Daqo New Energy Corp. (NYSE:DQ) Receives $22.26 Average Target Price from Analysts

Daqo New Energy Corp. (NYSE:DQ) has been assigned a consensus rating of “Buy” from the eight brokerages that are currently covering the company, MarketBeat.com reports. One research analyst has rated the stock with a hold rating, four have given a buy rating and three have assigned a strong buy rating to the company. The average 1-year target price among brokerages that have issued ratings on the stock in the last year is $22.26.

DQ has been the topic of several analyst reports. Daiwa America raised Daqo New Energy from a “hold” rating to a “strong-buy” rating in a research note on Wednesday, October 30th. Daiwa Capital Markets raised Daqo New Energy from a “neutral” rating to an “outperform” rating in a research note on Wednesday, October 30th. Hsbc Global Res raised Daqo New Energy from a “hold” rating to a “strong-buy” rating in a research note on Wednesday, October 2nd. Finally, HSBC raised Daqo New Energy from a “hold” rating to a “buy” rating in a research note on Wednesday, October 2nd.

Daqo New Energy Stock Up 2.7 %

Shares of DQ stock opened at $18.09 on Thursday. The business has a 50-day moving average price of $19.18 and a two-hundred day moving average price of $18.55. Daqo New Energy has a 12-month low of $13.62 and a 12-month high of $30.85. The firm has a market cap of $1.19 billion, a P/E ratio of -9.78 and a beta of 0.26.

Daqo New Energy (NYSE:DQ) last issued its quarterly earnings data on Wednesday, October 30th. The semiconductor company reported ($0.92) earnings per share for the quarter, missing the consensus estimate of ($0.80) by ($0.12). Daqo New Energy had a negative return on equity of 1.90% and a negative net margin of 9.16%. The company had revenue of $198.50 million for the quarter, compared to the consensus estimate of $186.90 million. During the same period in the previous year, the firm earned ($0.09) earnings per share. As a group, research analysts expect that Daqo New Energy will post -3.5 EPS for the current fiscal year.

Institutional Trading of Daqo New Energy

A number of large investors have recently modified their holdings of the company. Signaturefd LLC lifted its holdings in Daqo New Energy by 27.3% during the third quarter. Signaturefd LLC now owns 2,809 shares of the semiconductor company’s stock worth $57,000 after buying an additional 602 shares during the period. Blue Trust Inc. lifted its holdings in Daqo New Energy by 132.3% during the third quarter. Blue Trust Inc. now owns 4,567 shares of the semiconductor company’s stock worth $93,000 after buying an additional 2,601 shares during the period. AXA S.A. lifted its holdings in Daqo New Energy by 202.3% during the second quarter. AXA S.A. now owns 6,387 shares of the semiconductor company’s stock worth $93,000 after buying an additional 4,274 shares during the period. Rhumbline Advisers lifted its holdings in Daqo New Energy by 22.2% during the second quarter. Rhumbline Advisers now owns 8,104 shares of the semiconductor company’s stock worth $118,000 after buying an additional 1,470 shares during the period. Finally, Daiwa Securities Group Inc. lifted its holdings in Daqo New Energy by 15.4% during the third quarter. Daiwa Securities Group Inc. now owns 10,500 shares of the semiconductor company’s stock worth $214,000 after buying an additional 1,400 shares during the period. Hedge funds and other institutional investors own 47.22% of the company’s stock.

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.