DAQO New Energy Corp. (NYSE:DQ) Receives Average Recommendation of “Moderate Buy” from Analysts

DAQO New Energy Corp. (NYSE:DQ) has been given a consensus rating of “Moderate Buy” by the ten brokerages that are currently covering the stock, MarketBeat reports. Four analysts have rated the stock with a hold rating, four have issued a buy rating and two have issued a strong buy rating on the company. The average 12 month price objective among brokerages that have covered the stock in the last year is $23.2229.

A number of research firms recently commented on DQ. Hsbc Global Res downgraded DAQO New Energy from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, April 30th. Glj Research upgraded DAQO New Energy from a “sell” rating to a “buy” rating and set a $30.51 target price on the stock in a research report on Thursday, July 10th. HSBC downgraded DAQO New Energy from a “buy” rating to a “hold” rating and set a $14.00 target price on the stock. in a research report on Wednesday, April 30th. Finally, Citigroup began coverage on DAQO New Energy in a research report on Friday, July 18th. They issued a “buy” rating and a $27.00 target price on the stock.

DAQO New Energy Trading Up 1.8%

NYSE:DQ opened at $22.8750 on Monday. The company has a market capitalization of $1.53 billion, a P/E ratio of -3.51 and a beta of 0.48. DAQO New Energy has a 12 month low of $12.40 and a 12 month high of $30.85. The business’s 50-day moving average is $19.70 and its 200 day moving average is $17.61.

Institutional Investors Weigh In On DAQO New Energy

Hedge funds have recently made changes to their positions in the company. Caitong International Asset Management Co. Ltd raised its position 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 purchasing an additional 1,734 shares during the period. Headlands Technologies LLC bought a new stake in shares of DAQO New Energy in the 2nd quarter valued at approximately $29,000. CoreCommodity Management LLC lifted its stake in shares of DAQO New Energy by 1.6% in the 4th quarter. CoreCommodity Management LLC now owns 134,888 shares of the semiconductor company’s stock valued at $2,622,000 after purchasing an additional 2,183 shares during the last quarter. Nuveen Asset Management LLC lifted its stake in shares of DAQO New Energy by 16.7% in the 4th quarter. Nuveen Asset Management LLC now owns 39,200 shares of the semiconductor company’s stock valued at $762,000 after purchasing an additional 5,600 shares during the last quarter. Finally, Mitsubishi UFJ Asset Management Co. Ltd. lifted its stake in shares of DAQO New Energy by 39.1% in the 2nd quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 31,364 shares of the semiconductor company’s stock valued at $476,000 after purchasing an additional 8,815 shares during the last quarter. 47.22% of the stock is currently owned by hedge funds and other institutional investors.

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.