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

DAQO New Energy Corp. (NYSE:DQ) has been assigned a consensus recommendation of “Hold” from the seven analysts that are covering the stock, MarketBeat reports. Three analysts have rated the stock with a sell rating, two have given a hold rating, one has issued a buy rating and one has given a strong buy rating to the company. The average 1 year target price among analysts that have updated their coverage on the stock in the last year is $23.5933.

Several equities analysts have weighed in on DQ shares. Zacks Research downgraded shares of DAQO New Energy from a “hold” rating to a “strong sell” rating in a report on Monday, May 4th. Wall Street Zen downgraded shares of DAQO New Energy from a “hold” rating to a “strong sell” rating in a report on Saturday, May 2nd. Weiss Ratings downgraded shares of DAQO New Energy from a “sell (d-)” rating to a “sell (e+)” rating in a report on Wednesday. Finally, Roth Mkm set a $19.00 target price on shares of DAQO New Energy in a report on Thursday, April 30th.

Institutional Investors Weigh In On DAQO New Energy

Hedge funds and other institutional investors have recently modified their holdings of the company. Quarry LP acquired a new stake in shares of DAQO New Energy in the third quarter worth approximately $26,000. Farther Finance Advisors LLC boosted its position in shares of DAQO New Energy by 1,650.0% in the fourth quarter. Farther Finance Advisors LLC now owns 1,330 shares of the semiconductor company’s stock worth $39,000 after acquiring an additional 1,254 shares during the last quarter. Caitong International Asset Management Co. Ltd acquired a new stake in shares of DAQO New Energy in the fourth quarter worth approximately $49,000. Banque Cantonale Vaudoise acquired a new stake in shares of DAQO New Energy in the fourth quarter worth approximately $55,000. Finally, Headlands Technologies LLC acquired a new stake in shares of DAQO New Energy in the second quarter worth approximately $29,000. 47.22% of the stock is currently owned by hedge funds and other institutional investors.

DAQO New Energy Stock Performance

DQ stock opened at $14.17 on Friday. DAQO New Energy has a one year low of $13.66 and a one year high of $36.59. The stock has a market capitalization of $958.49 million, a PE ratio of -5.10 and a beta of 0.61. The company has a fifty day moving average of $18.38 and a 200-day moving average of $23.40.

DAQO New Energy (NYSE:DQ) last announced its quarterly earnings data on Wednesday, April 29th. The semiconductor company reported ($1.31) EPS for the quarter, missing the consensus estimate 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 company had revenue of $26.72 million during the quarter, compared to analyst estimates of $186.28 million. Equities analysts forecast that DAQO New Energy will post -1.31 earnings per share 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.