DAQO New Energy Corp. (NYSE:DQ) Receives $19.36 Consensus PT from Analysts

Shares of DAQO New Energy Corp. (NYSE:DQ) have received a consensus rating of “Reduce” from the six analysts that are covering the stock, Marketbeat Ratings reports. Four analysts have rated the stock with a sell rating, one has issued a hold rating and one has issued a 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 $15.8260.

A number of equities research analysts have recently weighed in on the company. The Goldman Sachs Group downgraded DAQO New Energy from a “neutral” rating to a “sell” rating and set a $10.00 target price for the company. in a report on Monday, August 24th. Weiss Ratings downgraded shares of DAQO New Energy from a “sell (d-)” rating to a “sell (e+)” rating in a research note on Friday, August 28th. New Street Research set a $10.00 target price on DAQO New Energy in a research report on Monday, August 24th. JPMorgan Chase & Co. reduced their target price on DAQO New Energy from $35.50 to $22.00 and set an “overweight” rating on the stock in a report on Friday, July 31st. Finally, Zacks Research cut DAQO New Energy from a “hold” rating to a “strong sell” rating in a research report on Friday, August 7th.

Hedge Funds Weigh In On DAQO New Energy

Hedge funds have recently bought and sold shares of the company. Quarry LP bought a new stake in shares of DAQO New Energy during the 3rd quarter worth approximately $26,000. Nykredit A S bought a new position in DAQO New Energy in the second quarter valued at approximately $28,000. Headlands Technologies LLC acquired a new position in DAQO New Energy during the second quarter valued at approximately $29,000. Farther Finance Advisors LLC lifted its stake in DAQO New Energy by 1,650.0% during the fourth quarter. Farther Finance Advisors LLC now owns 1,330 shares of the semiconductor company’s stock worth $39,000 after purchasing an additional 1,254 shares during the last quarter. Finally, Caitong International Asset Management Co. Ltd bought a new stake in DAQO New Energy during the fourth quarter worth $49,000. 47.22% of the stock is owned by institutional investors.

DAQO New Energy Trading Down 3.0%

DAQO New Energy stock opened at $11.69 on Friday. The company has a market capitalization of $791.06 million, a price-to-earnings ratio of -4.12 and a beta of 0.67. DAQO New Energy has a 12 month low of $11.38 and a 12 month high of $36.59. The stock’s 50 day moving average is $12.96 and its 200-day moving average is $17.07.

DAQO New Energy (NYSE:DQ) last released its quarterly earnings results on Thursday, August 20th. The semiconductor company reported ($1.20) earnings per share for the quarter, missing the consensus estimate 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 firm had revenue of $62.66 million for the quarter, compared to analyst estimates of $52.93 million. As a group, equities research analysts predict that DAQO New Energy will post -1.96 earnings per share for the current fiscal year.

DAQO New Energy Company Profile

DAQO New Energy Corp. operates as a leading manufacturer of high-purity polysilicon and monocrystalline silicon wafers for the global solar photovoltaic industry. The company focuses on serving module makers and integrated solar producers with critical upstream materials, applying proprietary technologies and optimized processes to achieve high product purity and consistently low production costs. Its core offerings include solar-grade polysilicon—used in the ingot casting and wafer slicing stages—and premium mono-silicon wafers, which are a key input for high-efficiency solar cell production.

Founded in the late 2000s and listed on the New York Stock Exchange in 2010, DAQO New Energy established its first polysilicon facility in China’s Xinjiang Uygur Autonomous Region.