Daqo New Energy Corp. (NYSE:DQ) Receives $79.85 Average PT from Brokerages

Daqo New Energy Corp. (NYSE:DQGet Rating) has been given a consensus rating of “Buy” by the nine analysts that are covering the firm, MarketBeat Ratings reports. Four investment analysts have rated the stock with a hold rating and four have given a buy rating to the company. The average 1-year target price among brokers that have updated their coverage on the stock in the last year is $79.85.

Several equities research analysts recently issued reports on DQ shares. Zacks Investment Research upgraded Daqo New Energy from a “hold” rating to a “buy” rating and set a $43.00 price target for the company in a report on Wednesday, February 23rd. TheStreet cut Daqo New Energy from a “b-” rating to a “c+” rating in a research report on Monday, January 24th. Finally, StockNews.com began coverage on Daqo New Energy in a research report on Thursday, March 31st. They set a “buy” rating on the stock.

Daqo New Energy stock traded down $1.53 during mid-day trading on Friday, hitting $42.42. 1,442,575 shares of the company’s stock traded hands, compared to its average volume of 1,610,464. The stock has a market cap of $3.12 billion, a price-to-earnings ratio of 4.30 and a beta of 0.75. The firm has a 50 day simple moving average of $43.07 and a two-hundred day simple moving average of $49.06. Daqo New Energy has a fifty-two week low of $32.20 and a fifty-two week high of $92.00.

Daqo New Energy (NYSE:DQGet Rating) last issued its quarterly earnings results on Monday, February 28th. The semiconductor company reported $1.94 EPS for the quarter, missing the Zacks’ consensus estimate of $2.34 by ($0.40). Daqo New Energy had a return on equity of 48.35% and a net margin of 45.04%. The company had revenue of $395.55 million during the quarter, compared to the consensus estimate of $510.30 million. During the same quarter in the previous year, the business posted $0.96 EPS. Equities research analysts forecast that Daqo New Energy will post 17.86 EPS for the current year.

Hedge funds have recently modified their holdings of the company. Hexavest Inc. purchased a new position in Daqo New Energy during the 3rd quarter worth $223,000. Green Alpha Advisors LLC lifted its stake in shares of Daqo New Energy by 3.2% in the fourth quarter. Green Alpha Advisors LLC now owns 14,985 shares of the semiconductor company’s stock valued at $604,000 after purchasing an additional 470 shares during the period. Russell Investments Group Ltd. lifted its stake in shares of Daqo New Energy by 215.5% in the fourth quarter. Russell Investments Group Ltd. now owns 172,386 shares of the semiconductor company’s stock valued at $7,005,000 after purchasing an additional 117,740 shares during the period. Nordea Investment Management AB acquired a new stake in shares of Daqo New Energy in the third quarter valued at about $2,564,000. Finally, Point72 Hong Kong Ltd lifted its stake in shares of Daqo New Energy by 2,904.7% in the third quarter. Point72 Hong Kong Ltd now owns 312,400 shares of the semiconductor company’s stock valued at $17,807,000 after purchasing an additional 302,003 shares during the period. Hedge funds and other institutional investors own 68.12% of the company’s stock.

Daqo New Energy Company Profile (Get Rating)

Daqo New Energy Corp. is a holding company, which engages in the provision of polysilicon products. It involves in the manufacture and sale of polysilicon to photovoltaic product manufactures, who further process the polysilicon into ingots, wafers, cells, and modules for solar power solutions. The company was founded by Guang Fu Xu on November 22, 2007 and is headquartered in Shanghai, China.

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