Daqo New Energy Corp. (NYSE:DQ) Given Consensus Recommendation of “Buy” by Analysts

Daqo New Energy Corp. (NYSE:DQ) has been assigned a consensus rating of “Buy” from the eight analysts that are covering the stock, Marketbeat Ratings reports. One research analyst has rated the stock with a hold rating, four have assigned a buy rating and three have given a strong buy rating to the company. The average 12 month price objective among brokerages that have covered the stock in the last year is $22.26.

DQ has been the subject of several recent research reports. 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. Daiwa America raised shares of Daqo New Energy from a “hold” rating to a “strong-buy” rating in a report on Wednesday, October 30th. Hsbc Global Res raised Daqo New Energy from a “hold” rating to a “strong-buy” rating in a report on Wednesday, October 2nd. StockNews.com upgraded Daqo New Energy to a “sell” rating in a research note on Monday, September 23rd. Finally, HSBC upgraded Daqo New Energy from a “hold” rating to a “buy” rating in a research note on Wednesday, October 2nd.

Daqo New Energy Trading Down 0.5 %

Daqo New Energy stock opened at $19.27 on Friday. The business’s 50 day simple moving average is $20.33 and its 200 day simple moving average is $18.18. Daqo New Energy has a 12 month low of $13.62 and a 12 month high of $30.85. The company has a market cap of $1.27 billion, a price-to-earnings ratio of -10.42 and a beta of 0.28.

Daqo New Energy (NYSE:DQ) last issued 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 net margin of 9.16% and a negative return on equity of 1.90%. The firm had revenue of $198.50 million for the quarter, compared to analysts’ expectations of $186.90 million. During the same period in the prior year, the company earned ($0.09) EPS. As a group, equities research analysts forecast that Daqo New Energy will post -3.5 earnings per share for the current fiscal year.

Institutional Trading of Daqo New Energy

Large investors have recently modified their holdings of the business. Point72 Asset Management L.P. bought a new position in shares of Daqo New Energy during the 2nd quarter valued at $11,080,000. Sylebra Capital LLC grew its stake in shares of Daqo New Energy by 103.9% during the second quarter. Sylebra Capital LLC now owns 943,692 shares of the semiconductor company’s stock valued at $13,778,000 after buying an additional 480,980 shares during the last quarter. Marshall Wace LLP increased its holdings in shares of Daqo New Energy by 112.3% in the second quarter. Marshall Wace LLP now owns 322,635 shares of the semiconductor company’s stock worth $4,710,000 after buying an additional 170,660 shares during the period. Mackenzie Financial Corp lifted its stake in shares of Daqo New Energy by 6.4% in the 2nd quarter. Mackenzie Financial Corp now owns 2,496,997 shares of the semiconductor company’s stock valued at $36,456,000 after acquiring an additional 149,610 shares during the last quarter. Finally, Wexford Capital LP boosted its holdings in Daqo New Energy by 395.7% during the 3rd quarter. Wexford Capital LP now owns 164,809 shares of the semiconductor company’s stock valued at $3,357,000 after acquiring an additional 131,564 shares during the period. Institutional investors own 47.22% of the company’s stock.

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.