Daqo New Energy Corp. (NYSE:DQ) Receives Consensus Recommendation of “Hold” from Analysts

Shares of Daqo New Energy Corp. (NYSE:DQ) have received a consensus recommendation of “Hold” from the four ratings firms that are currently covering the stock, MarketBeat.com reports. One analyst has rated the stock with a sell rating, two have issued a hold rating and one has given a buy rating to the company. The average 1-year price target among brokers that have updated their coverage on the stock in the last year is $32.93.

Several research firms have recently issued reports on DQ. Daiwa Capital Markets reaffirmed an “underperform” rating and set a $25.00 price target on shares of Daqo New Energy in a research note on Friday, March 15th. Roth Mkm restated a “neutral” rating and set a $23.00 target price on shares of Daqo New Energy in a report on Tuesday.

Institutional Investors Weigh In On Daqo New Energy

A number of hedge funds and other institutional investors have recently modified their holdings of DQ. Mackenzie Financial Corp increased its stake in Daqo New Energy by 23.8% in the fourth quarter. Mackenzie Financial Corp now owns 1,794,353 shares of the semiconductor company’s stock valued at $47,730,000 after purchasing an additional 344,616 shares during the last quarter. Invesco Ltd. increased its stake in shares of Daqo New Energy by 6.9% during the 3rd quarter. Invesco Ltd. now owns 1,658,153 shares of the semiconductor company’s stock valued at $50,192,000 after acquiring an additional 107,235 shares during the last quarter. Andra AP fonden increased its stake in shares of Daqo New Energy by 48.1% during the 3rd quarter. Andra AP fonden now owns 133,700 shares of the semiconductor company’s stock valued at $4,047,000 after acquiring an additional 43,400 shares during the last quarter. SG Americas Securities LLC lifted its holdings in shares of Daqo New Energy by 12.2% during the 4th quarter. SG Americas Securities LLC now owns 80,987 shares of the semiconductor company’s stock worth $2,154,000 after acquiring an additional 8,775 shares during the period. Finally, UBS Group AG boosted its position in shares of Daqo New Energy by 75.2% in the third quarter. UBS Group AG now owns 328,745 shares of the semiconductor company’s stock worth $9,951,000 after acquiring an additional 141,079 shares during the last quarter. 47.22% of the stock is currently owned by hedge funds and other institutional investors.

Daqo New Energy Price Performance

Daqo New Energy stock traded down $1.37 during mid-day trading on Tuesday, reaching $20.18. The company had a trading volume of 367,907 shares, compared to its average volume of 1,202,750. The stock’s 50-day simple moving average is $24.55 and its 200-day simple moving average is $23.84. Daqo New Energy has a 1 year low of $17.30 and a 1 year high of $48.31. The company has a market capitalization of $1.33 billion, a P/E ratio of 3.73 and a beta of 0.22.

Daqo New Energy (NYSE:DQ) last released its quarterly earnings data on Monday, April 29th. The semiconductor company reported $0.24 earnings per share for the quarter, missing the consensus estimate of $0.56 by ($0.32). The firm had revenue of $415.31 million during the quarter, compared to analysts’ expectations of $491.90 million. Daqo New Energy had a net margin of 18.24% and a return on equity of 6.42%. During the same period in the previous year, the business earned $3.52 earnings per share. On average, equities analysts forecast that Daqo New Energy will post 4.06 EPS for the current fiscal year.

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.