Daqo New Energy Corp. (NYSE:DQ) Receives $22.26 Average Target Price from Brokerages

Shares of Daqo New Energy Corp. (NYSE:DQ) have been assigned a consensus rating of “Buy” from the eight ratings firms that are presently covering the firm, MarketBeat.com reports. One research analyst has rated the stock with a hold recommendation, four have issued a buy recommendation and three have assigned a strong buy recommendation to the company. The average twelve-month price target among brokers that have issued ratings on the stock in the last year is $22.26.

A number of analysts have recently weighed in on DQ shares. Daiwa Capital Markets raised shares of Daqo New Energy from a “neutral” rating to an “outperform” rating in a report on Wednesday, October 30th. HSBC upgraded Daqo New Energy from a “hold” rating to a “buy” rating in a research note on Wednesday, October 2nd. Daiwa America upgraded Daqo New Energy from a “hold” rating to a “strong-buy” rating in a research report on Wednesday, October 30th. Hsbc Global Res upgraded Daqo New Energy from a “hold” rating to a “strong-buy” rating in a research report on Wednesday, October 2nd. Finally, StockNews.com upgraded shares of Daqo New Energy to a “sell” rating in a research note on Monday, September 23rd.

Institutional Trading of Daqo New Energy

Institutional investors have recently bought and sold shares of the company. Signaturefd LLC boosted its holdings in shares of Daqo New Energy by 27.3% during the 3rd quarter. Signaturefd LLC now owns 2,809 shares of the semiconductor company’s stock worth $57,000 after buying an additional 602 shares in the last quarter. Blue Trust Inc. lifted its position in shares of Daqo New Energy by 132.3% during the 3rd quarter. Blue Trust Inc. now owns 4,567 shares of the semiconductor company’s stock valued at $93,000 after acquiring an additional 2,601 shares during the period. AXA S.A. boosted its stake in Daqo New Energy by 202.3% during the second quarter. AXA S.A. now owns 6,387 shares of the semiconductor company’s stock worth $93,000 after acquiring an additional 4,274 shares in the last quarter. Rhumbline Advisers grew its holdings in Daqo New Energy by 22.2% in the second quarter. Rhumbline Advisers now owns 8,104 shares of the semiconductor company’s stock worth $118,000 after purchasing an additional 1,470 shares during the period. Finally, Daiwa Securities Group Inc. increased its stake in Daqo New Energy by 15.4% in the third quarter. Daiwa Securities Group Inc. now owns 10,500 shares of the semiconductor company’s stock valued at $214,000 after purchasing an additional 1,400 shares in the last quarter. Institutional investors own 47.22% of the company’s stock.

Daqo New Energy Stock Performance

DQ opened at $19.44 on Friday. The stock has a fifty day moving average of $20.33 and a 200-day moving average of $18.16. The company has a market capitalization of $1.28 billion, a P/E ratio of -10.51 and a beta of 0.28. Daqo New Energy has a fifty-two week low of $13.62 and a fifty-two week high of $30.85.

Daqo New Energy (NYSE:DQ) last issued its quarterly earnings data on Wednesday, October 30th. The semiconductor company reported ($0.92) earnings per share for the quarter, missing the consensus estimate of ($0.80) by ($0.12). Daqo New Energy had a negative return on equity of 1.90% and a negative net margin of 9.16%. The business had revenue of $198.50 million during the quarter, compared to analyst estimates of $186.90 million. During the same quarter last year, the firm earned ($0.09) EPS. On average, equities research analysts predict that Daqo New Energy will post -3.5 earnings per share for the current fiscal year.

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.