Daqo New Energy (NYSE:DQ) Downgraded by ValuEngine to Sell

ValuEngine cut shares of Daqo New Energy (NYSE:DQ) from a hold rating to a sell rating in a research note issued to investors on Tuesday, ValuEngine reports.

DQ has been the topic of a number of other reports. Zacks Investment Research raised Daqo New Energy from a sell rating to a hold rating in a research report on Tuesday, October 15th. Roth Capital reaffirmed a buy rating on shares of Daqo New Energy in a research report on Wednesday, August 14th.

Shares of DQ opened at $39.40 on Tuesday. The business’s 50 day moving average is $46.48 and its two-hundred day moving average is $42.16. Daqo New Energy has a 52-week low of $20.35 and a 52-week high of $53.49. The firm has a market cap of $433.15 million, a price-to-earnings ratio of 18.25, a PEG ratio of 0.74 and a beta of 1.65. The company has a quick ratio of 0.48, a current ratio of 0.56 and a debt-to-equity ratio of 0.28.

Daqo New Energy (NYSE:DQ) last announced its earnings results on Wednesday, August 14th. The semiconductor company reported ($0.20) earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of ($0.11) by ($0.09). Daqo New Energy had a negative net margin of 0.85% and a positive return on equity of 5.57%. The business had revenue of $65.96 million during the quarter, compared to analyst estimates of $69.80 million. During the same period in the previous year, the company earned $1.36 earnings per share. On average, equities analysts expect that Daqo New Energy will post 1.86 earnings per share for the current fiscal year.

Several hedge funds have recently bought and sold shares of DQ. Harvest Fund Management Co. Ltd raised its position in shares of Daqo New Energy by 250.6% during the 2nd quarter. Harvest Fund Management Co. Ltd now owns 454,211 shares of the semiconductor company’s stock valued at $19,245,000 after acquiring an additional 324,657 shares in the last quarter. Morgan Stanley grew its stake in Daqo New Energy by 63.8% during the 2nd quarter. Morgan Stanley now owns 573,297 shares of the semiconductor company’s stock worth $24,290,000 after buying an additional 223,193 shares during the last quarter. JPMorgan Chase & Co. grew its stake in Daqo New Energy by 1,524.3% during the 2nd quarter. JPMorgan Chase & Co. now owns 59,141 shares of the semiconductor company’s stock worth $2,468,000 after buying an additional 55,500 shares during the last quarter. Elephas Investment Management Ltd bought a new position in Daqo New Energy during the 2nd quarter worth $2,134,000. Finally, BosValen Asset Management Ltd bought a new position in Daqo New Energy during the 2nd quarter worth $1,700,000. 36.86% 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 and wafers in the People's Republic of China. It operates through two segments, Polysilicon and Wafers. The company offers polysilicon to photovoltaic product manufacturers who further process its polysilicon into ingots, wafers, cells, and modules for solar power solutions.

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