Shares of Daqo New Energy Corp (NYSE:DQ) have been given an average rating of “Hold” by the six brokerages that are currently covering the company, MarketBeat reports. Two equities research analysts have rated the stock with a sell rating, one has assigned a hold rating and two have assigned a buy rating to the company. The average 1-year target price among brokers that have updated their coverage on the stock in the last year is $53.00.
Several equities research analysts have issued reports on the company. ValuEngine downgraded Daqo New Energy from a “buy” rating to a “hold” rating in a research report on Monday, July 2nd. Zacks Investment Research downgraded Daqo New Energy from a “strong-buy” rating to a “sell” rating in a research report on Monday, June 18th. Credit Suisse Group assumed coverage on Daqo New Energy in a research report on Friday, August 24th. They set an “outperform” rating and a $58.00 target price on the stock. Finally, Roth Capital upgraded Daqo New Energy from a “neutral” rating to a “buy” rating and increased their target price for the stock from $40.00 to $48.00 in a research report on Wednesday, August 8th.
Several large investors have recently bought and sold shares of DQ. Northern Trust Corp purchased a new stake in shares of Daqo New Energy in the second quarter worth $351,000. Ardsley Advisory Partners purchased a new stake in shares of Daqo New Energy in the second quarter worth $1,067,000. Bank of America Corp DE raised its position in shares of Daqo New Energy by 210.4% in the second quarter. Bank of America Corp DE now owns 360,329 shares of the semiconductor company’s stock worth $12,806,000 after buying an additional 244,237 shares in the last quarter. Luminus Management LLC purchased a new stake in shares of Daqo New Energy in the second quarter worth $8,601,000. Finally, BlackRock Inc. purchased a new stake in shares of Daqo New Energy in the second quarter worth $2,493,000. Hedge funds and other institutional investors own 42.55% of the company’s stock.
NYSE:DQ opened at $25.75 on Friday. The firm has a market cap of $274.63 million, a price-to-earnings ratio of 3.03 and a beta of 1.33. Daqo New Energy has a 1 year low of $24.02 and a 1 year high of $72.50. The company has a current ratio of 1.23, a quick ratio of 1.06 and a debt-to-equity ratio of 0.17.
Daqo New Energy (NYSE:DQ) last posted its earnings results on Tuesday, August 7th. The semiconductor company reported $1.36 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.90 by $0.46. The firm had revenue of $66.95 million for the quarter, compared to the consensus estimate of $62.70 million. Daqo New Energy had a return on equity of 23.80% and a net margin of 28.32%. On average, analysts predict that Daqo New Energy will post 2.64 earnings per share for the current fiscal year.
Daqo New Energy Company Profile
Daqo New Energy Corp., together with its subsidiaries, manufactures and sells polysilicon and wafers in the People's Republic of China. It operates through two segments, Polysilicon and Wafers. The company offers polysilicon to photovoltaic product manufacturers who further process its polysilicon into ingots, wafers, cells, and modules for solar power solutions.
Further Reading: Understanding Analyst Recommendations
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