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

Shares of DAQO New Energy Corp. (NYSE:DQ) have been given an average recommendation of “Moderate Buy” by the seven analysts that are currently covering the firm, MarketBeat reports. One investment analyst has rated the stock with a sell recommendation, two have given a hold recommendation, three have assigned a buy recommendation and one has given a strong buy recommendation to the company. The average 1 year price objective among brokerages that have updated their coverage on the stock in the last year is $27.0350.

A number of brokerages recently weighed in on DQ. The Goldman Sachs Group set a $18.30 price target on shares of DAQO New Energy and gave the company a “neutral” rating in a research note on Wednesday, October 29th. Roth Capital set a $30.00 target price on DAQO New Energy and gave the company a “neutral” rating in a report on Tuesday, October 28th. Weiss Ratings restated a “sell (d-)” rating on shares of DAQO New Energy in a research report on Monday, December 22nd. Citigroup lifted their price target on DAQO New Energy from $27.00 to $37.00 and gave the stock a “buy” rating in a research note on Monday, September 8th. Finally, New Street Research set a $15.40 price objective on DAQO New Energy in a research note on Thursday, September 18th.

Hedge Funds Weigh In On DAQO New Energy

Several hedge funds and other institutional investors have recently modified their holdings of the business. Polunin Capital Partners Ltd acquired a new position in DAQO New Energy during the third quarter worth about $37,183,000. Continental General Insurance Co. lifted its stake in DAQO New Energy by 11.3% in the 3rd quarter. Continental General Insurance Co. now owns 6,641,986 shares of the semiconductor company’s stock worth $186,839,000 after purchasing an additional 675,784 shares in the last quarter. Arrowstreet Capital Limited Partnership acquired a new position in shares of DAQO New Energy during the 3rd quarter worth approximately $18,280,000. Goldman Sachs Group Inc. boosted its holdings in shares of DAQO New Energy by 117.2% during the 1st quarter. Goldman Sachs Group Inc. now owns 1,159,835 shares of the semiconductor company’s stock worth $21,005,000 after purchasing an additional 625,900 shares during the last quarter. Finally, Allianz Asset Management GmbH purchased a new stake in shares of DAQO New Energy in the third quarter valued at approximately $11,673,000. 47.22% of the stock is owned by hedge funds and other institutional investors.

DAQO New Energy Stock Performance

Shares of NYSE DQ opened at $31.85 on Friday. The firm has a fifty day moving average of $31.39 and a 200 day moving average of $25.67. The firm has a market cap of $2.14 billion, a PE ratio of -6.20 and a beta of 0.66. DAQO New Energy has a one year low of $12.40 and a one year high of $36.59.

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

About DAQO New Energy

DAQO New Energy Corp. operates as a leading manufacturer of high-purity polysilicon and monocrystalline silicon wafers for the global solar photovoltaic industry. The company focuses on serving module makers and integrated solar producers with critical upstream materials, applying proprietary technologies and optimized processes to achieve high product purity and consistently low production costs. Its core offerings include solar-grade polysilicon—used in the ingot casting and wafer slicing stages—and premium mono-silicon wafers, which are a key input for high-efficiency solar cell production.

Founded in the late 2000s and listed on the New York Stock Exchange in 2010, DAQO New Energy established its first polysilicon facility in China’s Xinjiang Uygur Autonomous Region.