Daqo New Energy Corp. (NYSE:DQ) Receives $21.01 Average Price Target from Brokerages

Shares of Daqo New Energy Corp. (NYSE:DQ) have received a consensus recommendation of “Moderate Buy” from the eight brokerages that are currently covering the stock, MarketBeat reports. Four research analysts have rated the stock with a hold recommendation, two have given a buy recommendation and two have given a strong buy recommendation to the company. The average 1 year price objective among brokers that have issued a report on the stock in the last year is $21.01.

Several equities analysts recently weighed in on DQ shares. HSBC lowered shares of Daqo New Energy from a “buy” rating to a “hold” rating and set a $14.00 price objective on the stock. in a research report on Wednesday, April 30th. Hsbc Global Res downgraded shares of Daqo New Energy from a “strong-buy” rating to a “hold” rating in a report on Wednesday, April 30th. The Goldman Sachs Group cut shares of Daqo New Energy from a “buy” rating to a “neutral” rating and set a $17.00 price objective for the company. in a report on Tuesday, April 15th. Finally, StockNews.com upgraded Daqo New Energy to a “sell” rating in a report on Monday, April 21st.

Daqo New Energy Trading Down 1.7%

NYSE DQ opened at $14.34 on Friday. Daqo New Energy has a 1-year low of $12.41 and a 1-year high of $30.85. The firm’s fifty day simple moving average is $15.49 and its 200-day simple moving average is $18.24. The company has a market capitalization of $961.60 million, a PE ratio of -7.75 and a beta of 0.58.

Daqo New Energy (NYSE:DQ) last issued its earnings results on Tuesday, April 29th. The semiconductor company reported ($1.07) earnings per share for the quarter, missing the consensus estimate of ($1.02) by ($0.05). The firm had revenue of $123.91 million during the quarter, compared to analyst estimates of $176.81 million. Daqo New Energy had a negative return on equity of 1.90% and a negative net margin of 9.16%. As a group, analysts predict that Daqo New Energy will post -3.5 EPS for the current year.

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of DQ. Caitong International Asset Management Co. Ltd boosted its holdings in Daqo New Energy by 86,700.0% during the first quarter. Caitong International Asset Management Co. Ltd now owns 1,736 shares of the semiconductor company’s stock valued at $31,000 after acquiring an additional 1,734 shares during the period. Generali Investments CEE investicni spolecnost a.s. acquired a new position in shares of Daqo New Energy during the 4th quarter worth about $52,000. Virtu Financial LLC bought a new stake in Daqo New Energy during the 1st quarter valued at approximately $187,000. Vident Advisory LLC acquired a new stake in Daqo New Energy in the 1st quarter valued at approximately $216,000. Finally, Harvest Portfolios Group Inc. acquired a new stake in Daqo New Energy in the 1st quarter valued at approximately $305,000. Institutional investors own 47.22% of the company’s stock.

About Daqo New Energy

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.