Daqo New Energy Corp. (NYSE:DQ) has earned a consensus rating of “Hold” from the eight research firms that are covering the stock, Marketbeat.com reports. Five research analysts have rated the stock with a hold recommendation and three have issued a buy recommendation on the company. The average 12 month target price among analysts that have updated their coverage on the stock in the last year is $76.94.
A number of equities analysts recently issued reports on DQ shares. Zacks Investment Research downgraded Daqo New Energy from a “buy” rating to a “hold” rating in a report on Friday, August 13th. Roth Capital upped their price target on Daqo New Energy from $52.00 to $73.00 and gave the company a “neutral” rating in a report on Thursday, August 19th. JPMorgan Chase & Co. downgraded Daqo New Energy from an “overweight” rating to a “neutral” rating in a report on Monday, June 7th. Nomura raised Daqo New Energy from a “reduce” rating to a “neutral” rating and upped their price target for the company from $48.00 to $53.00 in a report on Thursday, August 19th. Finally, HSBC started coverage on Daqo New Energy in a report on Thursday, June 10th. They issued a “buy” rating and a $112.00 price objective for the company.
Large investors have recently added to or reduced their stakes in the business. Great West Life Assurance Co. Can purchased a new position in Daqo New Energy in the first quarter worth $2,718,000. Alliancebernstein L.P. increased its position in shares of Daqo New Energy by 37.6% in the first quarter. Alliancebernstein L.P. now owns 142,975 shares of the semiconductor company’s stock valued at $10,795,000 after buying an additional 39,105 shares in the last quarter. FORA Capital LLC purchased a new position in shares of Daqo New Energy in the first quarter valued at $368,000. Teacher Retirement System of Texas purchased a new position in shares of Daqo New Energy in the first quarter valued at $304,000. Finally, Mitsubishi UFJ Kokusai Asset Management Co. Ltd. purchased a new position in shares of Daqo New Energy in the first quarter valued at $877,000. Hedge funds and other institutional investors own 49.89% of the company’s stock.
Daqo New Energy (NYSE:DQ) last released its earnings results on Tuesday, August 17th. The semiconductor company reported $3.03 earnings per share for the quarter, missing the Zacks’ consensus estimate of $3.29 by ($0.26). Daqo New Energy had a return on equity of 46.57% and a net margin of 38.19%. The firm had revenue of $441.37 million for the quarter, compared to analysts’ expectations of $462.00 million. During the same quarter in the previous year, the company posted $0.03 earnings per share. As a group, equities analysts anticipate that Daqo New Energy will post 9.95 earnings per share for the current year.
About Daqo New Energy
Daqo New Energy Corp. is a holding company, which engages in the provision of polysilicon products. It involves in the manufacture and sale of polysilicon to photovoltaic product manufactures, who further process the polysilicon into ingots, wafers, cells, and modules for solar power solutions. The company was founded by Guang Fu Xu on November 22, 2007 and is headquartered in Shanghai, China.
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