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

Shares of DAQO New Energy Corp. (NYSE:DQ) have earned an average rating of “Hold” from the six brokerages that are covering the stock, Marketbeat.com reports. Two investment analysts have rated the stock with a sell rating, two have issued a hold rating, one has given a buy rating and one has issued a strong buy rating on the company. The average 12 month price target among brokerages that have issued a report on the stock in the last year is $23.5933.

Several research analysts have issued reports on DQ shares. New Street Research set a $18.13 price objective on shares of DAQO New Energy in a research report on Tuesday, February 3rd. Weiss Ratings reissued a “sell (d-)” rating on shares of DAQO New Energy in a research report on Friday, March 27th. Roth Mkm set a $19.00 price objective on shares of DAQO New Energy in a research report on Thursday. Glj Research downgraded shares of DAQO New Energy from a “buy” rating to a “sell” rating and lowered their price objective for the stock from $30.51 to $18.13 in a research report on Tuesday, February 3rd. Finally, Wall Street Zen downgraded shares of DAQO New Energy from a “hold” rating to a “strong sell” rating in a research report on Saturday.

DAQO New Energy Stock Performance

Shares of DAQO New Energy stock opened at $19.22 on Friday. DAQO New Energy has a 1 year low of $12.52 and a 1 year high of $36.59. The company has a market capitalization of $1.30 billion, a P/E ratio of -6.91 and a beta of 0.66. The company’s fifty day moving average is $22.13 and its two-hundred day moving average is $26.57.

DAQO New Energy (NYSE:DQ) last issued its quarterly earnings data on Wednesday, April 29th. The semiconductor company reported ($1.31) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.13) by ($1.18). DAQO New Energy had a negative return on equity of 3.19% and a negative net margin of 32.92%.The business had revenue of $26.72 million for the quarter, compared to analysts’ expectations of $186.28 million. As a group, equities analysts expect that DAQO New Energy will post -0.38 earnings per share for the current year.

Institutional Trading of DAQO New Energy

Hedge funds and other institutional investors have recently made changes to their positions in the company. Quarry LP purchased a new stake in shares of DAQO New Energy in the third quarter valued at about $26,000. Farther Finance Advisors LLC boosted its holdings in shares of DAQO New Energy by 1,650.0% in the fourth quarter. Farther Finance Advisors LLC now owns 1,330 shares of the semiconductor company’s stock valued at $39,000 after acquiring an additional 1,254 shares in the last quarter. Caitong International Asset Management Co. Ltd purchased a new stake in shares of DAQO New Energy in the fourth quarter valued at about $49,000. Banque Cantonale Vaudoise purchased a new stake in shares of DAQO New Energy in the fourth quarter valued at about $55,000. Finally, Headlands Technologies LLC purchased a new stake in shares of DAQO New Energy in the second quarter valued at about $29,000. Hedge funds and other institutional investors own 47.22% of the company’s stock.

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.