Zacks Research Upgrades DAQO New Energy (NYSE:DQ) to “Hold”

DAQO New Energy (NYSE:DQ) was upgraded by stock analysts at Zacks Research from a “strong sell” rating to a “hold” rating in a report issued on Monday,Zacks.com reports.

DQ has been the subject of a number of other reports. Roth Mkm set a $19.00 price objective on shares of DAQO New Energy in a research report on Thursday, April 30th. Weiss Ratings downgraded shares of DAQO New Energy from a “sell (d-)” rating to a “sell (e+)” rating in a report on Wednesday, June 17th. Finally, Wall Street Zen lowered shares of DAQO New Energy from a “hold” rating to a “strong sell” rating in a research report on Saturday, May 2nd. One investment analyst has rated the stock with a Strong Buy rating, one has assigned a Buy rating, three have given a Hold rating and two have assigned a Sell rating to the company’s stock. Based on data from MarketBeat, DAQO New Energy currently has a consensus rating of “Hold” and a consensus target price of $23.59.

DAQO New Energy Price Performance

Shares of DQ stock opened at $13.40 on Monday. DAQO New Energy has a one year low of $12.46 and a one year high of $36.59. The firm has a 50-day moving average of $17.26 and a 200-day moving average of $22.38. The company has a market cap of $906.51 million, a P/E ratio of -4.82 and a beta of 0.61.

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

Institutional Trading of DAQO New Energy

Hedge funds have recently made changes to their positions in the stock. Quarry LP purchased a new position in shares of DAQO New Energy in the 3rd quarter worth about $26,000. Farther Finance Advisors LLC increased its stake in shares of DAQO New Energy by 1,650.0% during the fourth quarter. Farther Finance Advisors LLC now owns 1,330 shares of the semiconductor company’s stock valued at $39,000 after buying an additional 1,254 shares during the period. Caitong International Asset Management Co. Ltd bought a new stake in DAQO New Energy in the fourth quarter valued at $49,000. Banque Cantonale Vaudoise bought a new position in DAQO New Energy in the 4th quarter worth $55,000. Finally, Headlands Technologies LLC purchased a new stake in shares of DAQO New Energy in the 2nd quarter worth about $29,000. 47.22% of the stock is owned by institutional investors.

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.