DAQO New Energy Corp. (NYSE:DQ) Given Consensus Rating of “Moderate Buy” by Analysts

DAQO New Energy Corp. (NYSE:DQ) has been assigned a consensus recommendation of “Moderate Buy” from the seven analysts that are presently covering the stock, Marketbeat reports. One research analyst has rated the stock with a sell rating, two have given a hold rating, three have assigned a buy rating and one has issued a strong buy rating on the company. The average 1-year price objective among brokers that have updated their coverage on the stock in the last year is $27.0350.

A number of research analysts recently weighed in on the stock. Weiss Ratings reissued a “sell (d-)” rating on shares of DAQO New Energy in a report on Monday, December 29th. Wall Street Zen raised shares of DAQO New Energy from a “sell” rating to a “hold” rating in a research note on Monday, November 3rd. Roth Mkm set a $30.00 target price on shares of DAQO New Energy and gave the stock a “neutral” rating in a report on Tuesday, October 28th. Finally, The Goldman Sachs Group set a $18.30 price target on shares of DAQO New Energy and gave the company a “neutral” rating in a report on Wednesday, October 29th.

Hedge Funds Weigh In On DAQO New Energy

Institutional investors and hedge funds have recently modified their holdings of the stock. Continental General Insurance Co. increased its position in shares of DAQO New Energy by 11.3% during the 3rd quarter. Continental General Insurance Co. now owns 6,641,986 shares of the semiconductor company’s stock valued at $186,839,000 after purchasing an additional 675,784 shares during the last quarter. Mackenzie Financial Corp boosted its stake in DAQO New Energy by 1.4% during the second quarter. Mackenzie Financial Corp now owns 1,866,454 shares of the semiconductor company’s stock worth $28,314,000 after buying an additional 26,100 shares during the period. Vanguard Group Inc. increased its position in DAQO New Energy by 0.3% during the third quarter. Vanguard Group Inc. now owns 1,738,788 shares of the semiconductor company’s stock valued at $48,912,000 after acquiring an additional 5,448 shares during the last quarter. Polunin Capital Partners Ltd increased its position in DAQO New Energy by 13.6% during the fourth quarter. Polunin Capital Partners Ltd now owns 1,458,705 shares of the semiconductor company’s stock valued at $43,032,000 after acquiring an additional 174,747 shares during the last quarter. Finally, Goldman Sachs Group Inc. raised its stake in shares of DAQO New Energy by 117.2% in the first quarter. Goldman Sachs Group Inc. now owns 1,159,835 shares of the semiconductor company’s stock valued at $21,005,000 after acquiring an additional 625,900 shares during the period. Hedge funds and other institutional investors own 47.22% of the company’s stock.

DAQO New Energy Trading Down 2.5%

Shares of DAQO New Energy stock opened at $26.55 on Thursday. The firm has a market cap of $1.78 billion, a PE ratio of -5.16 and a beta of 0.60. The stock has a 50 day moving average of $29.70 and a 200 day moving average of $27.47. DAQO New Energy has a 12 month low of $12.40 and a 12 month high of $36.59.

DAQO New Energy (NYSE:DQ) last released its quarterly earnings data on Monday, October 27th. The semiconductor company reported ($0.22) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.61) by $0.39. The business had revenue of $244.60 million for the quarter, compared to the consensus estimate of $176.78 million. DAQO New Energy had a negative return on equity of 5.89% and a negative net margin of 53.74%. As a group, equities research analysts forecast that DAQO New Energy will post -3.5 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.