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

Daqo New Energy (NYSE:DQ) was upgraded by equities researchers at StockNews.com to a “sell” rating in a research note issued on Monday.

Daqo New Energy Stock Down 8.0 %

DQ traded down $1.63 during mid-day trading on Monday, reaching $18.62. 872,534 shares of the company traded hands, compared to its average volume of 814,257. The stock has a market capitalization of $1.23 billion, a P/E ratio of -10.06 and a beta of 0.25. Daqo New Energy has a 52-week low of $13.62 and a 52-week high of $30.85. The company’s fifty day moving average price is $19.82 and its 200-day moving average price is $19.22.

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

Institutional Trading of Daqo New Energy

Large investors have recently added to or reduced their stakes in the business. Generali Investments CEE investicni spolecnost a.s. bought a new position in Daqo New Energy in the fourth quarter worth approximately $52,000. Daiwa Securities Group Inc. increased its stake in shares of Daqo New Energy by 15.4% in the 3rd quarter. Daiwa Securities Group Inc. now owns 10,500 shares of the semiconductor company’s stock worth $214,000 after purchasing an additional 1,400 shares in the last quarter. Point72 Asia Singapore Pte. Ltd. raised its holdings in Daqo New Energy by 66.1% in the 3rd quarter. Point72 Asia Singapore Pte. Ltd. now owns 14,000 shares of the semiconductor company’s stock worth $285,000 after purchasing an additional 5,570 shares during the period. Diametric Capital LP lifted its position in Daqo New Energy by 25.5% during the fourth quarter. Diametric Capital LP now owns 16,018 shares of the semiconductor company’s stock valued at $311,000 after purchasing an additional 3,255 shares in the last quarter. Finally, Van ECK Associates Corp grew its holdings in Daqo New Energy by 7.6% during the fourth quarter. Van ECK Associates Corp now owns 20,067 shares of the semiconductor company’s stock valued at $390,000 after purchasing an additional 1,410 shares during the period. 47.22% of the stock is currently owned by institutional investors.

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.