The Goldman Sachs Group Downgrades Daqo New Energy (NYSE:DQ) to Neutral

Daqo New Energy (NYSE:DQ) was downgraded by research analysts at The Goldman Sachs Group from a “buy” rating to a “neutral” rating in a report issued on Tuesday,Finviz reports. They presently have a $17.00 price objective on the semiconductor company’s stock. The Goldman Sachs Group’s price objective indicates a potential upside of 18.96% from the company’s current price.

Separately, StockNews.com upgraded 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 issued a hold rating, three have assigned a buy rating and three have given a strong buy rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $21.21.

Daqo New Energy Stock Performance

NYSE DQ opened at $14.29 on Tuesday. The stock has a market capitalization of $943.24 million, a PE ratio of -7.72 and a beta of 0.37. The stock has a 50-day simple moving average of $18.88 and a 200 day simple moving average of $19.61. Daqo New Energy has a twelve month low of $12.90 and a twelve month high of $30.85.

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). The company had revenue of $195.36 million for the quarter, compared to the consensus estimate of $153.54 million. Daqo New Energy had a negative return on equity of 1.90% and a negative net margin of 9.16%. As a group, equities research analysts forecast that Daqo New Energy will post -3.5 EPS for the current fiscal year.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. State Street Corp increased its stake in Daqo New Energy by 1.1% during the 3rd quarter. State Street Corp now owns 842,921 shares of the semiconductor company’s stock worth $17,170,000 after purchasing an additional 8,983 shares in the last quarter. Wellington Management Group LLP boosted its stake in Daqo New Energy by 26.0% in the 3rd quarter. Wellington Management Group LLP now owns 128,422 shares of the semiconductor company’s stock worth $2,616,000 after purchasing an additional 26,462 shares during the period. Public Employees Retirement System of Ohio bought a new stake in shares of Daqo New Energy in the third quarter valued at about $1,053,000. Geode Capital Management LLC grew its holdings in shares of Daqo New Energy by 9.2% during the third quarter. Geode Capital Management LLC now owns 33,546 shares of the semiconductor company’s stock worth $683,000 after buying an additional 2,813 shares in the last quarter. Finally, Ariose Capital Management Ltd lifted its stake in Daqo New Energy by 27.5% in the 4th quarter. Ariose Capital Management Ltd now owns 1,505,709 shares of the semiconductor company’s stock valued at $29,271,000 after acquiring an additional 324,585 shares in the last quarter. 47.22% of the stock is owned by institutional investors and hedge funds.

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.