DAQO New Energy (NYSE:DQ – Get Free Report) was upgraded by Zacks Research from a “strong sell” rating to a “hold” rating in a research report issued on Monday,Zacks.com reports.
A number of other analysts also recently weighed in on DQ. Wall Street Zen downgraded DAQO New Energy from a “hold” rating to a “strong sell” rating in a research report on Saturday, May 2nd. Weiss Ratings cut DAQO New Energy from a “sell (d-)” rating to a “sell (e+)” rating in a research report on Wednesday, June 17th. Finally, Roth Mkm set a $19.00 price objective on shares of DAQO New Energy in a research report on Thursday, April 30th. One equities research analyst has rated the stock with a Strong Buy rating, one has given a Buy rating, three have assigned a Hold rating and two have issued a Sell rating to the company’s stock. According to data from MarketBeat, DAQO New Energy has a consensus rating of “Hold” and a consensus price target of $23.59.
Get Our Latest Stock Analysis on DAQO New Energy
DAQO New Energy Trading Up 2.7%
DAQO New Energy (NYSE:DQ – Get Free Report) last issued its quarterly earnings results on Wednesday, April 29th. The semiconductor company reported ($1.31) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.13) by ($1.18). DAQO New Energy had a negative return on equity of 3.19% and a negative net margin of 32.92%.The company had revenue of $26.72 million for the quarter, compared to analyst estimates of $186.28 million. On average, equities research analysts forecast that DAQO New Energy will post -1.31 earnings per share for the current year.
Institutional Investors Weigh In On DAQO New Energy
Large investors have recently modified their holdings of the business. Continental General Insurance Co. raised its holdings in shares of DAQO New Energy by 11.3% during the 3rd quarter. Continental General Insurance Co. now owns 6,641,986 shares of the semiconductor company’s stock worth $186,839,000 after buying an additional 675,784 shares in the last quarter. Arrowstreet Capital Limited Partnership acquired a new stake in DAQO New Energy in the third quarter valued at about $18,280,000. Goldman Sachs Group Inc. boosted its stake in DAQO New Energy by 117.2% in the first quarter. Goldman Sachs Group Inc. now owns 1,159,835 shares of the semiconductor company’s stock valued at $21,005,000 after buying an additional 625,900 shares in the last quarter. Marshall Wace LLP bought a new position in DAQO New Energy in the fourth quarter valued at about $16,742,000. Finally, Wolf Hill Capital Management LP bought a new position in DAQO New Energy in the third quarter valued at about $11,623,000. Institutional investors and hedge funds own 47.22% of the company’s stock.
About DAQO New Energy
DAQO New Energy Corp. operates as a leading manufacturer of high-purity polysilicon and monocrystalline silicon wafers for the global solar photovoltaic industry. The company focuses on serving module makers and integrated solar producers with critical upstream materials, applying proprietary technologies and optimized processes to achieve high product purity and consistently low production costs. Its core offerings include solar-grade polysilicon—used in the ingot casting and wafer slicing stages—and premium mono-silicon wafers, which are a key input for high-efficiency solar cell production.
Founded in the late 2000s and listed on the New York Stock Exchange in 2010, DAQO New Energy established its first polysilicon facility in China’s Xinjiang Uygur Autonomous Region.
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