Daiwa Capital Markets Lowers Daqo New Energy (NYSE:DQ) to Neutral

Daqo New Energy (NYSE:DQ) was downgraded by research analysts at Daiwa Capital Markets from an “outperform” rating to a “neutral” rating in a research note issued on Tuesday, MarketBeat.com reports. They currently have a $32.00 target price on the semiconductor company’s stock, down from their previous target price of $45.00. Daiwa Capital Markets’ price target suggests a potential upside of 1.23% from the stock’s current price.

Other analysts have also issued research reports about the stock. StockNews.com assumed coverage on shares of Daqo New Energy in a report on Thursday, August 17th. They set a “hold” rating for the company. Nomura upgraded shares of Daqo New Energy from a “neutral” rating to a “buy” rating and set a $45.00 price objective for the company in a report on Friday, August 4th. TheStreet downgraded shares of Daqo New Energy from a “b-” rating to a “c+” rating in a research note on Monday, June 26th. Finally, HSBC reduced their price target on shares of Daqo New Energy from $42.80 to $38.70 and set a “hold” rating on the stock in a research report on Friday, August 4th. Four analysts have rated the stock with a hold rating and one has assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, Daqo New Energy has an average rating of “Hold” and a consensus target price of $46.43.

Daqo New Energy Stock Down 2.7 %

DQ stock opened at $31.61 on Tuesday. Daqo New Energy has a twelve month low of $31.42 and a twelve month high of $58.44. The company has a market cap of $2.44 billion, a P/E ratio of 2.30 and a beta of 0.54. The business has a fifty day moving average of $36.32 and a 200-day moving average of $40.86.

Daqo New Energy (NYSE:DQ) last released its earnings results on Thursday, August 3rd. The semiconductor company reported $1.34 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $5.79 by ($4.45). The business had revenue of $636.72 million for the quarter, compared to analyst estimates of $1.22 billion. Daqo New Energy had a net margin of 31.45% and a return on equity of 16.65%. As a group, equities research analysts anticipate that Daqo New Energy will post 9.29 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in the stock. Toroso Investments LLC bought a new stake in Daqo New Energy in the 3rd quarter valued at $35,000. Mondrian Investment Partners LTD grew its holdings in shares of Daqo New Energy by 35.6% during the first quarter. Mondrian Investment Partners LTD now owns 1,116 shares of the semiconductor company’s stock worth $52,000 after buying an additional 293 shares in the last quarter. Ronald Blue Trust Inc. raised its position in Daqo New Energy by 47.4% in the 1st quarter. Ronald Blue Trust Inc. now owns 2,121 shares of the semiconductor company’s stock valued at $82,000 after buying an additional 682 shares during the last quarter. US Bancorp DE lifted its stake in Daqo New Energy by 89.0% in the 1st quarter. US Bancorp DE now owns 1,981 shares of the semiconductor company’s stock valued at $82,000 after acquiring an additional 933 shares in the last quarter. Finally, Seaport Global Advisors LLC lifted its stake in Daqo New Energy by 20.1% in the 4th quarter. Seaport Global Advisors LLC now owns 2,781 shares of the semiconductor company’s stock valued at $107,000 after acquiring an additional 465 shares in the last quarter. Institutional investors and hedge funds own 57.38% 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.