Daqo New Energy Corp. (NYSE:DQ) Receives Average Rating of “Buy” from Brokerages

Shares of Daqo New Energy Corp. (NYSE:DQGet Rating) have been given a consensus recommendation of “Buy” by the nine analysts that are presently covering the company, Marketbeat reports. Four research analysts have rated the stock with a hold recommendation and four have given a buy recommendation to the company. The average 1 year target price among brokers that have issued a report on the stock in the last year is $79.85.

Several equities research analysts have recently commented on DQ shares. TheStreet lowered shares of Daqo New Energy from a “b-” rating to a “c+” rating in a research report on Monday, January 24th. Zacks Investment Research upgraded shares of Daqo New Energy from a “hold” rating to a “buy” rating and set a $43.00 price target on the stock in a research report on Wednesday, February 23rd. Finally, StockNews.com raised shares of Daqo New Energy from a “hold” rating to a “buy” rating in a research report on Thursday.

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. First Trust Advisors LP increased its stake in Daqo New Energy by 3.8% during the first quarter. First Trust Advisors LP now owns 9,808 shares of the semiconductor company’s stock worth $324,000 after acquiring an additional 359 shares during the last quarter. Amundi Pioneer Asset Management Inc. purchased a new position in shares of Daqo New Energy in the 1st quarter worth approximately $727,000. Wells Fargo & Company MN increased its position in shares of Daqo New Energy by 117.1% during the 2nd quarter. Wells Fargo & Company MN now owns 27,240 shares of the semiconductor company’s stock valued at $1,772,000 after purchasing an additional 14,695 shares during the last quarter. Morgan Stanley raised its holdings in Daqo New Energy by 101.4% during the 2nd quarter. Morgan Stanley now owns 1,171,353 shares of the semiconductor company’s stock valued at $76,161,000 after buying an additional 589,693 shares during the period. Finally, Nordea Investment Management AB bought a new stake in Daqo New Energy in the third quarter worth $2,564,000. Institutional investors own 68.12% of the company’s stock.

DQ opened at $39.86 on Thursday. The stock has a market capitalization of $2.97 billion, a price-to-earnings ratio of 2.53 and a beta of 0.75. The firm has a 50 day moving average price of $43.96 and a 200-day moving average price of $47.70. Daqo New Energy has a twelve month low of $32.20 and a twelve month high of $90.48.

Daqo New Energy (NYSE:DQGet Rating) last released its quarterly earnings results on Thursday, April 21st. The semiconductor company reported $6.99 earnings per share for the quarter, beating the consensus estimate of $6.81 by $0.18. Daqo New Energy had a return on equity of 63.50% and a net margin of 44.72%. During the same quarter in the previous year, the business posted $1.08 EPS. On average, equities analysts predict that Daqo New Energy will post 17.86 earnings per share for the current year.

About Daqo New Energy (Get Rating)

Daqo New Energy Corp., together with its subsidiaries, manufactures and sells polysilicon to photovoltaic product manufactures 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.

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Analyst Recommendations for Daqo New Energy (NYSE:DQ)

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