Daqo New Energy Corp. (NYSE:DQ) Given Average Rating of “Buy” by Brokerages

Shares of Daqo New Energy Corp. (NYSE:DQ) have been given an average recommendation of “Buy” by the eight research firms that are presently covering the stock, Marketbeat reports. One 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 price objective among brokers that have issued a report 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 Monday.

Daqo New Energy Trading Down 8.0 %

DQ stock traded down $1.63 during trading on Monday, reaching $18.62. 872,534 shares of the stock were exchanged, compared to its average volume of 814,257. The business has a 50 day moving average price of $19.82 and a 200-day moving average price of $19.22. Daqo New Energy has a 1 year low of $13.62 and a 1 year high of $30.85. The firm has a market capitalization of $1.23 billion, a price-to-earnings ratio of -10.06 and a beta of 0.25.

Daqo New Energy (NYSE:DQ) last released its quarterly earnings results on Thursday, February 27th. The semiconductor company reported ($2.71) EPS for the quarter, missing the consensus estimate of ($0.69) by ($2.02). The firm had revenue of $195.36 million for the quarter, compared to analysts’ expectations 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 anticipate that Daqo New Energy will post -3.5 EPS for the current year.

Institutional Investors Weigh In On Daqo New Energy

A number of institutional investors have recently modified their holdings of the company. Van ECK Associates Corp raised its holdings in Daqo New Energy by 4.3% in the third quarter. Van ECK Associates Corp now owns 18,657 shares of the semiconductor company’s stock valued at $415,000 after acquiring an additional 764 shares in the last quarter. Daiwa Securities Group Inc. increased 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 during the last quarter. CoreCommodity Management LLC increased its position in shares of Daqo New Energy by 1.6% in the 4th quarter. CoreCommodity Management LLC now owns 134,888 shares of the semiconductor company’s stock valued at $2,622,000 after purchasing an additional 2,183 shares during the last quarter. Generali Investments CEE investicni spolecnost a.s. acquired a new stake in shares of Daqo New Energy in the 4th quarter valued at $52,000. Finally, Geode Capital Management LLC lifted its position in shares of 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 purchasing an additional 2,813 shares during the last quarter. 47.22% of the stock is 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.