Roth Capital Analysts Give DAQO New Energy Corp. (DQ) a $35.00 Price Target
DAQO New Energy Corp. (NYSE:DQ) has been assigned a $35.00 price objective by investment analysts at Roth Capital in a report issued on Monday. The brokerage presently has a “buy” rating on the semiconductor company’s stock. Roth Capital’s price target would indicate a potential upside of 10.24% from the stock’s current price.
Several other analysts have also recently commented on DQ. Zacks Investment Research upgraded DAQO New Energy Corp. from a “hold” rating to a “buy” rating and set a $33.00 price target for the company in a research report on Friday, September 29th. ValuEngine upgraded DAQO New Energy Corp. from a “buy” rating to a “strong-buy” rating in a research report on Friday, September 1st. Finally, BidaskClub upgraded DAQO New Energy Corp. from a “sell” rating to a “hold” rating in a research report on Monday, July 24th. Two analysts have rated the stock with a hold rating, two have given a buy rating and one has assigned a strong buy rating to the company. The company presently has an average rating of “Buy” and a consensus price target of $36.00.
DAQO New Energy Corp. (NYSE:DQ) traded down 3.953% on Monday, reaching $30.495. The company’s stock had a trading volume of 145,875 shares. The firm has a 50-day moving average of $28.38 and a 200 day moving average of $23.33. The company has a market capitalization of $321.08 million, a price-to-earnings ratio of 6.366 and a beta of 1.86. DAQO New Energy Corp. has a 12-month low of $18.01 and a 12-month high of $34.64.
DAQO New Energy Corp. (NYSE:DQ) last issued its quarterly earnings results on Tuesday, August 8th. The semiconductor company reported $1.19 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $1.38 by ($0.19). DAQO New Energy Corp. had a return on equity of 18.90% and a net margin of 19.35%. The firm had revenue of $76.00 million for the quarter, compared to analysts’ expectations of $71.80 million. During the same quarter in the previous year, the firm posted $1.87 earnings per share. On average, equities research analysts anticipate that DAQO New Energy Corp. will post $5.88 EPS for the current fiscal year.
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Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Morgan Stanley boosted its stake in DAQO New Energy Corp. by 243.5% during the first quarter. Morgan Stanley now owns 100,534 shares of the semiconductor company’s stock worth $1,888,000 after buying an additional 71,264 shares during the last quarter. Quentec Asset Management LLC boosted its stake in DAQO New Energy Corp. by 5.0% during the second quarter. Quentec Asset Management LLC now owns 977,106 shares of the semiconductor company’s stock worth $20,285,000 after buying an additional 46,888 shares during the last quarter. Dymon Asia Capital Ltd. acquired a new position in DAQO New Energy Corp. during the second quarter worth $2,886,000. KCG Holdings Inc. acquired a new position in DAQO New Energy Corp. during the first quarter worth $377,000. Finally, Summit Partners Public Asset Management LLC boosted its stake in DAQO New Energy Corp. by 94.9% during the first quarter. Summit Partners Public Asset Management LLC now owns 220,000 shares of the semiconductor company’s stock worth $4,129,000 after buying an additional 107,100 shares during the last quarter. 28.39% of the stock is currently owned by institutional investors.
About DAQO New Energy Corp.
Daqo New Energy Corp. is a polysilicon manufacturer. The Company utilizes the chemical vapor deposition process, or the modified Siemens process, to produce polysilicon. The Company’s segments include Polysilicon and Wafer. The Company manufactures and sells polysilicon to photovoltaic product manufacturers, whereby the polysilicon is processed into ingots, wafers, cells and modules for solar power solutions.
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