DAQO New Energy Corp. (NYSE:DQ) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a report released on Monday.

According to Zacks, “Daqo New Energy Corp. is engaged in the manufacture and sale of high-quality polysilicon to photovoltaic product manufacturers. The polysilicon is further processed into ingots, wafers, cells and modules for solar power solutions. Daqo New Energy Corp., formerly known as Mega Stand International Limited, is headquartered in Wanzhou, The People’s Republic of China. “

Other equities analysts have also issued research reports about the stock. Roth Capital set a $35.00 price target on shares of DAQO New Energy Corp. and gave the stock a “buy” rating in a report on Saturday, May 13th. BidaskClub upgraded shares of DAQO New Energy Corp. from a “sell” rating to a “hold” rating in a report on Monday, July 24th.

DAQO New Energy Corp. (DQ) traded up 1.07% during mid-day trading on Monday, hitting $26.46. 85,974 shares of the company were exchanged. The company has a market capitalization of $278.33 million, a P/E ratio of 4.81 and a beta of 1.75. The company’s 50-day moving average is $23.21 and its 200 day moving average is $22.08. DAQO New Energy Corp. has a 12-month low of $18.01 and a 12-month high of $30.80.

DAQO New Energy Corp. (NYSE:DQ) last issued its quarterly earnings results on Tuesday, August 8th. The semiconductor company reported $1.19 EPS for the quarter, missing analysts’ consensus estimates of $1.38 by $0.19. The business had revenue of $76 million for the quarter, compared to analyst estimates of $71.80 million. DAQO New Energy Corp. had a return on equity of 18.90% and a net margin of 19.35%. During the same quarter last year, the firm posted $1.87 EPS. Analysts expect that DAQO New Energy Corp. will post $5.21 EPS for the current year.

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A number of institutional investors have recently added to or reduced their stakes in the stock. ClariVest Asset Management LLC raised its position in DAQO New Energy Corp. by 5.4% in the first quarter. ClariVest Asset Management LLC now owns 10,713 shares of the semiconductor company’s stock valued at $201,000 after buying an additional 546 shares during the last quarter. Rational Advisors LLC raised its position in DAQO New Energy Corp. by 18.4% in the first quarter. Rational Advisors LLC now owns 5,800 shares of the semiconductor company’s stock valued at $109,000 after buying an additional 900 shares during the last quarter. Trexquant Investment LP purchased a new position in DAQO New Energy Corp. during the first quarter valued at about $196,000. State of Wisconsin Investment Board purchased a new position in DAQO New Energy Corp. during the first quarter valued at about $217,000. Finally, Acadian Asset Management LLC raised its position in DAQO New Energy Corp. by 11.1% in the second quarter. Acadian Asset Management LLC now owns 179,664 shares of the semiconductor company’s stock valued at $3,729,000 after buying an additional 17,881 shares during the last quarter. Institutional investors and hedge funds own 31.67% of the company’s stock.

DAQO New Energy Corp. Company Profile

Daqo New Energy Corp. is a polysilicon manufacturer. The Company utilizes the chemical vapor deposition process, or the modified Siemens process, to produce polysilicon. The Company’s segments include Polysilicon and Wafer. The Company manufactures and sells polysilicon to photovoltaic product manufacturers, whereby the polysilicon is processed into ingots, wafers, cells and modules for solar power solutions.

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