Daqo New Energy (NYSE:DQ) Lowered to “Neutral” Rating by The Goldman Sachs Group

The Goldman Sachs Group downgraded shares of Daqo New Energy (NYSE:DQ) from a buy rating to a neutral rating in a report released on Tuesday morning, Marketbeat reports. The Goldman Sachs Group currently has $17.00 price objective on the semiconductor company’s stock.

Separately, StockNews.com raised Daqo New Energy to a “sell” rating in a report on Tuesday, March 18th. One equities research analyst has rated the stock with a sell rating, two have given a hold rating, three have given a buy rating and three have given a strong buy rating to the company. According to MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $21.21.

Daqo New Energy Stock Performance

DQ opened at $14.46 on Tuesday. Daqo New Energy has a one year low of $12.90 and a one year high of $30.85. The company has a market cap of $954.13 million, a P/E ratio of -7.81 and a beta of 0.37. The business’s 50-day simple moving average is $18.77 and its 200-day simple moving average is $19.58.

Daqo New Energy (NYSE:DQ) last announced its earnings results on Thursday, February 27th. The semiconductor company reported ($2.71) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.69) by ($2.02). Daqo New Energy had a negative net margin of 9.16% and a negative return on equity of 1.90%. The firm had revenue of $195.36 million during the quarter, compared to analyst estimates of $153.54 million. As a group, analysts predict that Daqo New Energy will post -3.5 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the stock. Generali Investments CEE investicni spolecnost a.s. bought a new position in shares of Daqo New Energy during the fourth quarter worth about $52,000. Diametric Capital LP boosted its position in Daqo New Energy by 25.5% during the 4th quarter. Diametric Capital LP now owns 16,018 shares of the semiconductor company’s stock worth $311,000 after acquiring an additional 3,255 shares during the period. Van ECK Associates Corp lifted its holdings in 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 purchasing an additional 1,410 shares during the period. Polymer Capital Management HK LTD bought a new position in shares of Daqo New Energy in the fourth quarter valued at approximately $404,000. Finally, Geode Capital Management LLC boosted its stake in Daqo New Energy by 9.2% during the 3rd quarter. Geode Capital Management LLC now owns 33,546 shares of the semiconductor company’s stock valued at $683,000 after purchasing an additional 2,813 shares in the last quarter. 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.