DAQO New Energy Corp. (NYSE:DQ) Stock Has Average Target Price of $15.83 According to Brokerages

DAQO New Energy Corp. (NYSE:DQ) has been assigned a consensus rating of “Reduce” from the six analysts that are presently covering the company, MarketBeat reports. Three investment analysts have rated the stock with a sell recommendation, two have assigned a hold recommendation and one has assigned a buy recommendation to the company. The average 1-year price objective among brokerages that have updated their coverage on the stock in the last year is $15.83.

DQ has been the subject of a number of recent research reports. New Street Research set a $10.00 price objective on DAQO New Energy in a research note on Monday, August 24th. JPMorgan Chase & Co. decreased their target price on shares of DAQO New Energy from $35.50 to $22.00 and set an “overweight” rating on the stock in a research note on Friday, July 31st. Zacks Research raised shares of DAQO New Energy from a “strong sell” rating to a “hold” rating in a report on Tuesday. Weiss Ratings raised shares of DAQO New Energy from a “sell (e+)” rating to a “sell (d-)” rating in a report on Monday, September 14th. Finally, The Goldman Sachs Group lowered shares of DAQO New Energy from a “neutral” rating to a “sell” rating and set a $10.00 price target for the company. in a research report on Monday, August 24th.

Institutional Inflows and Outflows

Large investors have recently modified their holdings of the company. Caitong International Asset Management Co. Ltd purchased a new stake in DAQO New Energy in the 4th quarter worth $49,000. Nykredit A S purchased a new position in shares of DAQO New Energy in the second quarter valued at about $28,000. Banque Cantonale Vaudoise boosted its stake in shares of DAQO New Energy by 37.5% in the first quarter. Banque Cantonale Vaudoise now owns 2,579 shares of the semiconductor company’s stock worth $55,000 after acquiring an additional 703 shares during the period. Prudential PLC bought a new position in shares of DAQO New Energy in the fourth quarter worth about $202,000. Finally, MidFirst Bank bought a new position in shares of DAQO New Energy in the fourth quarter worth about $236,000. Hedge funds and other institutional investors own 47.22% of the company’s stock.

DAQO New Energy Stock Performance

NYSE DQ opened at $11.12 on Tuesday. The business’s fifty day moving average is $12.81 and its 200 day moving average is $15.81. DAQO New Energy has a fifty-two week low of $10.87 and a fifty-two week high of $36.59. The company has a market capitalization of $752.69 million, a PE ratio of -3.92 and a beta of 0.67.

DAQO New Energy (NYSE:DQ) last issued its quarterly earnings results on Thursday, August 20th. The semiconductor company reported ($1.20) EPS for the quarter, missing analysts’ consensus estimates of ($0.57) by ($0.63). DAQO New Energy had a negative return on equity of 3.26% and a negative net margin of 34.50%.The company had revenue of $62.66 million during the quarter, compared to analysts’ expectations of $52.93 million. On average, sell-side analysts forecast that DAQO New Energy will post -1.96 EPS for the current year.

About DAQO New Energy

DA​​QO New Energy Corp. (NYSE: DQ) is a China-based manufacturer of high-purity polysilicon, a key raw material used to produce the wafers, cells and modules that make up solar photovoltaic panels. The company supplies polysilicon primarily to manufacturers in the global solar power industry.

Through its operating subsidiary, Xinjiang Daqo New Energy Co, Ltd., the company produces polysilicon at manufacturing facilities in China. Its products include polysilicon used in both monocrystalline and multicrystalline solar applications, with product specifications designed for use in advanced photovoltaic manufacturing.

Daqo New Energy was established in 2008 and began commercial polysilicon production in 2009.