Daqo New Energy Corp. (NYSE:DQ) Receives $21.01 Average PT from Analysts

Shares of Daqo New Energy Corp. (NYSE:DQ - Get Free Report) have been given a consensus recommendation of "Moderate Buy" by the eight research firms that are currently covering the firm, Marketbeat Ratings reports. Four analysts have rated the stock with a hold recommendation, two have given a buy recommendation and two have given a strong buy recommendation to the company. The average 12-month price target among brokers that have updated their coverage on the stock in the last year is $21.01.

A number of research analysts have weighed in on DQ shares. Wall Street Zen upgraded Daqo New Energy to a "sell" rating in a report on Monday, April 21st. HSBC lowered 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 report on Wednesday, April 30th. The Goldman Sachs Group cut shares of Daqo New Energy from a "buy" rating to a "neutral" rating and set a $17.00 price objective for the company. in a research note on Tuesday, April 15th. Finally, Hsbc Global Res lowered shares of Daqo New Energy from a "strong-buy" rating to a "hold" rating in a research note on Wednesday, April 30th.

Hedge Funds Weigh In On Daqo New Energy

A number of large investors have recently made changes to their positions in DQ. Van ECK Associates Corp boosted its stake in shares of Daqo New Energy by 7.6% during the 4th 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 in the last quarter. Caitong International Asset Management Co. Ltd raised its holdings in Daqo New Energy by 86,700.0% during the first quarter. Caitong International Asset Management Co. Ltd now owns 1,736 shares of the semiconductor company's stock worth $31,000 after purchasing an additional 1,734 shares during the last quarter. CoreCommodity Management LLC boosted its position in Daqo New Energy by 1.6% during the fourth quarter. CoreCommodity Management LLC now owns 134,888 shares of the semiconductor company's stock worth $2,622,000 after purchasing an additional 2,183 shares in the last quarter. Generali Investments CEE investicni spolecnost a.s. purchased a new stake in Daqo New Energy during the fourth quarter worth $52,000. Finally, Diametric Capital LP grew its holdings in Daqo New Energy by 25.5% in the fourth quarter. Diametric Capital LP now owns 16,018 shares of the semiconductor company's stock valued at $311,000 after purchasing an additional 3,255 shares during the last quarter. Hedge funds and other institutional investors own 47.22% of the company's stock.

Daqo New Energy Trading Down 1.5%

Shares of NYSE DQ traded down $0.22 during trading on Wednesday, reaching $14.54. 655,490 shares of the company traded hands, compared to its average volume of 999,124. The stock has a market cap of $974.67 million, a P/E ratio of -7.86 and a beta of 0.59. The firm's fifty day simple moving average is $13.93 and its 200 day simple moving average is $17.49. 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 released its quarterly earnings data on Tuesday, April 29th. The semiconductor company reported ($1.07) earnings per share for the quarter, missing analysts' consensus estimates of ($1.02) by ($0.05). Daqo New Energy had a negative net margin of 9.16% and a negative return on equity of 1.90%. The firm had revenue of $123.91 million during the quarter, compared to analysts' expectations of $176.81 million. As a group, research analysts expect that Daqo New Energy will post -3.5 EPS 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.