StockNews.com Upgrades Daqo New Energy (NYSE:DQ) to “Sell”

StockNews.com upgraded shares of Daqo New Energy (NYSE:DQ) to a sell rating in a research note released on Tuesday.

Daqo New Energy Stock Performance

Shares of DQ stock opened at $20.05 on Tuesday. Daqo New Energy has a 52-week low of $13.62 and a 52-week high of $30.85. The company has a 50-day simple moving average of $19.63 and a two-hundred day simple moving average of $19.55. The company has a market capitalization of $1.32 billion, a price-to-earnings ratio of -10.84 and a beta of 0.41.

Daqo New Energy (NYSE:DQ) last issued its quarterly earnings results on Thursday, February 27th. The semiconductor company reported ($2.71) EPS for the quarter, missing analysts’ consensus estimates of ($0.69) by ($2.02). The business had revenue of $195.36 million for the quarter, compared to analysts’ expectations of $153.54 million. Daqo New Energy had a negative net margin of 9.16% and a negative return on equity of 1.90%. On average, sell-side analysts forecast that Daqo New Energy will post -3.5 EPS for the current fiscal year.

Hedge Funds Weigh In On Daqo New Energy

A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. Continental General Insurance Co. raised its position in Daqo New Energy by 5.8% in the fourth quarter. Continental General Insurance Co. now owns 5,916,202 shares of the semiconductor company’s stock worth $115,011,000 after acquiring an additional 322,084 shares during the period. Greenwoods Asset Management Hong Kong Ltd. increased its stake in shares of Daqo New Energy by 5,286.6% during the 4th quarter. Greenwoods Asset Management Hong Kong Ltd. now owns 2,714,780 shares of the semiconductor company’s stock worth $52,775,000 after purchasing an additional 2,664,381 shares during the last quarter. Ariose Capital Management Ltd increased its stake in shares of Daqo New Energy by 27.5% during the 4th quarter. Ariose Capital Management Ltd now owns 1,505,709 shares of the semiconductor company’s stock worth $29,271,000 after purchasing an additional 324,585 shares during the last quarter. Point72 Asset Management L.P. lifted its stake in Daqo New Energy by 67.5% in the fourth quarter. Point72 Asset Management L.P. now owns 886,655 shares of the semiconductor company’s stock valued at $17,237,000 after purchasing an additional 357,460 shares during the last quarter. Finally, State Street Corp grew its holdings in Daqo New Energy by 1.1% during the third quarter. State Street Corp now owns 842,921 shares of the semiconductor company’s stock valued at $17,170,000 after purchasing an additional 8,983 shares during the period. 47.22% of the stock is owned by hedge funds and other institutional investors.

About Daqo New Energy

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.