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

Shares of Daqo New Energy Corp. (NYSE:DQ) have been given a consensus rating of “Buy” by the eight brokerages that are covering the company, Marketbeat reports. One investment analyst has rated the stock with a hold recommendation, four have issued a buy recommendation and three have given a strong buy recommendation to the company. The average 1-year target price among brokers that have issued a report on the stock in the last year is $22.26.

Several research firms recently issued reports on DQ. Hsbc Global Res raised Daqo New Energy from a “hold” rating to a “strong-buy” rating in a research report on Wednesday, October 2nd. HSBC raised Daqo New Energy from a “hold” rating to a “buy” rating in a research report on Wednesday, October 2nd. Daiwa Capital Markets raised Daqo New Energy from a “neutral” rating to an “outperform” rating in a research report on Wednesday, October 30th. Finally, Daiwa America raised Daqo New Energy from a “hold” rating to a “strong-buy” rating in a research report on Wednesday, October 30th.

Daqo New Energy Price Performance

NYSE DQ opened at $18.09 on Thursday. The stock’s fifty day moving average price is $19.18 and its 200 day moving average price is $18.55. Daqo New Energy has a 1 year low of $13.62 and a 1 year high of $30.85. The company has a market cap of $1.19 billion, a price-to-earnings ratio of -9.78 and a beta of 0.26.

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

Institutional Investors Weigh In On Daqo New Energy

Institutional investors have recently modified their holdings of the business. Rhumbline Advisers lifted its stake in Daqo New Energy by 22.2% in the 2nd quarter. Rhumbline Advisers now owns 8,104 shares of the semiconductor company’s stock valued at $118,000 after buying an additional 1,470 shares in the last quarter. American Century Companies Inc. lifted its stake in Daqo New Energy by 6.9% in the 2nd quarter. American Century Companies Inc. now owns 170,368 shares of the semiconductor company’s stock valued at $2,487,000 after buying an additional 10,942 shares in the last quarter. Hsbc Holdings PLC lifted its stake in Daqo New Energy by 47.9% in the 2nd quarter. Hsbc Holdings PLC now owns 20,473 shares of the semiconductor company’s stock valued at $299,000 after buying an additional 6,628 shares in the last quarter. Marshall Wace LLP lifted its stake in Daqo New Energy by 112.3% in the 2nd quarter. Marshall Wace LLP now owns 322,635 shares of the semiconductor company’s stock valued at $4,710,000 after buying an additional 170,660 shares in the last quarter. Finally, AXA S.A. lifted its stake in Daqo New Energy by 202.3% in the 2nd quarter. AXA S.A. now owns 6,387 shares of the semiconductor company’s stock valued at $93,000 after buying an additional 4,274 shares in the last quarter. 47.22% of the stock is currently owned by institutional investors and hedge funds.

About Daqo New Energy

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.