Analysts Set Daqo New Energy Corp. (NYSE:DQ) PT at $22.26

Shares of Daqo New Energy Corp. (NYSE:DQ) have received an average recommendation of “Buy” from the eight analysts that are covering the company, Marketbeat Ratings reports. One equities research analyst has rated the stock with a hold recommendation, four have issued a buy recommendation and three have assigned a strong buy recommendation to the company. The average twelve-month price target among brokers that have issued a report on the stock in the last year is $22.26.

A number of equities analysts have recently issued reports on the company. Jefferies Financial Group dropped their price target on Daqo New Energy from $38.40 to $34.05 and set a “buy” rating on the stock in a research note on Monday, August 26th. Daiwa America raised Daqo New Energy from a “hold” rating to a “strong-buy” rating in a research report on Wednesday, October 30th. HSBC upgraded Daqo New Energy from a “hold” rating to a “buy” rating in a research note on Wednesday, October 2nd. Daiwa Capital Markets upgraded shares of Daqo New Energy from a “neutral” rating to an “outperform” rating in a research note on Wednesday, October 30th. Finally, StockNews.com raised shares of Daqo New Energy to a “sell” rating in a report on Monday, September 23rd.

Institutional Trading of Daqo New Energy

Several institutional investors and hedge funds have recently modified their holdings of the company. Blue Trust Inc. grew its holdings in Daqo New Energy by 12,187.5% during the 2nd quarter. Blue Trust Inc. now owns 1,966 shares of the semiconductor company’s stock valued at $29,000 after buying an additional 1,950 shares in the last quarter. Signaturefd LLC grew its stake in Daqo New Energy by 27.3% during the third quarter. Signaturefd LLC now owns 2,809 shares of the semiconductor company’s stock valued at $57,000 after acquiring an additional 602 shares in the last quarter. AXA S.A. grew its stake in Daqo New Energy by 202.3% during the second quarter. AXA S.A. now owns 6,387 shares of the semiconductor company’s stock valued at $93,000 after acquiring an additional 4,274 shares in the last quarter. Rhumbline Advisers increased its holdings in Daqo New Energy by 22.2% in the 2nd quarter. Rhumbline Advisers now owns 8,104 shares of the semiconductor company’s stock valued at $118,000 after acquiring an additional 1,470 shares during the last quarter. Finally, Harel Insurance Investments & Financial Services Ltd. lifted its stake in Daqo New Energy by 37.9% in the 2nd quarter. Harel Insurance Investments & Financial Services Ltd. now owns 14,442 shares of the semiconductor company’s stock worth $211,000 after purchasing an additional 3,970 shares in the last quarter. 47.22% of the stock is currently owned by institutional investors.

Daqo New Energy Stock Performance

NYSE DQ opened at $21.61 on Friday. The company has a market capitalization of $1.43 billion, a price-to-earnings ratio of -11.68 and a beta of 0.32. The stock has a 50-day moving average of $19.66 and a 200 day moving average of $18.42. Daqo New Energy has a one year low of $13.62 and a one year high of $30.85.

Daqo New Energy (NYSE:DQ) last announced its quarterly earnings results on Wednesday, October 30th. The semiconductor company reported ($0.92) EPS for the quarter, missing analysts’ consensus estimates of ($0.80) by ($0.12). Daqo New Energy had a negative return on equity of 1.90% and a negative net margin of 9.16%. The company had revenue of $198.50 million during the quarter, compared to the consensus estimate of $186.90 million. During the same quarter in the prior year, the firm earned ($0.09) earnings per share. On average, equities analysts predict that Daqo New Energy will post -3.5 earnings per share for the current fiscal year.

Daqo New Energy announced that its board has approved a share repurchase program on Monday, July 22nd that permits the company to buyback $100.00 million in outstanding shares. This buyback authorization permits the semiconductor company to reacquire up to 8.6% of its stock through open market purchases. Stock buyback programs are often an indication that the company’s management believes its shares are undervalued.

Daqo New Energy Company Profile

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.