Daqo New Energy (NYSE:DQ) Coverage Initiated by Analysts at StockNews.com

Research analysts at StockNews.com started coverage on shares of Daqo New Energy (NYSE:DQ – Get Rating) in a research note issued to investors on Thursday. The brokerage set a “hold” rating on the semiconductor company’s stock.

Separately, The Goldman Sachs Group cut shares of Daqo New Energy from a “buy” rating to a “neutral” rating and cut their price target for the company from $140.00 to $70.00 in a research report on Monday, December 5th. Three research analysts have rated the stock with a hold rating and one has assigned a buy rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and an average target price of $75.00.

Daqo New Energy Trading Down 2.8 %

Shares of DQ opened at $49.26 on Thursday. The stock has a market capitalization of $3.67 billion, a P/E ratio of 2.05 and a beta of 0.52. The firm’s fifty day simple moving average is $45.35 and its two-hundred day simple moving average is $49.39. Daqo New Energy has a 12 month low of $36.03 and a 12 month high of $77.18.

Hedge Funds Weigh In On Daqo New Energy

A number of institutional investors and hedge funds have recently made changes to their positions in the stock. E Fund Management Hong Kong Co. Ltd. boosted its position in shares of Daqo New Energy by 0.6% during the 3rd quarter. E Fund Management Hong Kong Co. Ltd. now owns 40,481 shares of the semiconductor company’s stock worth $2,149,000 after purchasing an additional 233 shares in the last quarter. E Fund Management Co. Ltd. raised its holdings in shares of Daqo New Energy by 0.6% in the 3rd quarter. E Fund Management Co. Ltd. now owns 40,481 shares of the semiconductor company’s stock worth $2,149,000 after acquiring an additional 233 shares during the last quarter. Ensign Peak Advisors Inc raised its holdings in shares of Daqo New Energy by 6.3% in the 1st quarter. Ensign Peak Advisors Inc now owns 4,250 shares of the semiconductor company’s stock worth $176,000 after acquiring an additional 250 shares during the last quarter. Advisors Asset Management Inc. raised its holdings in shares of Daqo New Energy by 4.1% in the 3rd quarter. Advisors Asset Management Inc. now owns 7,383 shares of the semiconductor company’s stock worth $392,000 after acquiring an additional 288 shares during the last quarter. Finally, Pictet Asset Management SA raised its holdings in shares of Daqo New Energy by 0.4% in the 3rd quarter. Pictet Asset Management SA now owns 73,200 shares of the semiconductor company’s stock worth $3,885,000 after acquiring an additional 289 shares during the last quarter.

About Daqo New Energy

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Daqo New Energy Corp. is a holding company, which engages in the provision of polysilicon products. It involves in the manufacture and sale of polysilicon to photovoltaic product manufactures, who further process the polysilicon into ingots, wafers, cells, and modules for solar power solutions. The company was founded by Guang Fu Xu on November 22, 2007 and is headquartered in Shanghai, China.