Daqo New Energy (NYSE:DQ) Receives “Neutral” Rating from Roth Mkm

Daqo New Energy (NYSE:DQ)‘s stock had its “neutral” rating reissued by research analysts at Roth Mkm in a research report issued to clients and investors on Tuesday, Benzinga reports. They currently have a $23.00 target price on the semiconductor company’s stock. Roth Mkm’s price objective points to a potential upside of 22.60% from the stock’s current price.

Separately, Daiwa Capital Markets reiterated an “underperform” rating and set a $25.00 price objective on shares of Daqo New Energy in a report on Friday, March 15th. One analyst has rated the stock with a sell rating, three have issued a hold rating and one has assigned a buy rating to the stock. According to MarketBeat, the company presently has an average rating of “Hold” and an average price target of $32.93.

Daqo New Energy Stock Down 2.3 %

DQ stock opened at $18.76 on Tuesday. The firm has a market cap of $1.23 billion, a price-to-earnings ratio of 8.81 and a beta of 0.22. Daqo New Energy has a 12-month low of $17.30 and a 12-month high of $47.50. The company’s fifty day simple moving average is $24.55 and its 200 day simple moving average is $23.79.

Daqo New Energy (NYSE:DQ) last released its earnings results on Monday, April 29th. The semiconductor company reported $0.24 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.56 by ($0.32). The firm had revenue of $415.31 million during the quarter, compared to analyst estimates of $491.90 million. Daqo New Energy had a net margin of 7.84% and a return on equity of 2.46%. During the same quarter in the previous year, the firm earned $3.52 EPS. Research analysts expect that Daqo New Energy will post 4.06 earnings per share for the current year.

Institutional Investors Weigh In On Daqo New Energy

A number of institutional investors and hedge funds have recently made changes to their positions in DQ. Mackenzie Financial Corp grew its position in Daqo New Energy by 50.0% in the 3rd quarter. Mackenzie Financial Corp now owns 1,449,737 shares of the semiconductor company’s stock worth $41,709,000 after purchasing an additional 483,254 shares in the last quarter. Oslo Asset Management AS grew its position in shares of Daqo New Energy by 19.2% during the 3rd quarter. Oslo Asset Management AS now owns 155,000 shares of the semiconductor company’s stock valued at $4,692,000 after acquiring an additional 25,000 shares during the period. Ariose Capital Management Ltd grew its position in shares of Daqo New Energy by 324.8% during the 3rd quarter. Ariose Capital Management Ltd now owns 800,124 shares of the semiconductor company’s stock valued at $24,220,000 after acquiring an additional 611,755 shares during the period. Sumitomo Mitsui Trust Holdings Inc. grew its position in shares of Daqo New Energy by 4.0% during the 3rd quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 147,521 shares of the semiconductor company’s stock valued at $4,465,000 after acquiring an additional 5,639 shares during the period. Finally, Mitsubishi UFJ Kokusai Asset Management Co. Ltd. grew its position in shares of Daqo New Energy by 1.2% during the 3rd quarter. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. now owns 46,845 shares of the semiconductor company’s stock valued at $1,418,000 after acquiring an additional 566 shares during the period. 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.