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 research report report published on Monday.

Daqo New Energy Stock Down 3.2 %

DQ stock opened at $19.58 on Monday. The firm has a market cap of $1.29 billion, a price-to-earnings ratio of -10.59 and a beta of 0.25. Daqo New Energy has a 12-month low of $13.62 and a 12-month high of $30.85. The company’s fifty day simple moving average is $19.84 and its 200 day simple moving average is $19.26.

Daqo New Energy (NYSE:DQ) last released its earnings results 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 firm had revenue of $195.36 million during 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%. Research analysts expect that Daqo New Energy will post -3.5 earnings per share for the current year.

Hedge Funds Weigh In On Daqo New Energy

Several institutional investors have recently made changes to their positions in the stock. Continental General Insurance Co. raised its holdings in shares of Daqo New Energy by 5.8% during the fourth quarter. Continental General Insurance Co. now owns 5,916,202 shares of the semiconductor company’s stock valued at $115,011,000 after purchasing an additional 322,084 shares during the period. Greenwoods Asset Management Hong Kong Ltd. raised its holdings in shares of Daqo New Energy by 5,286.6% during the fourth quarter. Greenwoods Asset Management Hong Kong Ltd. now owns 2,714,780 shares of the semiconductor company’s stock valued at $52,775,000 after purchasing an additional 2,664,381 shares during the period. Ariose Capital Management Ltd raised its holdings in shares of Daqo New Energy by 27.5% during the fourth quarter. Ariose Capital Management Ltd now owns 1,505,709 shares of the semiconductor company’s stock valued at $29,271,000 after purchasing an additional 324,585 shares during the period. Point72 Asset Management L.P. raised its holdings in shares of Daqo New Energy by 67.5% during the fourth quarter. Point72 Asset Management L.P. now owns 886,655 shares of the semiconductor company’s stock valued at $17,237,000 after purchasing an additional 357,460 shares during the period. Finally, State Street Corp raised its holdings in shares of Daqo New Energy by 1.1% during the third quarter. State Street Corp now owns 842,921 shares of the semiconductor company’s stock valued at $17,170,000 after purchasing an additional 8,983 shares during the period. Institutional investors and hedge funds own 47.22% of the company’s stock.

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.