Daqo New Energy Corp. (NYSE:DQ) Receives Average Rating of “Buy” from Analysts

Daqo New Energy Corp. (NYSE:DQ) has earned a consensus recommendation of “Buy” from the eight research firms that are presently covering the stock, MarketBeat reports. One equities research analyst has rated the stock with a hold rating, four have assigned a buy rating and three have issued a strong buy rating on the company. The average 12 month price target among analysts that have issued a report on the stock in the last year is $22.26.

A number of brokerages have issued reports on DQ. Daiwa Capital Markets raised shares of Daqo New Energy from a “neutral” rating to an “outperform” rating in a report on Wednesday, October 30th. Hsbc Global Res raised shares of Daqo New Energy from a “hold” rating to a “strong-buy” rating in a research note on Wednesday, October 2nd. Daiwa America raised shares of Daqo New Energy from a “hold” rating to a “strong-buy” rating in a research note on Wednesday, October 30th. Finally, HSBC raised shares of Daqo New Energy from a “hold” rating to a “buy” rating in a research note on Wednesday, October 2nd.

Hedge Funds Weigh In On Daqo New Energy

A number of hedge funds have recently made changes to their positions in DQ. Point72 Asset Management L.P. acquired a new position in shares of Daqo New Energy in the 2nd quarter valued at $11,080,000. Sylebra Capital LLC boosted its holdings in shares of Daqo New Energy by 103.9% in the 2nd quarter. Sylebra Capital LLC now owns 943,692 shares of the semiconductor company’s stock valued at $13,778,000 after purchasing an additional 480,980 shares during 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 acquiring an additional 324,585 shares during the period. Marshall Wace LLP raised its stake in shares of Daqo New Energy by 112.3% in the 2nd quarter. Marshall Wace LLP now owns 322,635 shares of the semiconductor company’s stock valued at $4,710,000 after acquiring an additional 170,660 shares during the period. Finally, Mackenzie Financial Corp raised 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 period. Institutional investors and hedge funds own 47.22% of the company’s stock.

Daqo New Energy Trading Up 0.7 %

Shares of Daqo New Energy stock opened at $17.92 on Thursday. Daqo New Energy has a 12-month low of $13.62 and a 12-month high of $30.85. The stock has a market cap of $1.18 billion, a PE ratio of -9.69 and a beta of 0.26. The company has a 50-day moving average of $19.09 and a two-hundred day moving average of $18.58.

Daqo New Energy (NYSE:DQ) last issued its earnings results on Wednesday, October 30th. The semiconductor company reported ($0.92) earnings per share (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 company had revenue of $198.50 million during the quarter, compared to analysts’ expectations of $186.90 million. During the same period last year, the business posted ($0.09) earnings per share. On average, sell-side analysts forecast that Daqo New Energy will post -3.5 EPS for the current fiscal year.

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.