Daqo New Energy (NYSE:DQ) Coverage Initiated by Analysts at HSBC

HSBC started coverage on shares of Daqo New Energy (NYSE:DQ) in a report released on Thursday morning, Price Targets.com reports. The firm issued a buy rating and a $112.00 target price on the semiconductor company’s stock.

A number of other research analysts have also weighed in on the stock. Roth Capital raised their price target on shares of Daqo New Energy from $70.00 to $79.00 and gave the company a neutral rating in a research report on Tuesday, June 1st. JPMorgan Chase & Co. lowered shares of Daqo New Energy from an overweight rating to a neutral rating in a research report on Monday. Finally, Jefferies Financial Group started coverage on shares of Daqo New Energy in a research report on Thursday, April 22nd. They set a buy rating and a $108.66 price target on the stock. Three investment analysts have rated the stock with a hold rating and three have given a buy rating to the company. The company currently has a consensus rating of Buy and a consensus price target of $90.13.

Shares of NYSE DQ opened at $67.45 on Thursday. The firm has a market capitalization of $4.93 billion, a PE ratio of 28.80 and a beta of 0.75. The firm’s 50-day simple moving average is $74.59. Daqo New Energy has a 1 year low of $10.97 and a 1 year high of $130.33. The company has a debt-to-equity ratio of 0.11, a current ratio of 0.93 and a quick ratio of 0.83.

Daqo New Energy (NYSE:DQ) last issued its quarterly earnings data on Monday, May 17th. The semiconductor company reported $1.08 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.19 by ($0.11). Daqo New Energy had a net margin of 23.49% and a return on equity of 23.90%. On average, research analysts forecast that Daqo New Energy will post 8.57 EPS for the current year.

A number of hedge funds have recently made changes to their positions in DQ. First Trust Advisors LP raised its position in Daqo New Energy by 3.8% in the first quarter. First Trust Advisors LP now owns 9,808 shares of the semiconductor company’s stock worth $324,000 after acquiring an additional 359 shares during the period. Amundi Pioneer Asset Management Inc. purchased a new position in shares of Daqo New Energy in the first quarter worth about $727,000. Zurcher Kantonalbank Zurich Cantonalbank increased its stake in shares of Daqo New Energy by 486.3% in the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 11,216 shares of the semiconductor company’s stock worth $643,000 after purchasing an additional 9,303 shares in the last quarter. Creative Planning increased its stake in shares of Daqo New Energy by 209.3% in the fourth quarter. Creative Planning now owns 7,577 shares of the semiconductor company’s stock worth $435,000 after purchasing an additional 5,127 shares in the last quarter. Finally, Parallel Advisors LLC increased its stake in shares of Daqo New Energy by 299.2% in the fourth quarter. Parallel Advisors LLC now owns 495 shares of the semiconductor company’s stock worth $28,000 after purchasing an additional 371 shares in the last quarter. 54.54% of the stock is currently owned by institutional investors and hedge funds.

About Daqo New Energy

Daqo New Energy Corp., together with its subsidiaries, manufactures and sells polysilicon to photovoltaic product manufactures in the People's Republic of China. The photovoltaic product manufactures further process its polysilicon into ingots, wafers, cells, and modules for solar power solutions.

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Analyst Recommendations for Daqo New Energy (NYSE:DQ)

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