DAQO New Energy Corp. (NYSE:DQ) Receives $23.59 Average PT from Analysts

DAQO New Energy Corp. (NYSE:DQ) has been given a consensus recommendation of “Hold” by the seven research firms that are presently covering the firm, MarketBeat.com reports. Two investment analysts have rated the stock with a sell rating, three have assigned a hold rating, one has issued a buy rating and one has given a strong buy rating to the company. The average 12 month price objective among brokerages that have issued a report on the stock in the last year is $23.5933.

Several analysts have weighed in on DQ shares. Wall Street Zen lowered shares of DAQO New Energy from a “hold” rating to a “strong sell” rating in a research note on Saturday, May 2nd. Roth Capital set a $19.00 target price on DAQO New Energy in a research note on Thursday, April 30th. Weiss Ratings raised DAQO New Energy from a “sell (e+)” rating to a “sell (d-)” rating in a report on Monday, July 6th. Finally, Zacks Research raised DAQO New Energy from a “strong sell” rating to a “hold” rating in a report on Monday, June 29th.

Hedge Funds Weigh In On DAQO New Energy

Institutional investors have recently bought and sold shares of the stock. Ariose Capital Management Ltd lifted its stake in shares of DAQO New Energy by 35.0% in the fourth quarter. Ariose Capital Management Ltd now owns 457,155 shares of the semiconductor company’s stock worth $13,486,000 after buying an additional 118,500 shares during the last quarter. Polunin Capital Partners Ltd increased its holdings in DAQO New Energy by 13.6% in the 4th quarter. Polunin Capital Partners Ltd now owns 1,458,705 shares of the semiconductor company’s stock valued at $43,032,000 after buying an additional 174,747 shares during the period. JPMorgan Chase & Co. lifted its stake in DAQO New Energy by 165.4% during the third quarter. JPMorgan Chase & Co. now owns 96,270 shares of the semiconductor company’s stock worth $2,708,000 after purchasing an additional 60,002 shares during the period. BlueCrest Capital Management Ltd acquired a new stake in DAQO New Energy in the 3rd quarter valued at $1,170,000. Finally, Leonteq Securities AG acquired a new stake in shares of DAQO New Energy during the fourth quarter worth approximately $95,000. Hedge funds and other institutional investors own 47.22% of the company’s stock.

DAQO New Energy Stock Performance

DAQO New Energy stock opened at $12.17 on Thursday. The company has a market cap of $823.75 million, a price-to-earnings ratio of -4.38 and a beta of 0.65. The firm has a 50 day moving average price of $15.01 and a 200 day moving average price of $20.63. DAQO New Energy has a 1 year low of $11.55 and a 1 year high of $36.59.

DAQO New Energy (NYSE:DQ) last issued its earnings results on Wednesday, April 29th. The semiconductor company reported ($1.31) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.13) by ($1.18). The firm had revenue of $26.72 million during the quarter, compared to analyst estimates of $186.28 million. DAQO New Energy had a negative net margin of 32.92% and a negative return on equity of 3.19%. Sell-side analysts predict that DAQO New Energy will post -1.31 EPS for the current year.

About DAQO New Energy

DAQO New Energy Corp. operates as a leading manufacturer of high-purity polysilicon and monocrystalline silicon wafers for the global solar photovoltaic industry. The company focuses on serving module makers and integrated solar producers with critical upstream materials, applying proprietary technologies and optimized processes to achieve high product purity and consistently low production costs. Its core offerings include solar-grade polysilicon—used in the ingot casting and wafer slicing stages—and premium mono-silicon wafers, which are a key input for high-efficiency solar cell production.

Founded in the late 2000s and listed on the New York Stock Exchange in 2010, DAQO New Energy established its first polysilicon facility in China’s Xinjiang Uygur Autonomous Region.