Daqo New Energy Corp. (NYSE:DQ) Receives Consensus Recommendation of "Moderate Buy" from Analysts

Shares of Daqo New Energy Corp. (NYSE:DQ - Get Free Report) have been given a consensus rating of "Moderate Buy" by the eight research firms that are covering the firm, MarketBeat.com reports. Four analysts have rated the stock with a hold recommendation, two have assigned a buy recommendation and two have issued a strong buy recommendation on the company. The average twelve-month target price among analysts that have updated their coverage on the stock in the last year is $21.01.

Several research analysts recently commented on the stock. HSBC downgraded shares of Daqo New Energy from a "buy" rating to a "hold" rating and set a $14.00 price target on the stock. in a research note on Wednesday, April 30th. Wall Street Zen upgraded shares of Daqo New Energy to a "sell" rating in a report on Monday, April 21st. The Goldman Sachs Group lowered shares of Daqo New Energy from a "buy" rating to a "neutral" rating and set a $17.00 price objective on the stock. in a report on Tuesday, April 15th. Finally, Hsbc Global Res downgraded Daqo New Energy from a "strong-buy" rating to a "hold" rating in a report on Wednesday, April 30th.

Institutional Trading of Daqo New Energy

Several large investors have recently added to or reduced their stakes in the company. Van ECK Associates Corp raised its position in shares of Daqo New Energy by 7.6% in the fourth quarter. Van ECK Associates Corp now owns 20,067 shares of the semiconductor company's stock worth $390,000 after acquiring an additional 1,410 shares during the period. Caitong International Asset Management Co. Ltd grew its position in shares of Daqo New Energy by 86,700.0% during the 1st quarter. Caitong International Asset Management Co. Ltd now owns 1,736 shares of the semiconductor company's stock valued at $31,000 after acquiring an additional 1,734 shares during the period. CoreCommodity Management LLC increased its stake in shares of Daqo New Energy by 1.6% in the 4th quarter. CoreCommodity Management LLC now owns 134,888 shares of the semiconductor company's stock valued at $2,622,000 after purchasing an additional 2,183 shares in the last quarter. Generali Investments CEE investicni spolecnost a.s. acquired a new position in Daqo New Energy in the 4th quarter worth about $52,000. Finally, Diametric Capital LP boosted its position in Daqo New Energy by 25.5% during the fourth quarter. Diametric Capital LP now owns 16,018 shares of the semiconductor company's stock worth $311,000 after purchasing an additional 3,255 shares in the last quarter. Hedge funds and other institutional investors own 47.22% of the company's stock.

Daqo New Energy Price Performance

Shares of DQ traded down $0.51 on Friday, reaching $13.40. The company's stock had a trading volume of 134,436 shares, compared to its average volume of 1,031,120. The stock's 50 day simple moving average is $15.30 and its two-hundred day simple moving average is $18.18. The stock has a market capitalization of $898.23 million, a P/E ratio of -7.24 and a beta of 0.58. Daqo New Energy has a 12-month low of $12.41 and a 12-month high of $30.85.

Daqo New Energy (NYSE:DQ - Get Free Report) last posted its quarterly earnings results on Tuesday, April 29th. The semiconductor company reported ($1.07) EPS for the quarter, missing analysts' consensus estimates of ($1.02) by ($0.05). The business had revenue of $123.91 million for the quarter, compared to the consensus estimate of $176.81 million. Daqo New Energy had a negative net margin of 9.16% and a negative return on equity of 1.90%. Analysts expect that Daqo New Energy will post -3.5 earnings per share for the current year.

About Daqo New Energy

Daqo New Energy Corp., together with its subsidiaries, manufactures and sells polysilicon to photovoltaic product manufacturers in the People's Republic of China. Its products are used in ingots, wafers, cells, and modules for solar power solutions. The company was formerly known as Mega Stand International Limited and changed its name to Daqo New Energy Corp.