DAQO New Energy Corp. (NYSE:DQ) Receives $25.43 Average Price Target from Analysts

DAQO New Energy Corp. (NYSE:DQ) has received a consensus rating of “Hold” from the six research firms that are covering the firm, MarketBeat Ratings reports. Two analysts have rated the stock with a sell rating, two have issued a hold rating, one has issued a buy rating and one has assigned a strong buy rating to the company. The average 12-month target price among analysts that have covered the stock in the last year is $25.4267.

DQ has been the topic of a number of research analyst reports. New Street Research set a $18.13 price objective on shares of DAQO New Energy in a report on Tuesday, February 3rd. Glj Research cut shares of DAQO New Energy from a “buy” rating to a “sell” rating and reduced their price target for the company from $30.51 to $18.13 in a research report on Tuesday, February 3rd. Weiss Ratings restated a “sell (d-)” rating on shares of DAQO New Energy in a research note on Monday, December 29th. The Goldman Sachs Group set a $18.30 target price on DAQO New Energy and gave the stock a “neutral” rating in a research report on Wednesday, October 29th. Finally, Roth Mkm set a $30.00 target price on DAQO New Energy and gave the company a “neutral” rating in a report on Tuesday, October 28th.

Hedge Funds Weigh In On DAQO New Energy

Hedge funds have recently modified their holdings of the business. Continental General Insurance Co. raised its position in DAQO New Energy by 11.3% in 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 increased its stake in DAQO New Energy by 1.4% in the second quarter. Mackenzie Financial Corp now owns 1,866,454 shares of the semiconductor company’s stock valued at $28,314,000 after purchasing an additional 26,100 shares during the period. Vanguard Group Inc. increased its stake in DAQO New Energy by 0.9% in the fourth quarter. Vanguard Group Inc. now owns 1,753,947 shares of the semiconductor company’s stock valued at $51,741,000 after purchasing an additional 15,159 shares during the period. Polunin Capital Partners Ltd raised its holdings in shares of DAQO New Energy by 13.6% in 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 buying an additional 174,747 shares during the last quarter. Finally, Invesco Ltd. boosted its stake in shares of DAQO New Energy by 22.6% during the fourth quarter. Invesco Ltd. now owns 1,429,565 shares of the semiconductor company’s stock worth $42,172,000 after buying an additional 263,614 shares during the period. 47.22% of the stock is currently owned by hedge funds and other institutional investors.

DAQO New Energy Stock Performance

NYSE:DQ opened at $24.31 on Monday. DAQO New Energy has a 1 year low of $12.40 and a 1 year high of $36.59. The stock has a market cap of $1.63 billion, a P/E ratio of -4.73 and a beta of 0.70. The stock has a 50-day simple moving average of $27.22 and a 200-day simple moving average of $27.73.

About DAQO New Energy

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.