Daqo New Energy Corp. (NYSE:DQ) Receives Consensus Rating of “Buy” from Analysts

Shares of Daqo New Energy Corp. (NYSE:DQ) have been assigned a consensus rating of “Buy” from the eight ratings firms that are currently covering the stock, Marketbeat Ratings reports. One equities research analyst has rated the stock with a hold recommendation, four have assigned a buy recommendation and three have given a strong buy recommendation to the company. The average 12-month target price among brokerages that have issued ratings on the stock in the last year is $22.26.

Separately, StockNews.com upgraded Daqo New Energy to a “sell” rating in a report on Tuesday, March 18th.

Daqo New Energy Stock Down 0.2 %

Daqo New Energy stock opened at $18.08 on Friday. The firm has a market capitalization of $1.19 billion, a P/E ratio of -9.77 and a beta of 0.41. The firm has a fifty day moving average of $19.54 and a 200-day moving average of $19.80. Daqo New Energy has a 52-week low of $13.62 and a 52-week high of $30.85.

Daqo New Energy (NYSE:DQ) last announced its quarterly earnings results on Thursday, February 27th. The semiconductor company reported ($2.71) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.69) by ($2.02). The company had revenue of $195.36 million during the quarter, compared to analyst estimates of $153.54 million. Daqo New Energy had a negative net margin of 9.16% and a negative return on equity of 1.90%. On average, research analysts expect that Daqo New Energy will post -3.5 EPS for the current fiscal year.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently bought and sold shares of the business. Daiwa Securities Group Inc. raised its position in shares of Daqo New Energy by 15.4% in the 3rd quarter. Daiwa Securities Group Inc. now owns 10,500 shares of the semiconductor company’s stock valued at $214,000 after purchasing an additional 1,400 shares in the last quarter. Van ECK Associates Corp increased its stake in shares of Daqo New Energy by 7.6% in the fourth quarter. Van ECK Associates Corp now owns 20,067 shares of the semiconductor company’s stock worth $390,000 after buying an additional 1,410 shares during the last quarter. CoreCommodity Management LLC raised its holdings in Daqo New Energy by 1.6% in the fourth quarter. CoreCommodity Management LLC now owns 134,888 shares of the semiconductor company’s stock valued at $2,622,000 after acquiring an additional 2,183 shares in the last quarter. Generali Investments CEE investicni spolecnost a.s. bought a new position in Daqo New Energy during the 4th quarter valued at $52,000. Finally, Geode Capital Management LLC grew its holdings in Daqo New Energy by 9.2% during the 3rd quarter. Geode Capital Management LLC now owns 33,546 shares of the semiconductor company’s stock worth $683,000 after acquiring an additional 2,813 shares in the last quarter. Hedge funds and other institutional investors own 47.22% of the company’s stock.

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.