DAQO New Energy Corp. (NYSE:DQ) Receives Average Rating of “Hold” from Analysts

Shares of DAQO New Energy Corp. (NYSE:DQ) have earned an average rating of “Hold” from the six brokerages that are covering the firm, MarketBeat reports. Two equities research analysts have rated the stock with a sell recommendation, two have issued a hold recommendation, one has assigned a buy recommendation and one has given a strong buy recommendation to the company. The average 1-year price target among brokerages that have updated their coverage on the stock in the last year is $25.4267.

Several brokerages have recently weighed in on DQ. The Goldman Sachs Group set a $18.30 target price on shares of DAQO New Energy and gave the company a “neutral” rating in a research report on Wednesday, October 29th. Roth Mkm set a $30.00 price target on shares of DAQO New Energy and gave the stock a “neutral” rating in a research note on Tuesday, October 28th. Glj Research lowered DAQO New Energy from a “buy” rating to a “sell” rating and lowered their price objective for the company from $30.51 to $18.13 in a research note on Tuesday, February 3rd. Wall Street Zen raised DAQO New Energy from a “sell” rating to a “hold” rating in a report on Monday, November 3rd. Finally, Weiss Ratings restated a “sell (d-)” rating on shares of DAQO New Energy in a research report on Monday, December 29th.

DAQO New Energy Trading Down 1.4%

NYSE DQ opened at $24.82 on Monday. DAQO New Energy has a 1 year low of $12.40 and a 1 year high of $36.59. The company has a fifty day simple moving average of $28.13 and a 200 day simple moving average of $27.71. The company has a market cap of $1.66 billion, a P/E ratio of -4.83 and a beta of 0.70.

Hedge Funds Weigh In On DAQO New Energy

Several hedge funds have recently added to or reduced their stakes in the company. Quarry LP acquired a new position in shares of DAQO New Energy in the 3rd quarter valued at $26,000. Headlands Technologies LLC bought a new stake in DAQO New Energy in the second quarter valued at about $29,000. Farther Finance Advisors LLC lifted its stake in DAQO New Energy by 1,650.0% in the fourth quarter. Farther Finance Advisors LLC now owns 1,330 shares of the semiconductor company’s stock valued at $39,000 after buying an additional 1,254 shares during the period. Banque Cantonale Vaudoise acquired a new position in DAQO New Energy in the fourth quarter valued at about $55,000. Finally, Pinpoint Asset Management Singapore Pte. Ltd. boosted its holdings in DAQO New Energy by 777.7% during the third quarter. Pinpoint Asset Management Singapore Pte. Ltd. now owns 2,633 shares of the semiconductor company’s stock worth $74,000 after buying an additional 2,333 shares during the last quarter. Institutional investors own 47.22% of the company’s stock.

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.