Daqo New Energy Corp. (NYSE:DQ) Receives Consensus Rating of “Buy” from Analysts

Shares of Daqo New Energy Corp. (NYSE:DQ) have been given an average rating of “Buy” by the eight brokerages that are covering the firm, MarketBeat Ratings reports. One analyst has rated the stock with a hold recommendation, four have given a buy recommendation and three have issued a strong buy recommendation on the company. The average 12-month price target among brokerages that have issued ratings on the stock in the last year is $22.26.

A number of equities research analysts have recently weighed in on the company. Nomura Securities upgraded Daqo New Energy to a “strong-buy” rating in a report on Wednesday, August 28th. StockNews.com raised shares of Daqo New Energy to a “sell” rating in a report on Monday, September 23rd. Jefferies Financial Group cut their price target on Daqo New Energy from $38.40 to $34.05 and set a “buy” rating on the stock in a report on Monday, August 26th. Daiwa America raised Daqo New Energy from a “hold” rating to a “strong-buy” rating in a research report on Wednesday, October 30th. Finally, HSBC upgraded shares of Daqo New Energy from a “hold” rating to a “buy” rating in a research report on Wednesday, October 2nd.

Institutional Investors Weigh In On Daqo New Energy

A number of hedge funds and other institutional investors have recently modified their holdings of DQ. Blue Trust Inc. increased its stake in Daqo New Energy by 12,187.5% during the 2nd quarter. Blue Trust Inc. now owns 1,966 shares of the semiconductor company’s stock valued at $29,000 after buying an additional 1,950 shares during the period. Signaturefd LLC increased its stake in shares of Daqo New Energy by 27.3% during the third quarter. Signaturefd LLC now owns 2,809 shares of the semiconductor company’s stock valued at $57,000 after acquiring an additional 602 shares during the period. AXA S.A. raised its holdings in Daqo New Energy by 202.3% during the second quarter. AXA S.A. now owns 6,387 shares of the semiconductor company’s stock worth $93,000 after purchasing an additional 4,274 shares in the last quarter. Rhumbline Advisers lifted its position in Daqo New Energy by 22.2% in the second quarter. Rhumbline Advisers now owns 8,104 shares of the semiconductor company’s stock worth $118,000 after purchasing an additional 1,470 shares during the period. Finally, Harel Insurance Investments & Financial Services Ltd. boosted its stake in Daqo New Energy by 37.9% during the 2nd quarter. Harel Insurance Investments & Financial Services Ltd. now owns 14,442 shares of the semiconductor company’s stock valued at $211,000 after purchasing an additional 3,970 shares in the last quarter. 47.22% of the stock is currently owned by institutional investors.

Daqo New Energy Price Performance

DQ opened at $21.65 on Wednesday. Daqo New Energy has a 12-month low of $13.62 and a 12-month high of $30.85. The stock has a market capitalization of $1.43 billion, a PE ratio of -11.70 and a beta of 0.28. The firm’s fifty day moving average price is $20.93 and its 200 day moving average price is $18.46.

Daqo New Energy (NYSE:DQ) last issued its earnings results on Wednesday, October 30th. The semiconductor company reported ($0.92) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.80) by ($0.12). The company had revenue of $198.50 million during the quarter, compared to analyst estimates of $186.90 million. Daqo New Energy had a negative net margin of 9.16% and a negative return on equity of 1.90%. During the same quarter last year, the company posted ($0.09) EPS. On average, 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., together with its subsidiaries, manufactures and sells polysilicon to photovoltaic product manufacturers in the People's Republic of China. Its products are used in ingots, wafers, cells, and modules for solar power solutions. The company was formerly known as Mega Stand International Limited and changed its name to Daqo New Energy Corp.