Daqo New Energy (NYSE:DQ) Upgraded to “Strong-Buy” at StockNews.com

StockNews.com upgraded shares of Daqo New Energy (NYSE:DQGet Rating) from a buy rating to a strong-buy rating in a research note released on Friday.

Other research analysts have also recently issued research reports about the stock. JPMorgan Chase & Co. upgraded shares of Daqo New Energy from a neutral rating to an overweight rating in a report on Wednesday, May 4th. They noted that the move was a valuation call. Daiwa Capital Markets upped their price objective on shares of Daqo New Energy from $47.00 to $80.00 in a research report on Tuesday, July 12th. Finally, TheStreet upgraded shares of Daqo New Energy from a c+ rating to a b- rating in a report on Friday, May 6th. Three research analysts have rated the stock with a hold rating, two have issued a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, the stock currently has an average rating of Moderate Buy and a consensus price target of $80.82.

Daqo New Energy Trading Down 3.4 %

DQ opened at $64.53 on Friday. The firm has a market capitalization of $4.81 billion, a PE ratio of 3.08 and a beta of 0.30. Daqo New Energy has a twelve month low of $32.20 and a twelve month high of $81.10. The firm’s 50-day moving average price is $63.68 and its 200 day moving average price is $49.96.

Daqo New Energy declared that its Board of Directors has initiated a stock repurchase plan on Wednesday, June 1st that permits the company to buyback $0.00 in outstanding shares. This buyback authorization permits the semiconductor company to reacquire shares of its stock through open market purchases. Shares buyback plans are usually a sign that the company’s leadership believes its stock is undervalued.

Hedge Funds Weigh In On Daqo New Energy

Hedge funds have recently added to or reduced their stakes in the stock. JJJ Advisors Inc. increased its stake in shares of Daqo New Energy by 99.0% in the 1st quarter. JJJ Advisors Inc. now owns 599 shares of the semiconductor company’s stock valued at $25,000 after purchasing an additional 298 shares during the last quarter. Maverick Capital Ltd. purchased a new stake in shares of Daqo New Energy in the fourth quarter worth approximately $40,000. FNY Investment Advisers LLC bought a new position in shares of Daqo New Energy in the second quarter valued at approximately $40,000. Quadrant Capital Group LLC grew its holdings in Daqo New Energy by 80.5% during the first quarter. Quadrant Capital Group LLC now owns 1,139 shares of the semiconductor company’s stock valued at $47,000 after purchasing an additional 508 shares during the period. Finally, US Bancorp DE lifted its position in shares of Daqo New Energy by 89.0% during the first quarter. US Bancorp DE now owns 1,981 shares of the semiconductor company’s stock worth $82,000 after acquiring an additional 933 shares in the last quarter. Institutional investors and hedge funds own 70.99% 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 manufactures 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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Analyst Recommendations for Daqo New Energy (NYSE:DQ)

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