In a research note published on Monday, financial analysts at The Goldman Sachs Group downgraded Daqo New Energy (NYSE: DQ) from a “buy” rating to a “neutral” one.
Several studies have been conducted on the subject of DQ.StockNews.com published a research report on Daqo New Energy on Wednesday, October 12. They gave the business a “buy” grade. However, Daiwa Capital Markets lowered Daqo New Energy’s rating from “outperform” to “neutral” in a research study released on September 15. Two financial analysts have given the company’s shares a buy rating, while two others have given them a hold recommendation. The company presently has a consensus “Moderate Buy” rating and an $80.00 price target, according to data from Bloomberg.com.
NYSE: DQ shares started trading at $54.03 on Monday. The company’s market capitalization is $4.03 billion, its P/E ratio is 2.54, and its beta value is 0.33. The pricing range for Daqo New Energy over the previous year was $32.20 to $77.18. The stock’s 50-day simple moving average is $50.88, and the 200-day simple moving average is $58.35.
The most recent earnings report from Daqo New Energy (NYSE: DQ) was made public on October 27. The semiconductor company’s quarterly earnings per share (EPS), which were $4.18, were $2.69 less than the $6.87 average expectation. In addition, the company’s revenue for the quarter was $1.22 billion, compared to the typical projection of $1.10 billion. Nevertheless, Daqo New Energy did well, with a 39.51% net margin and a 37.63% return on equity. The average prediction made by equity research experts is that Daqo New Energy will post 27.56 EPS this year.
Few hedge funds’ current holdings of DQ have moved recently. Help Advisors LTD. boosted its stake in Daqo New Energy by 1,785.9% during the second quarter. Help Advisors LTD. now owns 1,885,900 shares of the semiconductor company’s stock, worth $134,616,000, after acquiring an additional 1,785,900 shares in the last quarter. Tairen Capital Ltd. increased its ownership of Daqo New Energy by 195.8% during the third quarter. Tairen Capital Ltd now owns 1,929,432 shares of the semiconductor company, valued at $102,414,000, after purchasing an additional 1,277,247 shares in the most recent quarter. The Healthcare of Ontario Pension Plan Trust Fund made another $40,596,000 investment in Daqo New Energy during the third quarter. Renaissance Technologies LLC increased its stake in Daqo New Energy by 250.7% during the third quarter. Renaissance Technologies LLC now owns 923,117 shares in the semiconductor sector after acquiring an additional 659,917 shares in the most recent quarter for a total cost of $48,999,00. Finally, Aspex Management HK Ltd increased its investment in Daqo New Energy to $26,540,000 in the third quarter.
Daqo New Energy Corp. and its affiliates make and sell polysilicon to manufacturers of solar products in the People’s Republic of China. Ingots, wafers, cells, and modules for solar energy use products from this company. Mega Stand International Limited was the company’s previous name before becoming Daqo New Energy Corp.
Source: news.google.com
