DAQO New Energy Corp. (NYSE:DQ) Receives $23.59 Consensus Target Price from Analysts

DAQO New Energy Corp. (NYSE:DQ) has been assigned a consensus recommendation of “Hold” from the seven ratings firms that are covering the stock, Marketbeat.com reports. Two equities research analysts have rated the stock with a sell recommendation, three have issued a hold recommendation, one has given a buy recommendation and one has issued a strong buy recommendation on the company. The average 1 year target price among brokers that have issued a report on the stock in the last year is $23.5933.

DQ has been the subject of a number of analyst reports. Roth Capital set a $19.00 price objective on shares of DAQO New Energy in a research note on Thursday, April 30th. Weiss Ratings raised shares of DAQO New Energy from a “sell (e+)” rating to a “sell (d-)” rating in a research report on Monday, July 6th. Zacks Research upgraded shares of DAQO New Energy from a “strong sell” rating to a “hold” rating in a report on Monday, June 29th. Finally, Wall Street Zen downgraded shares of DAQO New Energy from a “hold” rating to a “strong sell” rating in a research report on Saturday, May 2nd.

Institutional Trading of DAQO New Energy

A number of hedge funds have recently modified their holdings of DQ. Banque Cantonale Vaudoise lifted its stake in shares of DAQO New Energy by 37.5% in the first quarter. Banque Cantonale Vaudoise now owns 2,579 shares of the semiconductor company’s stock valued at $55,000 after buying an additional 703 shares during the period. Vontobel Holding Ltd. increased its stake in DAQO New Energy by 1.5% during the fourth quarter. Vontobel Holding Ltd. now owns 57,176 shares of the semiconductor company’s stock valued at $1,687,000 after acquiring an additional 836 shares during the period. Quarry LP bought a new position in DAQO New Energy during the third quarter valued at about $26,000. Farther Finance Advisors LLC raised its holdings in DAQO New Energy by 1,650.0% in the 4th quarter. Farther Finance Advisors LLC now owns 1,330 shares of the semiconductor company’s stock valued at $39,000 after acquiring an additional 1,254 shares in the last quarter. Finally, Caitong International Asset Management Co. Ltd acquired a new position in DAQO New Energy in the 4th quarter valued at approximately $49,000. Hedge funds and other institutional investors own 47.22% of the company’s stock.

DAQO New Energy Stock Up 1.5%

Shares of DAQO New Energy stock opened at $12.33 on Thursday. DAQO New Energy has a 12-month low of $11.55 and a 12-month high of $36.59. The firm has a market capitalization of $834.17 million, a PE ratio of -4.43 and a beta of 0.65. The stock’s fifty day moving average is $14.87 and its 200-day moving average is $20.44.

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