DAQO New Energy Corp. (NYSE:DQ) Receives Average Recommendation of “Hold” from Brokerages

DAQO New Energy Corp. (NYSE:DQ) has been assigned an average rating of “Hold” from the seven research firms that are currently covering the stock, MarketBeat Ratings reports. Three investment analysts have rated the stock with a sell recommendation, two have given a hold recommendation, one has issued a buy recommendation and one has assigned a strong buy recommendation to the company. The average 12 month target price among brokers that have covered the stock in the last year is $23.5933.

Several brokerages have recently weighed in on DQ. Roth Mkm set a $19.00 target price on DAQO New Energy in a research report on Thursday, April 30th. Wall Street Zen downgraded DAQO New Energy from a “hold” rating to a “strong sell” rating in a research report on Saturday, May 2nd. Zacks Research downgraded DAQO New Energy from a “hold” rating to a “strong sell” rating in a research report on Monday, May 4th. Glj Research downgraded DAQO New Energy from a “buy” rating to a “sell” rating and decreased their target price for the stock from $30.51 to $18.13 in a research report on Tuesday, February 3rd. Finally, Weiss Ratings downgraded DAQO New Energy from a “sell (d-)” rating to a “sell (e+)” rating in a research report on Tuesday, May 12th.

Institutional Investors Weigh In On DAQO New Energy

Several institutional investors and hedge funds have recently modified their holdings of the stock. Continental General Insurance Co. boosted its position in shares of DAQO New Energy by 11.3% in the third quarter. Continental General Insurance Co. now owns 6,641,986 shares of the semiconductor company’s stock worth $186,839,000 after buying an additional 675,784 shares during the period. Vanguard Group Inc. boosted its position in shares of DAQO New Energy by 0.9% in the fourth quarter. Vanguard Group Inc. now owns 1,753,947 shares of the semiconductor company’s stock worth $51,741,000 after buying an additional 15,159 shares during the period. Polunin Capital Partners Ltd lifted its stake in shares of DAQO New Energy by 13.6% in the fourth quarter. Polunin Capital Partners Ltd now owns 1,458,705 shares of the semiconductor company’s stock worth $43,032,000 after acquiring an additional 174,747 shares in the last quarter. Invesco Ltd. lifted its stake in shares of DAQO New Energy by 22.6% in the fourth quarter. Invesco Ltd. now owns 1,429,565 shares of the semiconductor company’s stock worth $42,172,000 after acquiring an additional 263,614 shares in the last quarter. Finally, Mackenzie Financial Corp lifted its stake in shares of DAQO New Energy by 9.1% in the fourth quarter. Mackenzie Financial Corp now owns 1,316,140 shares of the semiconductor company’s stock worth $38,934,000 after acquiring an additional 110,186 shares in the last quarter. Hedge funds and other institutional investors own 47.22% of the company’s stock.

DAQO New Energy Trading Up 0.4%

DQ stock opened at $17.86 on Wednesday. The stock has a 50-day moving average price of $20.46 and a two-hundred day moving average price of $25.41. DAQO New Energy has a 12-month low of $12.83 and a 12-month high of $36.59. The company has a market cap of $1.21 billion, a PE ratio of -6.42 and a beta of 0.66.

DAQO New Energy (NYSE:DQ) last posted its quarterly earnings results on Wednesday, April 29th. The semiconductor company reported ($1.31) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.13) by ($1.18). DAQO New Energy had a negative net margin of 32.92% and a negative return on equity of 3.19%. The firm had revenue of $26.72 million for the quarter, compared to analysts’ expectations of $186.28 million. Equities analysts forecast that DAQO New Energy will post -1.31 EPS for the current fiscal year.

DAQO New Energy Company Profile

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.