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

Daqo New Energy Corp. (NYSE:DQ) has been assigned an average recommendation of “Moderate Buy” from the eight ratings firms that are covering the stock, Marketbeat reports. Four equities research analysts have rated the stock with a hold rating, two have given a buy rating and two have given a strong buy rating to the company. The average 1 year target price among analysts that have updated their coverage on the stock in the last year is $21.01.

A number of equities research analysts recently weighed in on the stock. The Goldman Sachs Group downgraded shares of Daqo New Energy from a “buy” rating to a “neutral” rating and set a $17.00 target price on the stock. in a research note on Tuesday, April 15th. Hsbc Global Res lowered shares of Daqo New Energy from a “strong-buy” rating to a “hold” rating in a report on Wednesday, April 30th. HSBC cut 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. Finally, Wall Street Zen upgraded shares of Daqo New Energy to a “sell” rating in a research report on Monday, April 21st.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently bought and sold shares of the business. Van ECK Associates Corp grew its stake in shares of Daqo New Energy by 7.6% during the fourth quarter. Van ECK Associates Corp now owns 20,067 shares of the semiconductor company’s stock valued at $390,000 after buying an additional 1,410 shares during the last quarter. Caitong International Asset Management Co. Ltd boosted its holdings in Daqo New Energy by 86,700.0% during the 1st 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. CoreCommodity Management LLC grew its position in Daqo New Energy by 1.6% during the 4th quarter. CoreCommodity Management LLC now owns 134,888 shares of the semiconductor company’s stock worth $2,622,000 after acquiring an additional 2,183 shares during the last quarter. Generali Investments CEE investicni spolecnost a.s. bought a new position in Daqo New Energy during the 4th quarter worth approximately $52,000. Finally, Diametric Capital LP increased its stake in Daqo New Energy by 25.5% in the 4th quarter. Diametric Capital LP now owns 16,018 shares of the semiconductor company’s stock worth $311,000 after purchasing an additional 3,255 shares during the period. 47.22% of the stock is currently owned by institutional investors.

Daqo New Energy Stock Performance

Daqo New Energy stock opened at $14.73 on Wednesday. Daqo New Energy has a fifty-two week low of $12.41 and a fifty-two week high of $30.85. The stock has a market cap of $987.48 million, a P/E ratio of -7.96 and a beta of 0.59. The firm’s fifty day moving average price is $13.93 and its 200-day moving average price is $17.49.

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

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.