DAQO New Energy Corp. (NYSE:DQ) Given Average Rating of “Moderate Buy” by Brokerages

DAQO New Energy Corp. (NYSE:DQ) has been given a consensus recommendation of “Moderate Buy” by the seven analysts that are presently covering the stock, MarketBeat.com reports. One research analyst has rated the stock with a sell recommendation, two have issued a hold recommendation, three have assigned a buy recommendation and one has assigned a strong buy recommendation to the company. The average 12 month target price among analysts that have issued ratings on the stock in the last year is $27.0350.

Several equities research analysts have weighed in on the company. Roth Capital set a $30.00 price target on DAQO New Energy and gave the stock a “neutral” rating in a report on Tuesday, October 28th. Hsbc Global Res upgraded shares of DAQO New Energy from a “hold” rating to a “strong-buy” rating in a research note on Wednesday, August 27th. HSBC raised shares of DAQO New Energy from a “hold” rating to a “buy” rating and set a $31.00 target price on the stock in a report on Wednesday, August 27th. Glj Research reiterated a “buy” rating and set a $30.51 price target on shares of DAQO New Energy in a report on Tuesday, August 26th. Finally, Wall Street Zen raised shares of DAQO New Energy from a “sell” rating to a “hold” rating in a research report on Monday, November 3rd.

DAQO New Energy Stock Up 0.9%

DAQO New Energy stock opened at $32.89 on Wednesday. DAQO New Energy has a 52-week low of $12.40 and a 52-week high of $36.59. The firm has a market cap of $2.21 billion, a PE ratio of -6.40 and a beta of 0.66. The company’s 50 day moving average is $29.74 and its two-hundred day moving average is $23.41.

DAQO New Energy (NYSE:DQ) last posted its quarterly earnings data on Monday, October 27th. The semiconductor company reported ($0.22) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.61) by $0.39. The business had revenue of $244.60 million for the quarter, compared to analyst estimates of $176.78 million. DAQO New Energy had a negative return on equity of 5.89% and a negative net margin of 53.74%. On average, equities research analysts anticipate that DAQO New Energy will post -3.5 earnings per share for the current fiscal year.

DAQO New Energy declared that its board has approved a stock repurchase plan on Tuesday, August 26th that allows the company to repurchase $0.00 in outstanding shares. This repurchase authorization allows the semiconductor company to buy shares of its stock through open market purchases. Shares repurchase plans are typically a sign that the company’s board of directors believes its stock is undervalued.

Institutional Trading of DAQO New Energy

A number of institutional investors have recently bought and sold shares of the business. Vanguard Group Inc. lifted its position in DAQO New Energy by 1.5% during the 1st quarter. Vanguard Group Inc. now owns 1,745,544 shares of the semiconductor company’s stock worth $31,612,000 after acquiring an additional 26,359 shares during the period. Charles Schwab Investment Management Inc. raised its stake in shares of DAQO New Energy by 227.3% during the first quarter. Charles Schwab Investment Management Inc. now owns 162,085 shares of the semiconductor company’s stock worth $2,935,000 after purchasing an additional 112,562 shares during the last quarter. Continental General Insurance Co. lifted its holdings in shares of DAQO New Energy by 0.8% during the first quarter. Continental General Insurance Co. now owns 5,966,202 shares of the semiconductor company’s stock worth $108,048,000 after purchasing an additional 50,000 shares during the period. Hsbc Holdings PLC grew its position in DAQO New Energy by 514.3% in the 1st quarter. Hsbc Holdings PLC now owns 501,145 shares of the semiconductor company’s stock valued at $9,026,000 after buying an additional 419,569 shares during the last quarter. Finally, Mitsubishi UFJ Asset Management Co. Ltd. increased its stake in DAQO New Energy by 39.1% in the 2nd quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 31,364 shares of the semiconductor company’s stock valued at $476,000 after buying an additional 8,815 shares during the period. 47.22% of the stock is owned by hedge funds and other institutional investors.

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.