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

Shares of Daqo New Energy Corp. (NYSE:DQ) have earned an average recommendation of “Buy” from the eight ratings firms that are presently covering the firm, MarketBeat reports. One analyst has rated the stock with a hold recommendation, four have issued a buy recommendation and three have given a strong buy recommendation to the company. The average twelve-month price target among analysts that have covered the stock in the last year is $22.26.

Separately, StockNews.com raised shares of Daqo New Energy to a “sell” rating in a research note on Monday.

Daqo New Energy Stock Performance

Daqo New Energy stock opened at $19.58 on Monday. Daqo New Energy has a fifty-two week low of $13.62 and a fifty-two week high of $30.85. The company has a market capitalization of $1.29 billion, a price-to-earnings ratio of -10.59 and a beta of 0.25. The stock has a fifty day moving average of $19.84 and a two-hundred day moving average of $19.26.

Daqo New Energy (NYSE:DQ) last posted its quarterly earnings data on Thursday, February 27th. The semiconductor company reported ($2.71) EPS for the quarter, missing analysts’ consensus estimates of ($0.69) by ($2.02). The company had revenue of $195.36 million for the quarter, compared to analysts’ expectations of $153.54 million. Daqo New Energy had a negative return on equity of 1.90% and a negative net margin of 9.16%. On average, analysts forecast that Daqo New Energy will post -3.5 EPS for the current fiscal year.

Institutional Investors Weigh In On Daqo New Energy

Hedge funds have recently modified their holdings of the stock. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its holdings in shares of Daqo New Energy by 32.2% in the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 135,732 shares of the semiconductor company’s stock valued at $2,765,000 after purchasing an additional 33,031 shares during the last quarter. Public Employees Retirement System of Ohio acquired a new position in Daqo New Energy in the third quarter valued at $1,053,000. Ariose Capital Management Ltd boosted its holdings in Daqo New Energy by 27.5% in the fourth quarter. Ariose Capital Management Ltd now owns 1,505,709 shares of the semiconductor company’s stock valued at $29,271,000 after acquiring an additional 324,585 shares during the last quarter. BNP Paribas Financial Markets grew its position in Daqo New Energy by 57.5% during the third quarter. BNP Paribas Financial Markets now owns 74,571 shares of the semiconductor company’s stock valued at $1,519,000 after acquiring an additional 27,223 shares during the period. Finally, Geode Capital Management LLC increased its stake in Daqo New Energy by 9.2% during the third quarter. Geode Capital Management LLC now owns 33,546 shares of the semiconductor company’s stock worth $683,000 after acquiring an additional 2,813 shares during the last quarter. 47.22% of the stock is owned by institutional investors and hedge funds.

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.