DAQO New Energy Corp. (DQ) – What Are Investment Firms Thinking About This Stock?

Shares of DAQO New Energy Corp. (NYSE:DQ) have earned an average rating of “Reduce” from the six analysts that are presently covering the company, MarketBeat reports. Three equities research analysts have rated the stock with a sell recommendation, two have given a hold recommendation and one has issued a buy recommendation on the company. The average 1-year target price among brokers that have issued ratings on the stock in the last year is $15.83.

DQ has been the topic of several research analyst 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 DAQO New Energy from $35.50 to $22.00 and set an “overweight” rating on the stock in a research report on Friday, July 31st. 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 research note on Monday, August 24th. Zacks Research raised shares of DAQO New Energy from a “strong sell” rating to a “hold” rating in a report on Tuesday, September 29th. Finally, Weiss Ratings downgraded shares of DAQO New Energy from a “sell (d-)” rating to a “sell (e+)” rating in a research note on Monday.

Hedge Funds Weigh In On DAQO New Energy

Institutional investors have recently added to or reduced their stakes in the stock. Nykredit A S bought a new position in DAQO New Energy in the 2nd quarter valued at approximately $28,000. Cygnus Capital Advisors LLC bought a new stake in shares of DAQO New Energy during the second quarter worth $724,000. BTG Pactual Asset Management US LLC bought a new stake in shares of DAQO New Energy during the second quarter worth $224,000. Public Employees Retirement System of Ohio bought a new stake in shares of DAQO New Energy during the second quarter worth $273,000. Finally, Renaissance Technologies LLC acquired a new position in shares of DAQO New Energy during the first quarter worth $3,285,000. 47.22% of the stock is currently owned by institutional investors and hedge funds.

DAQO New Energy Stock Performance

Shares of DQ stock opened at $10.22 on Friday. DAQO New Energy has a fifty-two week low of $9.89 and a fifty-two week high of $36.59. The stock’s fifty day moving average price is $11.94 and its two-hundred day moving average price is $14.63. The company has a market cap of $691.59 million, a PE ratio of -3.60 and a beta of 0.67.

DAQO New Energy (NYSE:DQ) last posted 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 business had revenue of $62.66 million for the quarter, compared to analyst estimates of $52.93 million. On average, equities analysts predict that DAQO New Energy will post -1.96 EPS for the current fiscal year.

About DAQO New Energy

Daqo New Energy Corp. (NYSE: DQ) is a China-based manufacturer of high-purity polysilicon, a key raw material used to produce solar photovoltaic wafers, cells and modules. Through its operating subsidiaries, the company produces polysilicon in grades used primarily for monocrystalline and multicrystalline solar applications.

The company’s production operations are located in China, including facilities in Xinjiang. Its products are supplied to manufacturers in the solar photovoltaic industry, primarily within China’s extensive solar manufacturing supply chain, with the company serving customers in other markets through industry sales and distribution relationships.

Daqo New Energy was founded in 2007 and completed its initial public offering on the New York Stock Exchange in 2010.