DAQO New Energy (NYSE:DQ) Downgraded by Wall Street Zen to Strong Sell

Wall Street Zen downgraded shares of DAQO New Energy (NYSE:DQ) from a hold rating to a strong sell rating in a research note published on Saturday.

Several other equities analysts have also issued reports on the stock. New Street Research set a $18.13 price objective on shares of DAQO New Energy in a report on Tuesday, February 3rd. Glj Research lowered shares of DAQO New Energy from a “buy” rating to a “sell” rating and cut their price objective for the company from $30.51 to $18.13 in a report on Tuesday, February 3rd. Weiss Ratings reissued a “sell (d-)” rating on shares of DAQO New Energy in a report on Friday, March 27th. Finally, Roth Mkm set a $19.00 price target on shares of DAQO New Energy in a report on Thursday. One research analyst has rated the stock with a Strong Buy rating, one has given a Buy rating, two have given a Hold rating and two have assigned a Sell rating to the stock. According to data from MarketBeat, DAQO New Energy currently has a consensus rating of “Hold” and an average target price of $23.59.

DAQO New Energy Price Performance

Shares of DQ stock opened at $19.22 on Friday. The firm has a market cap of $1.30 billion, a price-to-earnings ratio of -6.91 and a beta of 0.66. The company’s 50 day moving average is $22.13 and its 200 day moving average is $26.57. DAQO New Energy has a 52-week low of $12.52 and a 52-week high of $36.59.

DAQO New Energy (NYSE:DQ) last issued its quarterly earnings data on Wednesday, April 29th. The semiconductor company reported ($1.31) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.13) by ($1.18). The business had revenue of $26.72 million for the quarter, compared to analysts’ expectations of $186.28 million. DAQO New Energy had a negative net margin of 32.92% and a negative return on equity of 3.19%. Analysts anticipate that DAQO New Energy will post -0.38 EPS for the current fiscal year.

Hedge Funds Weigh In On DAQO New Energy

Several institutional investors and hedge funds have recently bought and sold shares of the company. Continental General Insurance Co. grew its holdings in DAQO New Energy by 11.3% in the third quarter. Continental General Insurance Co. now owns 6,641,986 shares of the semiconductor company’s stock worth $186,839,000 after purchasing an additional 675,784 shares during the last quarter. Vanguard Group Inc. grew its holdings in DAQO New Energy by 0.9% in the fourth quarter. Vanguard Group Inc. now owns 1,753,947 shares of the semiconductor company’s stock worth $51,741,000 after purchasing an additional 15,159 shares during the last quarter. Polunin Capital Partners Ltd grew its holdings in DAQO New Energy by 13.6% in the fourth quarter. Polunin Capital Partners Ltd now owns 1,458,705 shares of the semiconductor company’s stock worth $43,032,000 after purchasing an additional 174,747 shares during the last quarter. Invesco Ltd. grew its holdings in DAQO New Energy by 22.6% in the fourth quarter. Invesco Ltd. now owns 1,429,565 shares of the semiconductor company’s stock worth $42,172,000 after purchasing an additional 263,614 shares during the last quarter. Finally, Mackenzie Financial Corp grew its holdings in DAQO New Energy by 9.1% in the fourth quarter. Mackenzie Financial Corp now owns 1,316,140 shares of the semiconductor company’s stock worth $38,934,000 after purchasing an additional 110,186 shares during the last quarter. 47.22% of the stock is owned by hedge funds and other 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.