The Goldman Sachs Group Downgrades Daqo New Energy (NYSE:DQ) to Neutral

Daqo New Energy (NYSE:DQ) was downgraded by equities research analysts at The Goldman Sachs Group from a “buy” rating to a “neutral” rating in a report issued on Tuesday, Marketbeat.com reports. They presently have a $17.00 price objective on the semiconductor company’s stock. The Goldman Sachs Group’s price target suggests a potential upside of 20.23% from the company’s current price.

Separately, StockNews.com upgraded Daqo New Energy to a “sell” rating in a research report on Tuesday, March 18th. One investment analyst has rated the stock with a sell rating, two have issued a hold rating, three have given a buy rating and three have assigned a strong buy rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $21.21.

Daqo New Energy Stock Down 2.0 %

Shares of NYSE:DQ opened at $14.14 on Tuesday. The firm has a fifty day simple moving average of $18.62 and a two-hundred day simple moving average of $19.54. The stock has a market capitalization of $933.34 million, a P/E ratio of -7.64 and a beta of 0.37. Daqo New Energy has a 52 week low of $12.90 and a 52 week high of $30.85.

Daqo New Energy (NYSE:DQ) last issued its quarterly earnings data on Thursday, February 27th. The semiconductor company reported ($2.71) earnings per share for the quarter, missing the consensus estimate of ($0.69) by ($2.02). The company had revenue of $195.36 million for the quarter, compared to the consensus estimate of $153.54 million. Daqo New Energy had a negative return on equity of 1.90% and a negative net margin of 9.16%. On average, analysts expect that Daqo New Energy will post -3.5 earnings per share for the current year.

Hedge Funds Weigh In On Daqo New Energy

Several hedge funds have recently bought and sold shares of DQ. SG Americas Securities LLC purchased a new stake in shares of Daqo New Energy during the first quarter valued at $9,372,000. Point72 Asset Management L.P. lifted its holdings in Daqo New Energy by 67.5% during the 4th quarter. Point72 Asset Management L.P. now owns 886,655 shares of the semiconductor company’s stock valued at $17,237,000 after buying an additional 357,460 shares in the last quarter. Point72 Europe London LLP purchased a new stake in Daqo New Energy in the 4th quarter valued at about $3,742,000. Point72 Hong Kong Ltd bought a new position in Daqo New Energy in the 4th quarter worth about $3,287,000. Finally, Nuveen Asset Management LLC increased its position in shares of Daqo New Energy by 16.7% during the fourth quarter. Nuveen Asset Management LLC now owns 39,200 shares of the semiconductor company’s stock worth $762,000 after acquiring an additional 5,600 shares during the period. Institutional investors 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.