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

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

Several research analysts recently issued reports on DQ shares. Daiwa America upgraded shares of Daqo New Energy from a “hold” rating to a “strong-buy” rating in a research report on Wednesday, October 30th. Daiwa Capital Markets upgraded shares of Daqo New Energy from a “neutral” rating to an “outperform” rating in a research report on Wednesday, October 30th. HSBC raised shares of Daqo New Energy from a “hold” rating to a “buy” rating in a research note on Wednesday, October 2nd. StockNews.com upgraded shares of Daqo New Energy to a “sell” rating in a research report on Monday, September 23rd. Finally, Hsbc Global Res upgraded Daqo New Energy from a “hold” rating to a “strong-buy” rating in a research report on Wednesday, October 2nd.

Institutional Investors Weigh In On Daqo New Energy

A number of institutional investors have recently made changes to their positions in DQ. Geode Capital Management LLC grew its holdings in Daqo New Energy by 9.2% during the third quarter. Geode Capital Management LLC now owns 33,546 shares of the semiconductor company’s stock valued at $683,000 after purchasing an additional 2,813 shares during the period. Public Employees Retirement System of Ohio acquired a new position in shares of Daqo New Energy in the 3rd quarter valued at $1,053,000. Wellington Management Group LLP increased its position in shares of Daqo New Energy by 26.0% in the 3rd quarter. Wellington Management Group LLP now owns 128,422 shares of the semiconductor company’s stock valued at $2,616,000 after buying an additional 26,462 shares in the last quarter. Wexford Capital LP increased its position in shares of Daqo New Energy by 395.7% in the 3rd quarter. Wexford Capital LP now owns 164,809 shares of the semiconductor company’s stock valued at $3,357,000 after buying an additional 131,564 shares in the last quarter. Finally, State Street Corp lifted its holdings in Daqo New Energy by 1.1% during the third quarter. State Street Corp now owns 842,921 shares of the semiconductor company’s stock worth $17,170,000 after acquiring an additional 8,983 shares in the last quarter. 47.22% of the stock is owned by institutional investors and hedge funds.

Daqo New Energy Stock Performance

Shares of NYSE:DQ opened at $20.24 on Friday. The company’s fifty day moving average is $20.21 and its 200-day moving average is $18.19. Daqo New Energy has a 52 week low of $13.62 and a 52 week high of $30.85. The company has a market capitalization of $1.34 billion, a PE ratio of -10.94 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) EPS for the quarter, missing analysts’ consensus estimates of ($0.80) by ($0.12). The firm had revenue of $198.50 million during the quarter, compared to analyst estimates of $186.90 million. Daqo New Energy had a negative net margin of 9.16% and a negative return on equity of 1.90%. During the same quarter last year, the firm earned ($0.09) earnings per share. On average, analysts forecast that Daqo New Energy will post -3.5 EPS for the current year.

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.