Daqo New Energy Corp. (NYSE:DQ) Given Consensus Recommendation of “Buy” by Analysts

Daqo New Energy Corp. (NYSE:DQ) has been assigned a consensus recommendation of “Buy” from the eight analysts that are currently covering the stock, MarketBeat reports. One analyst has rated the stock with a hold recommendation, four have assigned a buy recommendation and three have assigned 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 analysts have issued reports on DQ shares. HSBC upgraded Daqo New Energy from a “hold” rating to a “buy” rating in a report on Wednesday, October 2nd. StockNews.com raised shares of Daqo New Energy to a “sell” rating in a research note on Monday, September 23rd. Hsbc Global Res raised shares of Daqo New Energy from a “hold” rating to a “strong-buy” rating in a research note on Wednesday, October 2nd. Jefferies Financial Group decreased their target price on Daqo New Energy from $38.40 to $34.05 and set a “buy” rating for the company in a research report on Monday, August 26th. Finally, Daiwa Capital Markets raised Daqo New Energy from a “neutral” rating to an “outperform” rating in a research report on Wednesday, October 30th.

Daqo New Energy Price Performance

DQ stock opened at $21.65 on Wednesday. The firm has a market cap of $1.43 billion, a PE ratio of -11.70 and a beta of 0.28. Daqo New Energy has a 12 month low of $13.62 and a 12 month high of $30.85. The firm has a 50 day simple moving average of $20.93 and a 200 day simple moving average of $18.46.

Daqo New Energy (NYSE:DQ) last released its quarterly earnings data on Wednesday, October 30th. The semiconductor company reported ($0.92) earnings per share for the quarter, missing the consensus estimate of ($0.80) by ($0.12). The company had revenue of $198.50 million for the quarter, compared to the consensus estimate 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 period in the prior year, the business earned ($0.09) earnings per share. As a group, sell-side analysts expect that Daqo New Energy will post -3.5 earnings per share for the current year.

Institutional Trading of Daqo New Energy

A number of institutional investors have recently bought and sold shares of the company. Sylebra Capital LLC raised its stake in shares of Daqo New Energy by 103.9% during the 2nd quarter. Sylebra Capital LLC now owns 943,692 shares of the semiconductor company’s stock worth $13,778,000 after purchasing an additional 480,980 shares in the last quarter. Marshall Wace LLP raised its position in Daqo New Energy by 112.3% during the second quarter. Marshall Wace LLP now owns 322,635 shares of the semiconductor company’s stock valued at $4,710,000 after acquiring an additional 170,660 shares in the last quarter. Point72 Asset Management L.P. acquired a new stake in Daqo New Energy in the second quarter valued at approximately $11,080,000. Mackenzie Financial Corp grew its position in Daqo New Energy by 6.4% in the second quarter. Mackenzie Financial Corp now owns 2,496,997 shares of the semiconductor company’s stock worth $36,456,000 after acquiring an additional 149,610 shares in the last quarter. Finally, Blue Trust Inc. increased 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 purchasing an additional 1,950 shares during the last quarter. Institutional investors and hedge funds 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.