% in the 4th quarter. Polunin Capital Partners Ltd now owns 1,458,705 shares of the semiconductor company’s stock worth $43,032,000 after acquiring an additional 174,747 shares during the period. JPMorgan Chase & Co. grew its stake in DAQO New Energy by 165.4% in the 3rd quarter. JPMorgan Chase & Co. now owns 96,270 shares of the semiconductor company’s stock worth $2,708,000 after acquiring an additional 60,002 shares during the period. Finally, Wolf Hill Capital Management LP acquired a new position in DAQO New Energy in the 3rd quarter valued at $11,623,000. Institutional investors and hedge funds own 47.22% of the company’s stock.

DAQO New Energy Company Profile

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.