Brokerages Set Daqo New Energy Corp. (NYSE:DQ) Price Target at $22.26

Daqo New Energy Corp. (NYSE:DQ) has received a consensus rating of “Buy” from the eight analysts that are presently covering the company, Marketbeat.com reports. One research analyst has rated the stock with a hold rating, four have assigned a buy rating and three have assigned a strong buy rating to the company. The average twelve-month price target among analysts that have covered the stock in the last year is $22.26.

Several research firms have recently commented on DQ. Hsbc Global Res raised Daqo New Energy from a “hold” rating to a “strong-buy” rating in a research note on Wednesday, October 2nd. StockNews.com raised shares of Daqo New Energy to a “sell” rating in a report on Monday, September 23rd. HSBC raised shares of Daqo New Energy from a “hold” rating to a “buy” rating in a research note on Wednesday, October 2nd. Daiwa America raised shares of Daqo New Energy from a “hold” rating to a “strong-buy” rating in a report on Wednesday, October 30th. Finally, Daiwa Capital Markets raised Daqo New Energy from a “neutral” rating to an “outperform” rating in a report on Wednesday, October 30th.

Institutional Investors Weigh In On Daqo New Energy

Several large investors have recently made changes to their positions in the company. Geode Capital Management LLC grew its holdings in Daqo New Energy by 9.2% during the 3rd quarter. Geode Capital Management LLC now owns 33,546 shares of the semiconductor company’s stock valued at $683,000 after buying an additional 2,813 shares in the last quarter. Public Employees Retirement System of Ohio purchased a new position in shares of Daqo New Energy in the third quarter valued at $1,053,000. Wellington Management Group LLP increased its position in Daqo New Energy by 26.0% in the third quarter. Wellington Management Group LLP now owns 128,422 shares of the semiconductor company’s stock worth $2,616,000 after purchasing an additional 26,462 shares during the last quarter. Wexford Capital LP raised its stake in Daqo New Energy by 395.7% during the third quarter. Wexford Capital LP now owns 164,809 shares of the semiconductor company’s stock valued at $3,357,000 after purchasing an additional 131,564 shares in the last quarter. Finally, State Street Corp lifted its position in Daqo New Energy by 1.1% during the third quarter. State Street Corp now owns 842,921 shares of the semiconductor company’s stock valued at $17,170,000 after purchasing an additional 8,983 shares during the last quarter. 47.22% of the stock is owned by institutional investors.

Daqo New Energy Trading Up 3.0 %

DQ opened at $20.85 on Friday. The company’s 50 day moving average is $20.11 and its 200 day moving average is $18.20. The company has a market cap of $1.38 billion, a price-to-earnings ratio of -11.27 and a beta of 0.28. Daqo New Energy has a 12-month low of $13.62 and a 12-month high of $30.85.

Daqo New Energy (NYSE:DQ) last issued its quarterly earnings data 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). Daqo New Energy had a negative net margin of 9.16% and a negative return on equity of 1.90%. The business had revenue of $198.50 million for the quarter, compared to the consensus estimate of $186.90 million. During the same period in the previous year, the firm earned ($0.09) EPS. As a group, analysts predict that Daqo New Energy will post -3.5 EPS 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.