DAQO New Energy Corp. (NYSE:DQ) Given Consensus Recommendation of “Moderate Buy” by Brokerages

DAQO New Energy Corp. (NYSE:DQ) has earned a consensus recommendation of “Moderate Buy” from the seven ratings firms that are currently covering the stock, Marketbeat.com reports. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating, three have assigned a buy rating and one has assigned a strong buy rating to the company. The average 1-year target price among analysts that have issued a report on the stock in the last year is $27.0350.

A number of research analysts have weighed in on DQ shares. HSBC raised shares of DAQO New Energy from a “hold” rating to a “buy” rating and set a $31.00 price target on the stock in a research report on Wednesday, August 27th. Glj Research reissued a “buy” rating and issued a $30.51 price objective on shares of DAQO New Energy in a research report on Tuesday, August 26th. Citigroup boosted their price objective on DAQO New Energy from $27.00 to $37.00 and gave the stock a “buy” rating in a research note on Monday, September 8th. Weiss Ratings reiterated a “sell (d)” rating on shares of DAQO New Energy in a research note on Wednesday, October 8th. Finally, New Street Research set a $15.40 target price on DAQO New Energy in a report on Thursday, September 18th.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in the company. Caitong International Asset Management Co. Ltd increased its stake in DAQO New Energy by 86,700.0% during the 1st quarter. Caitong International Asset Management Co. Ltd now owns 1,736 shares of the semiconductor company’s stock worth $31,000 after buying an additional 1,734 shares during the period. Headlands Technologies LLC acquired a new stake in shares of DAQO New Energy during the second quarter valued at about $29,000. Virtu Financial LLC acquired a new stake in shares of DAQO New Energy during the first quarter valued at about $187,000. Vident Advisory LLC acquired a new stake in shares of DAQO New Energy during the first quarter valued at about $216,000. Finally, Harvest Portfolios Group Inc. purchased a new stake in shares of DAQO New Energy during the first quarter worth about $305,000. 47.22% of the stock is owned by institutional investors and hedge funds.

DAQO New Energy Price Performance

Shares of NYSE:DQ opened at $33.60 on Friday. The business has a 50-day moving average of $27.94 and a two-hundred day moving average of $21.12. The firm has a market capitalization of $2.25 billion, a PE ratio of -6.54 and a beta of 0.73. DAQO New Energy has a 12 month low of $12.40 and a 12 month high of $34.21.

DAQO New Energy (NYSE:DQ) last released its quarterly earnings data on Monday, October 27th. The semiconductor company reported ($0.22) earnings per share for the quarter, beating the consensus estimate of ($0.61) by $0.39. DAQO New Energy had a negative return on equity of 5.89% and a negative net margin of 53.74%.The business had revenue of $162.30 million for the quarter, compared to analyst estimates of $176.78 million. As a group, research analysts anticipate that DAQO New Energy will post -3.5 earnings per share for the current year.

DAQO New Energy announced that its Board of Directors has initiated a stock buyback plan on Tuesday, August 26th that permits the company to repurchase $0.00 in shares. This repurchase authorization permits the semiconductor company to reacquire shares of its stock through open market purchases. Shares repurchase plans are usually a sign that the company’s leadership believes its shares are undervalued.

About DAQO New Energy

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.