DAQO New Energy Corp. (NYSE:DQ) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a note issued to investors on Tuesday.

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. “

DQ has been the subject of several other research reports. ValuEngine upgraded shares of DAQO New Energy Corp. from a “buy” rating to a “strong-buy” rating in a research note on Friday, September 1st. BidaskClub upgraded shares of DAQO New Energy Corp. from a “sell” rating to a “hold” rating in a research note on Monday, July 24th. Finally, Roth Capital set a $35.00 target price on shares of DAQO New Energy Corp. and gave the stock a “buy” rating in a research note on Sunday, August 20th. Two analysts have rated the stock with a hold rating, two have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. The stock currently has a consensus rating of “Buy” and an average price target of $36.00.

Shares of DAQO New Energy Corp. (NYSE DQ) traded up 7.67% on Tuesday, hitting $34.38. 321,179 shares of the company’s stock were exchanged. The firm has a market cap of $361.99 million, a P/E ratio of 7.18 and a beta of 1.86. The stock’s 50 day moving average is $27.59 and its 200 day moving average is $23.06. DAQO New Energy Corp. has a 12 month low of $18.01 and a 12 month high of $34.64.

DAQO New Energy Corp. (NYSE:DQ) last posted its earnings results on Tuesday, August 8th. The semiconductor company reported $1.19 earnings per share for the quarter, missing the consensus estimate of $1.38 by ($0.19). The business had revenue of $76.00 million during the quarter, compared to analysts’ expectations 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 in the previous year, the business earned $1.87 EPS. On average, equities analysts predict that DAQO New Energy Corp. will post $5.88 earnings per share for the current year.

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Several institutional investors and hedge funds have recently bought and sold shares of the company. Public Employees Retirement System of Ohio increased its stake in shares of DAQO New Energy Corp. by 264.5% in the second quarter. Public Employees Retirement System of Ohio now owns 7,767 shares of the semiconductor company’s stock worth $161,000 after purchasing an additional 5,636 shares in the last quarter. Dynamic Technology Lab Private Ltd purchased a new position in shares of DAQO New Energy Corp. in the second quarter worth about $210,000. Trexquant Investment LP purchased a new position in shares of DAQO New Energy Corp. in the first quarter worth about $196,000. State of Wisconsin Investment Board purchased a new position in shares of DAQO New Energy Corp. in the first quarter worth about $217,000. Finally, Acadian Asset Management LLC increased its stake in shares of 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 worth $3,729,000 after purchasing an additional 17,881 shares in the last quarter. Hedge funds and other institutional investors own 28.39% 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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