Daqo New Energy (NYSE:DQ) Raised to “Sell” at StockNews.com

Daqo New Energy (NYSE:DQ) was upgraded by stock analysts at StockNews.com to a “sell” rating in a report issued on Tuesday.

Daqo New Energy Price Performance

Shares of DQ traded up $0.14 during mid-day trading on Tuesday, hitting $19.74. The company’s stock had a trading volume of 909,866 shares, compared to its average volume of 1,029,432. The firm has a 50-day moving average price of $19.64 and a 200 day moving average price of $19.54. The stock has a market capitalization of $1.30 billion, a price-to-earnings ratio of -10.67 and a beta of 0.41. Daqo New Energy has a fifty-two week low of $13.62 and a fifty-two week high of $30.85.

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

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently made changes to their positions in the company. Generali Investments CEE investicni spolecnost a.s. acquired a new position in shares of Daqo New Energy in the fourth quarter worth about $52,000. Daiwa Securities Group Inc. grew its position in Daqo New Energy by 15.4% during the third quarter. Daiwa Securities Group Inc. now owns 10,500 shares of the semiconductor company’s stock valued at $214,000 after purchasing an additional 1,400 shares in the last quarter. Point72 Asia Singapore Pte. Ltd. grew its position in Daqo New Energy by 66.1% during the third quarter. Point72 Asia Singapore Pte. Ltd. now owns 14,000 shares of the semiconductor company’s stock valued at $285,000 after purchasing an additional 5,570 shares in the last quarter. Diametric Capital LP increased its stake in Daqo New Energy by 25.5% in the 4th quarter. Diametric Capital LP now owns 16,018 shares of the semiconductor company’s stock valued at $311,000 after buying an additional 3,255 shares during the period. Finally, Van ECK Associates Corp lifted its position in Daqo New Energy by 7.6% in the 4th quarter. Van ECK Associates Corp now owns 20,067 shares of the semiconductor company’s stock worth $390,000 after buying an additional 1,410 shares in the last quarter. 47.22% of the stock is currently owned by institutional investors and hedge funds.

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.