Daqo New Energy (NYSE:DQ) Upgraded by ValuEngine to “Hold”

ValuEngine upgraded shares of Daqo New Energy (NYSE:DQ) from a sell rating to a hold rating in a report published on Tuesday, ValuEngine reports.

A number of other equities research analysts have also issued reports on DQ. JPMorgan Chase & Co. began coverage on Daqo New Energy in a research note on Thursday, November 14th. They set an overweight rating and a $50.00 price target for the company. Roth Capital reaffirmed a buy rating on shares of Daqo New Energy in a research report on Wednesday, August 14th. Finally, Zacks Investment Research lowered Daqo New Energy from a buy rating to a hold rating in a research note on Tuesday, November 19th.

Shares of NYSE:DQ opened at $40.35 on Tuesday. The company has a current ratio of 0.43, a quick ratio of 0.36 and a debt-to-equity ratio of 0.31. Daqo New Energy has a 12 month low of $21.64 and a 12 month high of $53.49. The company has a market capitalization of $412.67 million, a price-to-earnings ratio of 9.09, a PEG ratio of 0.67 and a beta of 1.69. The firm’s 50-day moving average is $39.00 and its 200 day moving average is $42.67.

Daqo New Energy (NYSE:DQ) last announced its quarterly earnings data on Tuesday, November 12th. The semiconductor company reported $0.67 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.43 by $0.24. The business had revenue of $83.91 million during the quarter, compared to the consensus estimate of $85.60 million. Daqo New Energy had a net margin of 6.79% and a return on equity of 5.68%. During the same quarter last year, the firm earned $0.32 earnings per share. As a group, equities analysts forecast that Daqo New Energy will post 1.97 EPS for the current fiscal year.

Several hedge funds and other institutional investors have recently made changes to their positions in the stock. Atria Investments LLC bought a new position in Daqo New Energy in the second quarter worth approximately $123,000. Pictet Asset Management Ltd. purchased a new stake in shares of Daqo New Energy in the 2nd quarter worth $203,000. Jane Street Group LLC purchased a new stake in shares of Daqo New Energy in the 2nd quarter worth $239,000. CoreCommodity Management LLC bought a new position in shares of Daqo New Energy during the 2nd quarter worth $243,000. Finally, Aperio Group LLC bought a new position in shares of Daqo New Energy during the 2nd quarter worth $251,000. Hedge funds and other institutional investors own 40.40% of the company’s stock.

Daqo New Energy Company Profile

Daqo New Energy Corp., together with its subsidiaries, manufactures and sells polysilicon and wafers in the People's Republic of China. It operates through two segments, Polysilicon and Wafers. The company offers polysilicon to photovoltaic product manufacturers who further process its polysilicon into ingots, wafers, cells, and modules for solar power solutions.

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