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

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

Daqo New Energy Price Performance

DQ traded up $0.14 during midday trading on Tuesday, hitting $19.74. 909,866 shares of the company’s stock traded hands, compared to its average volume of 1,029,432. The company has a market cap of $1.30 billion, a PE ratio of -10.67 and a beta of 0.41. The stock’s fifty day simple moving average is $19.64 and its 200-day simple moving average is $19.54. Daqo New Energy has a one year low of $13.62 and a one year high of $30.85.

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

Institutional Investors Weigh In On Daqo New Energy

Large investors have recently bought and sold shares of the business. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its holdings 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 worth $2,765,000 after purchasing an additional 33,031 shares in the last quarter. Public Employees Retirement System of Ohio bought a new stake in Daqo New Energy in the third quarter worth $1,053,000. Ariose Capital Management Ltd boosted its holdings in Daqo New Energy by 27.5% in the fourth quarter. Ariose Capital Management Ltd now owns 1,505,709 shares of the semiconductor company’s stock worth $29,271,000 after purchasing an additional 324,585 shares in the last quarter. BNP Paribas Financial Markets boosted its holdings 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 worth $1,519,000 after purchasing an additional 27,223 shares in the last quarter. Finally, Geode Capital Management LLC boosted its holdings in Daqo New Energy by 9.2% in the third quarter. Geode Capital Management LLC now owns 33,546 shares of the semiconductor company’s stock worth $683,000 after purchasing an additional 2,813 shares in the last quarter. 47.22% of the stock is currently owned by institutional investors.

About Daqo New Energy

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.