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

DAQO New Energy Corp. (NYSE:DQ) has earned an average recommendation of “Hold” from the seven brokerages that are presently covering the company, Marketbeat reports. Two equities research analysts have rated the stock with a sell recommendation, three have assigned a hold recommendation, one has assigned a buy recommendation and one has given a strong buy recommendation to the company. The average 12 month target price among brokerages that have covered the stock in the last year is $23.5933.

DQ has been the topic of several research analyst reports. Weiss Ratings upgraded DAQO New Energy from a “sell (e+)” rating to a “sell (d-)” rating in a research note on Monday, July 6th. Zacks Research upgraded DAQO New Energy from a “strong sell” rating to a “hold” rating in a research note on Monday, June 29th. Roth Capital set a $19.00 price target on DAQO New Energy in a research report on Thursday, April 30th. Finally, Wall Street Zen downgraded DAQO New Energy from a “hold” rating to a “strong sell” rating in a research note on Saturday, May 2nd.

Institutional Investors Weigh In On DAQO New Energy

Institutional investors have recently added to or reduced their stakes in the business. Quarry LP purchased a new position in shares of DAQO New Energy in the third quarter worth about $26,000. Headlands Technologies LLC bought a new position in DAQO New Energy in the 2nd quarter worth approximately $29,000. Farther Finance Advisors LLC boosted its holdings in DAQO New Energy by 1,650.0% in the 4th quarter. Farther Finance Advisors LLC now owns 1,330 shares of the semiconductor company’s stock worth $39,000 after buying an additional 1,254 shares during the period. Caitong International Asset Management Co. Ltd purchased a new position in DAQO New Energy in the 4th quarter valued at approximately $49,000. Finally, Banque Cantonale Vaudoise purchased a new position in DAQO New Energy in the 4th quarter valued at approximately $55,000. 47.22% of the stock is owned by hedge funds and other institutional investors.

DAQO New Energy Stock Performance

Shares of DQ stock opened at $12.02 on Thursday. The firm has a market cap of $813.53 million, a price-to-earnings ratio of -4.32 and a beta of 0.65. DAQO New Energy has a 52 week low of $11.55 and a 52 week high of $36.59. The firm’s 50-day simple moving average is $14.59 and its two-hundred day simple moving average is $20.19.

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

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.