Shares of Daqo New Energy Corp (NYSE:DQ) have received an average rating of “Buy” from the six research firms that are currently covering the stock, Marketbeat reports. One research analyst has rated the stock with a hold rating, two have assigned a buy rating and two have 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 $51.67.

A number of research analysts have recently weighed in on DQ shares. Zacks Investment Research lowered Daqo New Energy from a “buy” rating to a “hold” rating in a report on Tuesday, October 10th. Roth Capital set a $35.00 price objective on Daqo New Energy and gave the company a “buy” rating in a report on Sunday, August 20th. Finally, ValuEngine raised Daqo New Energy from a “buy” rating to a “strong-buy” rating in a report on Friday, September 1st.

Daqo New Energy (DQ) opened at $52.20 on Tuesday. The company has a quick ratio of 0.49, a current ratio of 0.57 and a debt-to-equity ratio of 0.34. The firm has a market capitalization of $519.71, a PE ratio of 8.00, a PEG ratio of 0.98 and a beta of 2.05. Daqo New Energy has a 1-year low of $18.01 and a 1-year high of $58.49.

Hedge funds have recently made changes to their positions in the company. Morgan Stanley increased its holdings in shares of Daqo New Energy by 243.5% in the first quarter. Morgan Stanley now owns 100,534 shares of the semiconductor company’s stock valued at $1,888,000 after purchasing an additional 71,264 shares during the period. Quentec Asset Management LLC grew its holdings in Daqo New Energy 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 acquiring an additional 46,888 shares during the period. Dymon Asia Capital Ltd. acquired a new stake in Daqo New Energy during the second quarter worth about $2,886,000. Granite Point Capital Management L.P. acquired a new stake in Daqo New Energy during the third quarter worth about $290,000. Finally, Ecofin Ltd. grew its holdings in Daqo New Energy by 22.3% during the second quarter. Ecofin Ltd. now owns 103,205 shares of the semiconductor company’s stock worth $2,143,000 after acquiring an additional 18,846 shares during the period. 27.38% of the stock is currently owned by institutional investors and hedge funds.

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About Daqo New Energy

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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