DAQO New Energy (NYSE:DQ) Downgraded by Zacks Research to Strong Sell

Zacks Research cut shares of DAQO New Energy (NYSE:DQ) from a hold rating to a strong sell rating in a report published on Monday morning,Zacks.com reports.

Other research analysts also recently issued reports about the company. Wall Street Zen downgraded DAQO New Energy from a “hold” rating to a “strong sell” rating in a report on Saturday. New Street Research set a $18.13 price objective on DAQO New Energy in a research report on Tuesday, February 3rd. Roth Mkm set a $19.00 target price on DAQO New Energy in a research note on Thursday, April 30th. Weiss Ratings reiterated a “sell (d-)” rating on shares of DAQO New Energy in a report on Friday, March 27th. Finally, Glj Research lowered shares of DAQO New Energy from a “buy” rating to a “sell” rating and decreased their price target for the company from $30.51 to $18.13 in a research report on Tuesday, February 3rd. One research analyst has rated the stock with a Strong Buy rating, one has assigned a Buy rating, two have assigned a Hold rating and three have issued a Sell rating to the company. Based on data from MarketBeat, DAQO New Energy currently has an average rating of “Hold” and an average price target of $23.59.

DAQO New Energy Stock Performance

Shares of DQ opened at $20.00 on Monday. The company has a 50 day moving average price of $22.04 and a 200-day moving average price of $26.52. DAQO New Energy has a fifty-two week low of $12.72 and a fifty-two week high of $36.59. The stock has a market capitalization of $1.35 billion, a PE ratio of -7.19 and a beta of 0.66.

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

Institutional Trading of DAQO New Energy

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

About DAQO New Energy

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.