DAQO New Energy Corp. (NYSE:DQ) Given Consensus Rating of “Hold” by Analysts

Shares of DAQO New Energy Corp. (NYSE:DQ) have earned a consensus rating of “Hold” from the seven ratings firms that are presently covering the company, MarketBeat reports. Three research analysts have rated the stock with a sell rating, two have given a hold rating, one has assigned a buy rating and one has given a strong buy rating to the company. The average 12 month price objective among brokers that have covered the stock in the last year is $23.5933.

Several research firms recently commented on DQ. New Street Research set a $18.13 price target on DAQO New Energy in a research note on Tuesday, February 3rd. Wall Street Zen cut DAQO New Energy from a “hold” rating to a “strong sell” rating in a research note on Saturday, May 2nd. Weiss Ratings cut DAQO New Energy from a “sell (d-)” rating to a “sell (e+)” rating in a research note on Tuesday, May 12th. Zacks Research cut DAQO New Energy from a “hold” rating to a “strong sell” rating in a research note on Monday, May 4th. Finally, Roth Mkm set a $19.00 price objective on DAQO New Energy in a research note on Thursday, April 30th.

Institutional Trading of DAQO New Energy

Several institutional investors and hedge funds have recently bought and sold shares of DQ. Millennium Management LLC raised its stake in DAQO New Energy by 1,261.0% during 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 in the last quarter. Goldman Sachs Group Inc. raised its stake 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 valued at $21,005,000 after buying an additional 625,900 shares in the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC raised its stake 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 valued at $3,168,000 after buying an additional 44,780 shares in the last quarter. Jump Financial LLC raised its stake 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 valued at $3,219,000 after buying an additional 92,954 shares in the last quarter. Finally, Bank of America Corp DE raised its stake 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 valued at $2,940,000 after buying an additional 141,004 shares in the last quarter. Institutional investors and hedge funds own 47.22% of the company’s stock.

DAQO New Energy Stock Performance

NYSE:DQ opened at $17.86 on Wednesday. DAQO New Energy has a one year low of $12.83 and a one year high of $36.59. The business’s 50-day simple moving average is $20.46 and its 200 day simple moving average is $25.41. The stock has a market cap of $1.21 billion, a price-to-earnings ratio of -6.42 and a beta of 0.66.

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

About DAQO New Energy

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.