DAQO New Energy Corp. (NYSE:DQ) Receives $27.04 Average PT from Analysts

Shares of DAQO New Energy Corp. (NYSE:DQ) have been assigned a consensus rating of “Moderate Buy” from the seven brokerages that are presently covering the stock, MarketBeat reports. One analyst has rated the stock with a sell recommendation, two have given a hold recommendation, three have assigned a buy recommendation and one has assigned a strong buy recommendation to the company. The average 1-year target price among brokerages that have covered the stock in the last year is $27.0350.

A number of equities research analysts recently issued reports on DQ shares. New Street Research set a $15.40 target price on shares of DAQO New Energy in a research report on Thursday, September 18th. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of DAQO New Energy in a report on Monday. Roth Capital set a $30.00 target price on DAQO New Energy and gave the stock a “neutral” rating in a report on Tuesday, October 28th. The Goldman Sachs Group set a $18.30 price target on DAQO New Energy and gave the stock a “neutral” rating in a research report on Wednesday, October 29th. Finally, Citigroup lifted their price objective on DAQO New Energy from $27.00 to $37.00 and gave the company a “buy” rating in a research report on Monday, September 8th.

Institutional Investors Weigh In On DAQO New Energy

A number of hedge funds have recently added to or reduced their stakes in the stock. Charles Schwab Investment Management Inc. lifted its holdings in DAQO New Energy by 227.3% during the 1st quarter. Charles Schwab Investment Management Inc. now owns 162,085 shares of the semiconductor company’s stock worth $2,935,000 after buying an additional 112,562 shares in the last quarter. Mitsubishi UFJ Asset Management Co. Ltd. raised its position in shares of DAQO New Energy by 39.1% during the second quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 31,364 shares of the semiconductor company’s stock worth $476,000 after acquiring an additional 8,815 shares during the last quarter. Vontobel Holding Ltd. acquired a new position in shares of DAQO New Energy during the third quarter valued at $1,585,000. Public Employees Retirement System of Ohio boosted its holdings in DAQO New Energy by 41.6% in the second quarter. Public Employees Retirement System of Ohio now owns 46,300 shares of the semiconductor company’s stock valued at $702,000 after acquiring an additional 13,600 shares during the last quarter. Finally, Luminus Management LLC acquired a new stake in DAQO New Energy in the third quarter worth about $1,125,000. Institutional investors own 47.22% of the company’s stock.

DAQO New Energy Trading Down 2.0%

Shares of DQ opened at $29.59 on Friday. The stock has a 50 day simple moving average of $31.51 and a 200-day simple moving average of $25.97. The stock has a market cap of $1.98 billion, a PE ratio of -5.76 and a beta of 0.66. DAQO New Energy has a 1 year low of $12.40 and a 1 year high of $36.59.

DAQO New Energy (NYSE:DQ) last announced its quarterly earnings results on Monday, October 27th. The semiconductor company reported ($0.22) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.61) by $0.39. The firm had revenue of $244.60 million for the quarter, compared to analysts’ expectations of $176.78 million. DAQO New Energy had a negative return on equity of 5.89% and a negative net margin of 53.74%. On average, sell-side analysts forecast that DAQO New Energy will post -3.5 EPS for the current fiscal year.

DAQO New Energy Company Profile

DAQO New Energy Corp. operates as a leading manufacturer of high-purity polysilicon and monocrystalline silicon wafers for the global solar photovoltaic industry. The company focuses on serving module makers and integrated solar producers with critical upstream materials, applying proprietary technologies and optimized processes to achieve high product purity and consistently low production costs. Its core offerings include solar-grade polysilicon—used in the ingot casting and wafer slicing stages—and premium mono-silicon wafers, which are a key input for high-efficiency solar cell production.

Founded in the late 2000s and listed on the New York Stock Exchange in 2010, DAQO New Energy established its first polysilicon facility in China’s Xinjiang Uygur Autonomous Region.