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

Daqo New Energy Corp. (NYSE:DQ) has been given an average recommendation of “Buy” by the eight research firms that are currently covering the stock, MarketBeat Ratings 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 12-month price objective among analysts that have issued a report on the stock in the last year is $22.26.

Separately, StockNews.com upgraded shares of Daqo New Energy to a “sell” rating in a research note on Monday, March 3rd.

Hedge Funds Weigh In On Daqo New Energy

A number of hedge funds and other institutional investors have recently made changes to their positions in DQ. Van ECK Associates Corp boosted its holdings in shares of Daqo New Energy by 4.3% in the 3rd quarter. Van ECK Associates Corp now owns 18,657 shares of the semiconductor company’s stock worth $415,000 after buying an additional 764 shares during the last quarter. KBC Group NV increased its position in shares of Daqo New Energy by 12.9% during the third quarter. KBC Group NV now owns 25,244 shares of the semiconductor company’s stock valued at $514,000 after buying an additional 2,877 shares during the period. Daiwa Securities Group Inc. increased its position in shares of Daqo New Energy by 15.4% during the third quarter. Daiwa Securities Group Inc. now owns 10,500 shares of the semiconductor company’s stock valued at $214,000 after buying an additional 1,400 shares during the period. BNP Paribas Financial Markets increased its position in shares of Daqo New Energy by 57.5% during the third quarter. BNP Paribas Financial Markets now owns 74,571 shares of the semiconductor company’s stock valued at $1,519,000 after buying an additional 27,223 shares during the period. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its position in shares of Daqo New Energy by 32.2% during the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 135,732 shares of the semiconductor company’s stock valued at $2,765,000 after buying an additional 33,031 shares during the period. 47.22% of the stock is owned by hedge funds and other institutional investors.

Daqo New Energy Stock Up 0.8 %

NYSE:DQ opened at $19.07 on Monday. The company has a fifty day moving average of $19.84 and a 200-day moving average of $19.33. The firm has a market capitalization of $1.26 billion, a P/E ratio of -10.31 and a beta of 0.41. Daqo New Energy has a twelve month low of $13.62 and a twelve month high of $30.85.

Daqo New Energy (NYSE:DQ) last released its quarterly earnings data on Thursday, February 27th. The semiconductor company reported ($2.71) earnings per share 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 the consensus estimate 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, analysts anticipate that Daqo New Energy will post -3.5 EPS for the current fiscal year.

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.