DAQO New Energy (NYSE:DQ) Earns Sell Rating from Glj Research

DAQO New Energy (NYSE:DQ)‘s stock had its “sell” rating reaffirmed by stock analysts at Glj Research in a research report issued to clients and investors on Tuesday,Benzinga reports. They currently have a $18.13 target price on the semiconductor company’s stock, down from their prior target price of $30.51. Glj Research’s target price points to a potential downside of 25.89% from the company’s current price.

DQ has been the subject of a number of other research reports. Roth Mkm set a $30.00 price target on DAQO New Energy and gave the stock a “neutral” rating in a research note on Tuesday, October 28th. The Goldman Sachs Group set a $18.30 price objective on shares of DAQO New Energy and gave the stock a “neutral” rating in a report on Wednesday, October 29th. 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. Finally, Weiss Ratings reissued a “sell (d-)” rating on shares of DAQO New Energy in a research note on Monday, December 29th. One investment analyst has rated the stock with a Strong Buy rating, two have issued a Buy rating, two have issued a Hold rating and two have given a Sell rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average target price of $24.97.

DAQO New Energy Price Performance

DQ opened at $24.47 on Tuesday. DAQO New Energy has a one year low of $12.40 and a one year high of $36.59. The business has a 50 day simple moving average of $29.45 and a two-hundred day simple moving average of $27.62. The firm has a market capitalization of $1.64 billion, a price-to-earnings ratio of -4.76 and a beta of 0.70.

Institutional Investors Weigh In On DAQO New Energy

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. FengHe Fund Management Pte. Ltd. grew its stake 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 worth $13,216,000 after acquiring an additional 180,457 shares during the last quarter. Vontobel Holding Ltd. bought a new position in DAQO New Energy in the 3rd quarter worth about $1,585,000. Mitsubishi UFJ Asset Management Co. Ltd. grew its position in 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 valued at $476,000 after purchasing an additional 8,815 shares during the last quarter. Luminus Management LLC bought a new stake in DAQO New Energy during the 3rd quarter valued at about $1,125,000. Finally, Polunin Capital Partners Ltd purchased a new position in DAQO New Energy in the third quarter worth about $37,183,000. Hedge funds and other institutional investors own 47.22% of the company’s stock.

About DAQO New Energy

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.