Daqo New Energy Corp. (NYSE:DQ) Receives $32.93 Average Target Price from Analysts

Daqo New Energy Corp. (NYSE:DQ) has been given a consensus recommendation of “Reduce” by the four ratings firms that are presently covering the stock, MarketBeat.com reports. Two research analysts have rated the stock with a sell rating, one has assigned a hold rating and one has assigned a buy rating to the company. The average twelve-month price objective among brokers that have updated their coverage on the stock in the last year is $27.63.

DQ has been the subject of several recent analyst reports. Roth Mkm reiterated a “neutral” rating and set a $23.00 price objective on shares of Daqo New Energy in a research note on Tuesday, April 30th. Daiwa Capital Markets reaffirmed an “underperform” rating and set a $25.00 price target on shares of Daqo New Energy in a research report on Friday, March 15th. Finally, HSBC reissued a “reduce” rating and issued a $17.50 price objective (down previously from $23.50) on shares of Daqo New Energy in a research report on Monday.

Daqo New Energy Stock Performance

NYSE DQ opened at $19.02 on Tuesday. The company has a market cap of $1.25 billion, a PE ratio of 8.93 and a beta of 0.32. The firm’s 50 day moving average price is $24.58 and its 200-day moving average price is $23.58. Daqo New Energy has a 52-week low of $17.30 and a 52-week high of $44.86.

Daqo New Energy (NYSE:DQ) last released its quarterly earnings results on Monday, April 29th. The semiconductor company reported $0.24 EPS for the quarter, missing the consensus estimate of $0.56 by ($0.32). The company had revenue of $415.31 million during the quarter, compared to the consensus estimate of $491.90 million. Daqo New Energy had a return on equity of 2.46% and a net margin of 7.84%. During the same period in the previous year, the firm posted $3.52 earnings per share. On average, analysts forecast that Daqo New Energy will post 2.59 earnings per share for the current fiscal year.

Institutional Trading of Daqo New Energy

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the company. Daiwa Securities Group Inc. acquired a new stake in Daqo New Energy during the 1st quarter valued at approximately $256,000. Capstone Investment Advisors LLC acquired a new position in Daqo New Energy during the first quarter valued at $264,000. BNP Paribas Financial Markets boosted its holdings in Daqo New Energy by 142.1% in the first quarter. BNP Paribas Financial Markets now owns 696,865 shares of the semiconductor company’s stock valued at $19,617,000 after purchasing an additional 409,057 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. grew its position in Daqo New Energy by 15.4% during the 1st quarter. Mirae Asset Global Investments Co. Ltd. now owns 125,425 shares of the semiconductor company’s stock worth $3,531,000 after purchasing an additional 16,710 shares during the period. Finally, Ariose Capital Management Ltd raised its stake in shares of Daqo New Energy by 19.1% during the 1st quarter. Ariose Capital Management Ltd now owns 952,924 shares of the semiconductor company’s stock valued at $26,825,000 after buying an additional 152,800 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.