DAQO New Energy Corp. (NYSE:DQ) Receives $25.43 Average PT from Brokerages

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

DQ has been the subject of a number of recent analyst reports. New Street Research set a $18.13 price objective on DAQO New Energy in a research report on Tuesday, February 3rd. Glj Research cut shares of DAQO New Energy from a “buy” rating to a “sell” rating and dropped their price target for the company from $30.51 to $18.13 in a research note on Tuesday, February 3rd. Finally, Weiss Ratings reissued a “sell (d-)” rating on shares of DAQO New Energy in a report on Monday, December 29th.

DAQO New Energy Stock Down 1.7%

DQ stock opened at $23.08 on Friday. DAQO New Energy has a 52-week low of $12.40 and a 52-week high of $36.59. The firm has a market cap of $1.55 billion, a P/E ratio of -9.09 and a beta of 0.68. The company’s 50-day simple moving average is $24.90 and its 200-day simple moving average is $27.93.

DAQO New Energy (NYSE:DQ) last announced its quarterly earnings results on Thursday, February 26th. The semiconductor company reported ($0.11) earnings per share for the quarter, missing the consensus estimate of ($0.04) by ($0.07). The business had revenue of $221.71 million during the quarter, compared to analysts’ expectations of $276.94 million. DAQO New Energy had a negative net margin of 25.62% and a negative return on equity of 2.92%. On average, analysts anticipate that DAQO New Energy will post -3.5 earnings per share for the current fiscal year.

Institutional Trading of DAQO New Energy

Institutional investors and hedge funds have recently modified their holdings of the stock. Caitong International Asset Management Co. Ltd purchased a new position in DAQO New Energy in the 4th quarter valued at about $49,000. MidFirst Bank purchased a new stake in DAQO New Energy during the 4th quarter worth approximately $236,000. Compound Planning Inc. raised its holdings in shares of DAQO New Energy by 19.2% during the fourth quarter. Compound Planning Inc. now owns 19,518 shares of the semiconductor company’s stock valued at $576,000 after acquiring an additional 3,146 shares during the last quarter. Invesco Ltd. raised its holdings in shares of DAQO New Energy by 22.6% during the fourth quarter. Invesco Ltd. now owns 1,429,565 shares of the semiconductor company’s stock valued at $42,172,000 after acquiring an additional 263,614 shares during the last quarter. Finally, Vident Advisory LLC purchased a new position in shares of DAQO New Energy in the fourth quarter valued at approximately $349,000. Hedge funds and other 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.