Weekly Analysts’ Ratings Updates for Daqo New Energy (DQ)

A number of firms have modified their ratings and price targets on shares of Daqo New Energy (NYSE: DQ) recently:

• 10/9/2024 – Daqo New Energy was upgraded by analysts at Daiwa America to a “hold” rating.
• 10/9/2024 – Daqo New Energy had its “hold” rating reaffirmed by analysts at Daiwa Capital Markets. They now have a $25.00 price target on the stock, up previously from $18.00.
• 10/2/2024 – Daqo New Energy was upgraded by analysts at Hsbc Global Res from a “hold” rating to a “strong-buy” rating.
• 10/2/2024 – Daqo New Energy was upgraded by analysts at HSBC Holdings plc from a “hold” rating to a “buy” rating.
• 9/23/2024 – Daqo New Energy was upgraded by analysts at StockNews.com to a “sell” rating.
• 9/5/2024 – Daqo New Energy was upgraded by analysts at StockNews.com to a “sell” rating.
• 8/28/2024 – Daqo New Energy was upgraded by analysts at Nomura Securities to a “strong-buy” rating.
• 8/28/2024 – Daqo New Energy had its price target lowered by analysts at Roth Mkm from $23.00 to $15.00. They now have a “neutral” rating on the stock.
• 8/27/2024 – Daqo New Energy was upgraded by analysts at Hsbc Global Res from a “moderate sell” rating to a “hold” rating.
• 8/27/2024 – Daqo New Energy was upgraded by analysts at HSBC Holdings plc from a “reduce” rating to a “hold” rating. They now have a $15.00 price target on the stock.
• 8/26/2024 – Daqo New Energy had its price target lowered by analysts at Jefferies Financial Group Inc. from $38.40 to $34.05. They now have a “buy” rating on the stock.

Daqo New Energy Stock Performance

Shares of DQ opened at $19.78 on Tuesday. The stock has a market capitalization of $1.31 billion, a P/E ratio of 9.29 and a beta of 0.32. The company’s fifty day moving average is $17.14 and its two-hundred day moving average is $18.83. Daqo New Energy Corp. has a 1 year low of $13.62 and a 1 year high of $30.03.

Daqo New Energy (NYSE:DQ) last announced its quarterly earnings data on Monday, August 26th. The semiconductor company reported ($1.81) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.56) by ($1.25). The firm had revenue of $219.91 million during the quarter, compared to analyst estimates of $406.50 million. Daqo New Energy had a negative net margin of 4.11% and a negative return on equity of 1.04%. During the same period in the prior year, the firm posted $1.34 earnings per share. Sell-side analysts predict that Daqo New Energy Corp. will post -3.35 EPS for the current year.

Hedge Funds Weigh In On Daqo New Energy

A number of institutional investors and hedge funds have recently made changes to their positions in DQ. PNC Financial Services Group Inc. grew its stake in shares of Daqo New Energy by 117.5% during the 4th quarter. PNC Financial Services Group Inc. now owns 1,588 shares of the semiconductor company’s stock worth $42,000 after purchasing an additional 858 shares during the period. Quadrature Capital Ltd acquired a new position in shares of Daqo New Energy during the 4th quarter worth $471,000. Ariose Capital Management Ltd grew its stake in shares of Daqo New Energy by 19.1% during the 1st quarter. Ariose Capital Management Ltd now owns 952,924 shares of the semiconductor company’s stock worth $26,825,000 after purchasing an additional 152,800 shares during the period. Mirae Asset Global Investments Co. Ltd. boosted its position in shares of Daqo New Energy by 15.4% in the 1st quarter. Mirae Asset Global Investments Co. Ltd. now owns 125,425 shares of the semiconductor company’s stock worth $3,531,000 after buying an additional 16,710 shares in the last quarter. Finally, BNP Paribas Financial Markets boosted its position in shares of Daqo New Energy by 142.1% in the 1st quarter. BNP Paribas Financial Markets now owns 696,865 shares of the semiconductor company’s stock worth $19,617,000 after buying an additional 409,057 shares in the last quarter. 47.22% of the stock is owned by institutional investors and hedge funds.

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.