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

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

Separately, StockNews.com raised shares of Daqo New Energy to a “sell” rating in a report on Tuesday, March 18th.

Daqo New Energy Stock Performance

Shares of DQ stock opened at $18.56 on Friday. The company has a market capitalization of $1.22 billion, a PE ratio of -10.03 and a beta of 0.41. Daqo New Energy has a 52-week low of $13.62 and a 52-week high of $30.85. The business’s fifty day moving average is $19.56 and its 200 day moving average is $19.77.

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

Hedge Funds Weigh In On Daqo New Energy

Several institutional investors and hedge funds have recently made changes to their positions in DQ. Greenwoods Asset Management Hong Kong Ltd. lifted its position in Daqo New Energy by 5,286.6% in the fourth quarter. Greenwoods Asset Management Hong Kong Ltd. now owns 2,714,780 shares of the semiconductor company’s stock valued at $52,775,000 after purchasing an additional 2,664,381 shares during the last quarter. Prudential PLC bought a new position in Daqo New Energy in the fourth quarter worth about $14,775,000. Point72 Asset Management L.P. raised its position in shares of Daqo New Energy by 67.5% in the 4th quarter. Point72 Asset Management L.P. now owns 886,655 shares of the semiconductor company’s stock worth $17,237,000 after acquiring an additional 357,460 shares in the last quarter. Ariose Capital Management Ltd lifted its stake in shares of Daqo New Energy by 27.5% in the 4th quarter. Ariose Capital Management Ltd now owns 1,505,709 shares of the semiconductor company’s stock valued at $29,271,000 after purchasing an additional 324,585 shares during the period. Finally, Continental General Insurance Co. boosted its position in shares of Daqo New Energy by 5.8% during the fourth quarter. Continental General Insurance Co. now owns 5,916,202 shares of the semiconductor company’s stock valued at $115,011,000 after purchasing an additional 322,084 shares in the last quarter. 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.