Daqo New Energy (NYSE:DQ) Rating Lowered to “Neutral” at The Goldman Sachs Group

Daqo New Energy (NYSE:DQ) was downgraded by equities research analysts at The Goldman Sachs Group from a “buy” rating to a “neutral” rating in a note issued to investors on Tuesday, Marketbeat.com reports. They currently have a $17.00 target price on the semiconductor company’s stock. The Goldman Sachs Group’s price objective indicates a potential upside of 20.23% from the stock’s current price.

Separately, StockNews.com raised Daqo New Energy to a “sell” rating in a research report on Tuesday, March 18th. One equities research analyst has rated the stock with a sell rating, two have given a hold rating, three have given a buy rating and three have assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, Daqo New Energy has an average rating of “Moderate Buy” and an average target price of $21.21.

Daqo New Energy Stock Performance

NYSE:DQ opened at $14.14 on Tuesday. The firm has a 50-day simple moving average of $18.62 and a 200-day simple moving average of $19.54. Daqo New Energy has a one year low of $12.90 and a one year high of $30.85. The firm has a market cap of $933.34 million, a P/E ratio of -7.64 and a beta of 0.37.

Daqo New Energy (NYSE:DQ) last issued 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 business had revenue of $195.36 million during the quarter, compared to the consensus estimate of $153.54 million. Daqo New Energy had a negative return on equity of 1.90% and a negative net margin of 9.16%. On average, research analysts predict that Daqo New Energy will post -3.5 EPS for the current fiscal year.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently added to or reduced their stakes in the business. Greenwoods Asset Management Hong Kong Ltd. raised its stake in Daqo New Energy by 5,286.6% in 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 buying an additional 2,664,381 shares during the last quarter. Prudential PLC acquired a new position in shares of Daqo New Energy during the fourth quarter valued at about $14,775,000. SG Americas Securities LLC purchased a new position in shares of Daqo New Energy in the 1st quarter valued at approximately $9,372,000. Point72 Asset Management L.P. boosted its stake in Daqo New Energy by 67.5% in the 4th quarter. Point72 Asset Management L.P. now owns 886,655 shares of the semiconductor company’s stock worth $17,237,000 after purchasing an additional 357,460 shares in the last quarter. Finally, Ariose Capital Management Ltd grew its position in Daqo New Energy by 27.5% during the 4th 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 during the last quarter. 47.22% of the stock is currently owned by hedge funds and other 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.