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

Shares of Daqo New Energy Corp. (NYSE:DQ) have earned a consensus recommendation of “Buy” from the eight ratings firms that are covering the company, MarketBeat reports. One investment analyst has rated the stock with a hold rating, four have issued a buy rating and three have given a strong buy rating to the company. The average 1 year target price among brokerages that have issued a report on the stock in the last year is $22.26.

Separately, StockNews.com raised shares of Daqo New Energy to a “sell” rating in a report on Tuesday, March 18th.

Daqo New Energy Stock Performance

Daqo New Energy stock opened at $18.28 on Friday. The firm has a market capitalization of $1.21 billion, a price-to-earnings ratio of -9.88 and a beta of 0.41. The stock’s fifty day moving average is $19.57 and its two-hundred day moving average is $19.67. Daqo New Energy has a fifty-two week low of $13.62 and a fifty-two week high of $30.85.

Daqo New Energy (NYSE:DQ) last released its earnings results on Thursday, February 27th. The semiconductor company reported ($2.71) earnings per share for the quarter, missing the consensus estimate of ($0.69) by ($2.02). Daqo New Energy had a negative return on equity of 1.90% and a negative net margin of 9.16%. The business had revenue of $195.36 million for the quarter, compared to analysts’ expectations of $153.54 million. As a group, sell-side analysts forecast that Daqo New Energy will post -3.5 EPS for the current fiscal year.

Hedge Funds Weigh In On Daqo New Energy

Several institutional investors and hedge funds have recently made changes to their positions in DQ. Continental General Insurance Co. raised its holdings in Daqo New Energy by 5.8% in the fourth quarter. Continental General Insurance Co. now owns 5,916,202 shares of the semiconductor company’s stock valued at $115,011,000 after acquiring an additional 322,084 shares in the last quarter. Greenwoods Asset Management Hong Kong Ltd. raised its stake in shares of Daqo New Energy by 5,286.6% in the 4th quarter. Greenwoods Asset Management Hong Kong Ltd. now owns 2,714,780 shares of the semiconductor company’s stock valued at $52,775,000 after purchasing an additional 2,664,381 shares in the last quarter. Ariose Capital Management Ltd raised its stake in shares of Daqo New Energy by 27.5% in the 4th quarter. Ariose Capital Management Ltd now owns 1,505,709 shares of the semiconductor company’s stock valued at $29,271,000 after purchasing an additional 324,585 shares in the last quarter. Point72 Asset Management L.P. lifted its position in shares of Daqo New Energy by 67.5% during the fourth quarter. Point72 Asset Management L.P. now owns 886,655 shares of the semiconductor company’s stock worth $17,237,000 after purchasing an additional 357,460 shares during the last quarter. Finally, State Street Corp grew its stake in Daqo New Energy by 1.1% in the third quarter. State Street Corp now owns 842,921 shares of the semiconductor company’s stock worth $17,170,000 after purchasing an additional 8,983 shares in the last quarter. 47.22% of the stock is currently owned by hedge funds and other institutional investors.

About Daqo New Energy

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.