StockNews.com upgraded shares of Daqo New Energy (NYSE:DQ - Free Report) to a sell rating in a research note published on Monday morning.
Daqo New Energy Trading Up 0.8 %
NYSE DQ traded up $0.15 during trading hours on Monday, reaching $19.07. The company had a trading volume of 832,454 shares, compared to its average volume of 825,294. The stock has a market capitalization of $1.26 billion, a P/E ratio of -10.31 and a beta of 0.41. The stock has a 50-day moving average of $19.84 and a 200 day moving average of $19.26. Daqo New Energy has a 1-year low of $13.62 and a 1-year high of $30.85.
Daqo New Energy (NYSE:DQ - Get Free Report) last posted its quarterly earnings data 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). Daqo New Energy had a negative return on equity of 1.90% and a negative net margin of 9.16%. The company had revenue of $195.36 million for the quarter, compared to analysts' expectations of $153.54 million. As a group, sell-side analysts predict that Daqo New Energy will post -3.5 EPS for the current year.
Hedge Funds Weigh In On Daqo New Energy
Several hedge funds have recently bought and sold shares of DQ. Generali Investments CEE investicni spolecnost a.s. purchased a new stake in Daqo New Energy during the fourth quarter worth about $52,000. Daiwa Securities Group Inc. increased its stake in Daqo New Energy by 15.4% during the 3rd quarter. Daiwa Securities Group Inc. now owns 10,500 shares of the semiconductor company's stock worth $214,000 after buying an additional 1,400 shares during the period. Point72 Asia Singapore Pte. Ltd. lifted its holdings in Daqo New Energy by 66.1% during the 3rd quarter. Point72 Asia Singapore Pte. Ltd. now owns 14,000 shares of the semiconductor company's stock worth $285,000 after buying an additional 5,570 shares in the last quarter. Diametric Capital LP boosted its position in Daqo New Energy by 25.5% in the 4th quarter. Diametric Capital LP now owns 16,018 shares of the semiconductor company's stock valued at $311,000 after buying an additional 3,255 shares during the period. Finally, Van ECK Associates Corp grew its stake in shares of Daqo New Energy by 7.6% in the fourth quarter. Van ECK Associates Corp now owns 20,067 shares of the semiconductor company's stock worth $390,000 after acquiring an additional 1,410 shares in the last quarter. Institutional investors and hedge funds own 47.22% of the company's stock.
About Daqo New Energy
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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.
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