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

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

Daqo New Energy Stock Up 3.8 %

NYSE DQ opened at $20.53 on Tuesday. Daqo New Energy has a 52 week low of $13.62 and a 52 week high of $30.85. The business’s fifty day simple moving average is $19.64 and its 200-day simple moving average is $19.55. The firm has a market cap of $1.35 billion, a PE ratio of -11.09 and a beta of 0.41.

Daqo New Energy (NYSE:DQ) last issued 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 company had revenue of $195.36 million during 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%. Research analysts expect that Daqo New Energy will post -3.5 EPS for the current year.

Hedge Funds Weigh In On Daqo New Energy

Several institutional investors have recently bought and sold shares of DQ. KBC Group NV lifted its stake in Daqo New Energy by 12.9% during the third quarter. KBC Group NV now owns 25,244 shares of the semiconductor company’s stock worth $514,000 after purchasing an additional 2,877 shares during the last quarter. Daiwa Securities Group Inc. lifted its stake in Daqo New Energy by 15.4% in the third quarter. Daiwa Securities Group Inc. now owns 10,500 shares of the semiconductor company’s stock valued at $214,000 after buying an additional 1,400 shares during the last quarter. BNP Paribas Financial Markets lifted its stake in Daqo New Energy by 57.5% in the third quarter. BNP Paribas Financial Markets now owns 74,571 shares of the semiconductor company’s stock valued at $1,519,000 after buying an additional 27,223 shares during the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its stake in Daqo New Energy by 32.2% in the third 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 buying an additional 33,031 shares during the last quarter. Finally, Point72 Asia Singapore Pte. Ltd. raised its stake in shares of 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 worth $285,000 after purchasing an additional 5,570 shares during the last quarter. 47.22% of the stock is 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.