DAQO New Energy (NYSE:DQ) Stock Price Up 5.6% – Should You Buy?

DAQO New Energy Corp. (NYSE:DQ)’s stock price was up 5.6% on Monday . The company traded as high as $14.36 and last traded at $14.3410. 432,688 shares changed hands during trading, a decline of 49% from the average session volume of 849,113 shares. The stock had previously closed at $13.58.

Wall Street Analyst Weigh In

A number of analysts have issued reports on the company. Weiss Ratings raised DAQO New Energy from a “sell (e+)” rating to a “sell (d-)” rating in a research report on Tuesday, August 11th. New Street Research set a $10.00 price target on DAQO New Energy in a research report on Monday. The Goldman Sachs Group cut DAQO New Energy from a “neutral” rating to a “sell” rating and set a $10.00 price objective for the company. in a research note on Monday. Roth Capital set a $19.00 price objective on DAQO New Energy in a research note on Thursday, April 30th. Finally, Zacks Research downgraded DAQO New Energy from a “hold” rating to a “strong sell” rating in a report on Friday, August 7th. One analyst has rated the stock with a Strong Buy rating, two have issued a Buy rating, one has assigned a Hold rating and four have issued a Sell rating to the company. According to MarketBeat, the stock presently has an average rating of “Hold” and an average price target of $21.02.

DAQO New Energy Trading Down 1.0%

The firm has a market cap of $966.26 million, a PE ratio of -5.03 and a beta of 0.66. The business has a fifty day moving average price of $13.11 and a 200 day moving average price of $18.07.

DAQO New Energy (NYSE:DQ) last posted its earnings results on Thursday, August 20th. The semiconductor company reported ($1.20) earnings per share for the quarter, missing the consensus estimate of ($0.57) by ($0.63). The business had revenue of $62.66 million for the quarter, compared to analysts’ expectations of $52.93 million. DAQO New Energy had a negative return on equity of 3.26% and a negative net margin of 34.50%. On average, research analysts expect that DAQO New Energy Corp. will post -1.96 earnings per share for the current fiscal year.

Institutional Trading of DAQO New Energy

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in DQ. Vanguard Group Inc. boosted its holdings in shares of DAQO New Energy by 0.9% in the 4th quarter. Vanguard Group Inc. now owns 1,753,947 shares of the semiconductor company’s stock valued at $51,741,000 after buying an additional 15,159 shares in the last quarter. Invesco Ltd. grew its position in shares of DAQO New Energy by 22.6% in the 4th quarter. Invesco Ltd. now owns 1,429,565 shares of the semiconductor company’s stock valued at $42,172,000 after buying an additional 263,614 shares during the last quarter. Mackenzie Financial Corp raised its stake in DAQO New Energy by 9.1% during the 4th quarter. Mackenzie Financial Corp now owns 1,316,140 shares of the semiconductor company’s stock worth $38,934,000 after acquiring an additional 110,186 shares in the last quarter. Goldman Sachs Group Inc. raised its stake in DAQO New Energy by 117.2% during the 1st quarter. Goldman Sachs Group Inc. now owns 1,159,835 shares of the semiconductor company’s stock worth $21,005,000 after acquiring an additional 625,900 shares in the last quarter. Finally, Arrowstreet Capital Limited Partnership purchased a new stake in DAQO New Energy in the third quarter valued at $18,280,000. Institutional investors and hedge funds own 47.22% of the company’s stock.

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.