Daqo New Energy (NYSE:DQ) Upgraded at StockNews.com

StockNews.com upgraded shares of Daqo New Energy (NYSE:DQ) to a sell rating in a report issued on Tuesday morning.

Daqo New Energy Stock Down 2.2 %

Daqo New Energy stock opened at $20.05 on Tuesday. The company has a market capitalization of $1.32 billion, a PE ratio of -10.84 and a beta of 0.41. Daqo New Energy has a 12-month low of $13.62 and a 12-month high of $30.85. The firm’s fifty day moving average is $19.63 and its 200 day moving average is $19.55.

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

Hedge Funds Weigh In On Daqo New Energy

Large investors have recently modified their holdings of the company. KBC Group NV lifted its stake in shares of Daqo New Energy by 12.9% in the third quarter. KBC Group NV now owns 25,244 shares of the semiconductor company’s stock valued at $514,000 after buying an additional 2,877 shares in the last quarter. Daiwa Securities Group Inc. raised its holdings 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 acquiring an additional 1,400 shares during the last quarter. BNP Paribas Financial Markets lifted its position in Daqo New Energy by 57.5% in the 3rd quarter. BNP Paribas Financial Markets now owns 74,571 shares of the semiconductor company’s stock valued at $1,519,000 after acquiring an additional 27,223 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its stake in Daqo New Energy by 32.2% during the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 135,732 shares of the semiconductor company’s stock valued at $2,765,000 after purchasing an additional 33,031 shares during the last quarter. Finally, Point72 Asia Singapore Pte. Ltd. increased its holdings in Daqo New Energy by 66.1% during 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 in the last quarter. 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.