DAQO New Energy Corp. (NYSE:DQ) Receives Consensus Rating of “Hold” from Brokerages

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

DQ has been the subject of several research reports. Wall Street Zen downgraded DAQO New Energy from a “hold” rating to a “strong sell” rating in a research report on Saturday, May 2nd. Weiss Ratings cut shares of DAQO New Energy from a “sell (d-)” rating to a “sell (e+)” rating in a research note on Wednesday, June 17th. Zacks Research cut shares of DAQO New Energy from a “hold” rating to a “strong sell” rating in a research report on Monday, May 4th. Finally, Roth Mkm set a $19.00 price target on shares of DAQO New Energy in a research report on Thursday, April 30th.

DAQO New Energy Stock Performance

DQ opened at $12.81 on Friday. The business’s fifty day moving average is $17.59 and its two-hundred day moving average is $22.75. The company has a market cap of $867.06 million, a price-to-earnings ratio of -4.61 and a beta of 0.61. DAQO New Energy has a one year low of $12.52 and a one year high of $36.59.

DAQO New Energy (NYSE:DQ) last posted its earnings results on Wednesday, April 29th. The semiconductor company reported ($1.31) EPS for the quarter, missing analysts’ consensus estimates 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 firm had revenue of $26.72 million for the quarter, compared to analysts’ expectations of $186.28 million. On average, analysts predict that DAQO New Energy will post -1.31 EPS for the current fiscal year.

Institutional Trading of DAQO New Energy

A number of large investors have recently added to or reduced their stakes in the business. Continental General Insurance Co. boosted its stake in DAQO New Energy by 11.3% in the 3rd quarter. Continental General Insurance Co. now owns 6,641,986 shares of the semiconductor company’s stock worth $186,839,000 after purchasing an additional 675,784 shares during the period. Arrowstreet Capital Limited Partnership acquired a new position in DAQO New Energy in the 3rd quarter worth approximately $18,280,000. Goldman Sachs Group Inc. boosted its stake in DAQO New Energy by 117.2% in the 1st 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 during the period. Marshall Wace LLP acquired a new position in DAQO New Energy in the 4th quarter worth approximately $16,742,000. Finally, Wolf Hill Capital Management LP purchased a new stake in DAQO New Energy in the 3rd quarter worth approximately $11,623,000. 47.22% of the stock is currently owned by 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.