DAQO New Energy (NYSE:DQ) Cut to Sell at Glj Research

Glj Research downgraded shares of DAQO New Energy (NYSE:DQ) from a buy rating to a sell rating in a research note published on Tuesday, Marketbeat Ratings reports. They currently have $18.13 price target on the semiconductor company’s stock, down from their previous price target of $30.51.

A number of other equities analysts have also issued reports on the stock. Roth Mkm set a $30.00 price target on shares of DAQO New Energy and gave the stock a “neutral” rating in a research report on Tuesday, October 28th. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of DAQO New Energy in a research note on Monday, December 29th. The Goldman Sachs Group set a $18.30 price target on shares of DAQO New Energy and gave the company a “neutral” rating in a research note on Wednesday, October 29th. Finally, Wall Street Zen raised shares of DAQO New Energy from a “sell” rating to a “hold” rating in a research note on Monday, November 3rd. One equities research analyst has rated the stock with a Strong Buy rating, two have issued a Buy rating, two have given a Hold rating and two have given a Sell rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average price target of $25.43.

DAQO New Energy Stock Performance

Shares of NYSE DQ opened at $23.43 on Tuesday. DAQO New Energy has a 52-week low of $12.40 and a 52-week high of $36.59. The firm has a market capitalization of $1.57 billion, a price-to-earnings ratio of -4.56 and a beta of 0.70. The stock has a 50 day moving average price of $28.98 and a 200 day moving average price of $27.58.

Institutional Trading of DAQO New Energy

Institutional investors and hedge funds have recently made changes to their positions in the company. FengHe Fund Management Pte. Ltd. boosted its holdings in shares of DAQO New Energy by 62.4% in the third quarter. FengHe Fund Management Pte. Ltd. now owns 469,833 shares of the semiconductor company’s stock valued at $13,216,000 after acquiring an additional 180,457 shares in the last quarter. Vontobel Holding Ltd. purchased a new stake in shares of DAQO New Energy during the 3rd quarter worth $1,585,000. Mitsubishi UFJ Asset Management Co. Ltd. grew its stake in shares of DAQO New Energy by 39.1% during the 2nd quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 31,364 shares of the semiconductor company’s stock worth $476,000 after purchasing an additional 8,815 shares during the period. Luminus Management LLC purchased a new position in shares of DAQO New Energy in the 3rd quarter valued at about $1,125,000. Finally, Polunin Capital Partners Ltd acquired a new stake in shares of DAQO New Energy in the third quarter valued at about $37,183,000. 47.22% of the stock is owned by hedge funds and other institutional investors.

DAQO New Energy Company Profile

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.