DAQO New Energy Corp. (NYSE:DQ) Receives $23.59 Average PT from Analysts

Shares of DAQO New Energy Corp. (NYSE:DQ) have been assigned a consensus rating of “Hold” from the seven brokerages that are currently covering the firm, Marketbeat Ratings reports. Three analysts have rated the stock with a sell rating, two have assigned a hold rating, one has assigned a buy rating and one has issued a strong buy rating on the company. The average 1-year price objective among analysts that have updated their coverage on the stock in the last year is $23.5933.

DQ has been the topic of a number of research analyst reports. New Street Research set a $18.13 target price on DAQO New Energy in a research report on Tuesday, February 3rd. Glj Research lowered DAQO New Energy from a “buy” rating to a “sell” rating and cut their target price for the company from $30.51 to $18.13 in a research report on Tuesday, February 3rd. Wall Street Zen lowered DAQO New Energy from a “hold” rating to a “strong sell” rating in a research report on Saturday, May 2nd. Weiss Ratings reissued a “sell (d-)” rating on shares of DAQO New Energy in a research report on Friday, March 27th. Finally, Roth Mkm set a $19.00 price target on shares of DAQO New Energy in a research note on Thursday, April 30th.

DAQO New Energy Stock Performance

DQ stock opened at $18.69 on Friday. The firm has a market cap of $1.26 billion, a PE ratio of -6.72 and a beta of 0.66. DAQO New Energy has a one year low of $12.83 and a one year high of $36.59. The firm’s 50 day moving average price is $21.80 and its 200-day moving average price is $26.41.

DAQO New Energy (NYSE:DQ) last announced its earnings results on Wednesday, April 29th. The semiconductor company reported ($1.31) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.13) by ($1.18). The firm had revenue of $26.72 million during the quarter, compared to analysts’ expectations of $186.28 million. DAQO New Energy had a negative net margin of 32.92% and a negative return on equity of 3.19%. Equities research analysts predict that DAQO New Energy will post -1.31 EPS for the current fiscal year.

Institutional Investors Weigh In On DAQO New Energy

A number of institutional investors and hedge funds have recently made changes to their positions in DQ. Millennium Management LLC raised its holdings in shares of DAQO New Energy by 1,261.0% in the first quarter. Millennium Management LLC now owns 354,596 shares of the semiconductor company’s stock valued at $6,422,000 after buying an additional 328,541 shares during the last quarter. Goldman Sachs Group Inc. raised its holdings in DAQO New Energy by 117.2% during the first quarter. Goldman Sachs Group Inc. now owns 1,159,835 shares of the semiconductor company’s stock worth $21,005,000 after purchasing an additional 625,900 shares in the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC raised its holdings in DAQO New Energy by 34.4% during the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 174,912 shares of the semiconductor company’s stock worth $3,168,000 after purchasing an additional 44,780 shares in the last quarter. Jump Financial LLC raised its holdings in DAQO New Energy by 78.0% during the second quarter. Jump Financial LLC now owns 212,200 shares of the semiconductor company’s stock worth $3,219,000 after purchasing an additional 92,954 shares in the last quarter. Finally, Bank of America Corp DE raised its holdings in DAQO New Energy by 267.0% during the second quarter. Bank of America Corp DE now owns 193,805 shares of the semiconductor company’s stock worth $2,940,000 after purchasing an additional 141,004 shares in the last quarter. 47.22% of the stock is owned by hedge funds and other institutional investors.

DAQO New Energy Company Profile

DAQO New Energy Corp. operates as a leading manufacturer of high-purity polysilicon and monocrystalline silicon wafers for the global solar photovoltaic industry. The company focuses on serving module makers and integrated solar producers with critical upstream materials, applying proprietary technologies and optimized processes to achieve high product purity and consistently low production costs. Its core offerings include solar-grade polysilicon—used in the ingot casting and wafer slicing stages—and premium mono-silicon wafers, which are a key input for high-efficiency solar cell production.

Founded in the late 2000s and listed on the New York Stock Exchange in 2010, DAQO New Energy established its first polysilicon facility in China’s Xinjiang Uygur Autonomous Region.