Daqo New Energy Corp. (NYSE:DQ) Receives $22.26 Average PT from Analysts

Shares of Daqo New Energy Corp. (NYSE:DQ) have earned an average recommendation of “Buy” from the eight research firms that are covering the firm, MarketBeat reports. One investment analyst has rated the stock with a hold rating, four have issued a buy rating and three have assigned a strong buy rating to the company. The average 12-month target price among analysts that have covered the stock in the last year is $22.26.

DQ has been the topic of a number of recent research reports. Jefferies Financial Group cut their target price on shares of Daqo New Energy from $38.40 to $34.05 and set a “buy” rating on the stock in a report on Monday, August 26th. Hsbc Global Res upgraded shares of Daqo New Energy from a “hold” rating to a “strong-buy” rating in a research note on Wednesday, October 2nd. HSBC upgraded shares of Daqo New Energy from a “hold” rating to a “buy” rating in a research note on Wednesday, October 2nd. Daiwa Capital Markets upgraded Daqo New Energy from a “neutral” rating to an “outperform” rating in a research report on Wednesday, October 30th. Finally, Roth Mkm decreased their price objective on Daqo New Energy from $23.00 to $15.00 and set a “neutral” rating for the company in a research report on Wednesday, August 28th.

Daqo New Energy Stock Performance

Shares of DQ stock opened at $18.08 on Wednesday. The stock’s 50-day moving average is $21.06 and its two-hundred day moving average is $18.47. Daqo New Energy has a 1 year low of $13.62 and a 1 year high of $30.85. The firm has a market cap of $1.19 billion, a price-to-earnings ratio of -9.77 and a beta of 0.28.

Daqo New Energy (NYSE:DQ) last released its quarterly earnings results on Wednesday, October 30th. The semiconductor company reported ($0.92) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.80) by ($0.12). The firm had revenue of $198.50 million for the quarter, compared to analysts’ expectations of $186.90 million. Daqo New Energy had a negative return on equity of 1.90% and a negative net margin of 9.16%. During the same quarter in the prior year, the business earned ($0.09) EPS. As a group, research analysts predict that Daqo New Energy will post -3.5 EPS for the current year.

Institutional Trading of Daqo New Energy

Several hedge funds have recently modified their holdings of the business. SG Americas Securities LLC boosted its holdings in Daqo New Energy by 327.1% during the second quarter. SG Americas Securities LLC now owns 20,561 shares of the semiconductor company’s stock worth $300,000 after buying an additional 15,747 shares in the last quarter. Blue Trust Inc. boosted its stake in shares of Daqo New Energy by 12,187.5% during the 2nd quarter. Blue Trust Inc. now owns 1,966 shares of the semiconductor company’s stock worth $29,000 after acquiring an additional 1,950 shares in the last quarter. Harel Insurance Investments & Financial Services Ltd. grew its holdings in shares of Daqo New Energy by 37.9% in the 2nd quarter. Harel Insurance Investments & Financial Services Ltd. now owns 14,442 shares of the semiconductor company’s stock worth $211,000 after acquiring an additional 3,970 shares during the period. Ariose Capital Management Ltd increased its stake in Daqo New Energy by 23.9% in the 2nd quarter. Ariose Capital Management Ltd now owns 1,181,124 shares of the semiconductor company’s stock valued at $17,244,000 after purchasing an additional 228,200 shares in the last quarter. Finally, Waterfront Wealth Inc. raised its holdings in Daqo New Energy by 11.2% during the second quarter. Waterfront Wealth Inc. now owns 103,893 shares of the semiconductor company’s stock worth $1,517,000 after purchasing an additional 10,498 shares during the last quarter. 47.22% of the stock is owned by institutional investors and hedge funds.

Daqo New Energy Company Profile

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.