DAQO New Energy Corp. (DQ) Stock Rating Upgraded by BidaskClub

DAQO New Energy Corp. (NYSE:DQ) was upgraded by equities research analysts at BidaskClub from a “sell” rating to a “hold” rating in a note issued to investors on Monday.

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A number of other research analysts have also recently commented on the company. Zacks Investment Research cut DAQO New Energy Corp. from a “hold” rating to a “sell” rating in a research note on Tuesday, April 11th. Roth Capital set a $35.00 price target on DAQO New Energy Corp. and gave the company a “buy” rating in a research note on Monday, June 26th.

Shares of DAQO New Energy Corp. (NYSE DQ) opened at 24.83 on Monday. The firm has a market capitalization of $261.19 million, a PE ratio of 4.51 and a beta of 1.72. DAQO New Energy Corp. has a 52 week low of $18.01 and a 52 week high of $27.60. The company’s 50 day moving average price is $20.65 and its 200-day moving average price is $21.67.

DAQO New Energy Corp. (NYSE:DQ) last announced its quarterly earnings results on Tuesday, May 9th. The semiconductor company reported $2.23 EPS for the quarter, beating the Zacks’ consensus estimate of $1.47 by $0.76. DAQO New Energy Corp. had a return on equity of 22.97% and a net margin of 22.75%. The company had revenue of $83.81 million during the quarter, compared to analysts’ expectations of $72.50 million. During the same period in the prior year, the company earned $1.12 EPS. On average, equities research analysts expect that DAQO New Energy Corp. will post $4.98 EPS for the current fiscal year.

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A number of hedge funds and other institutional investors have recently made changes to their positions in DQ. ClariVest Asset Management LLC raised its position in shares of DAQO New Energy Corp. by 5.4% in the first quarter. ClariVest Asset Management LLC now owns 10,713 shares of the semiconductor company’s stock valued at $201,000 after buying an additional 546 shares in the last quarter. Rational Advisors LLC raised its position in shares of DAQO New Energy Corp. by 18.4% in the first quarter. Rational Advisors LLC now owns 5,800 shares of the semiconductor company’s stock valued at $109,000 after buying an additional 900 shares in the last quarter. Trexquant Investment LP bought a new position in shares of DAQO New Energy Corp. during the first quarter valued at about $196,000. State of Wisconsin Investment Board bought a new position in shares of DAQO New Energy Corp. during the first quarter valued at about $217,000. Finally, Acadian Asset Management LLC raised its position in shares of DAQO New Energy Corp. by 11.1% in the second quarter. Acadian Asset Management LLC now owns 179,664 shares of the semiconductor company’s stock valued at $3,729,000 after buying an additional 17,881 shares in the last quarter. 30.06% of the stock is owned by institutional investors and hedge funds.

DAQO New Energy Corp. Company Profile

Daqo New Energy Corp. is a polysilicon manufacturer. The Company utilizes the chemical vapor deposition process, or the modified Siemens process, to produce polysilicon. The Company’s segments include Polysilicon and Wafer. The Company manufactures and sells polysilicon to photovoltaic product manufacturers, whereby the polysilicon is processed into ingots, wafers, cells and modules for solar power solutions.