Analysts Set Daqo New Energy Corp. (NYSE:DQ) PT at $21.01

Shares of Daqo New Energy Corp. (NYSE:DQ - Get Free Report) have been given an average rating of "Moderate Buy" by the eight analysts that are presently covering the company, Marketbeat reports. Four equities research analysts have rated the stock with a hold recommendation, two have assigned a buy recommendation and two have given a strong buy recommendation to the company. The average 1 year price objective among brokers that have updated their coverage on the stock in the last year is $21.01.

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

Daqo New Energy Stock Down 2.3%

Shares of NYSE DQ traded down $0.33 during midday trading on Wednesday, hitting $13.90. The company had a trading volume of 442,997 shares, compared to its average volume of 1,001,388. Daqo New Energy has a twelve month low of $12.41 and a twelve month high of $30.85. The business has a 50-day simple moving average of $13.89 and a two-hundred day simple moving average of $17.40. The firm has a market capitalization of $932.36 million, a price-to-earnings ratio of -7.52 and a beta of 0.59.

Daqo New Energy (NYSE:DQ - Get Free Report) last announced its quarterly earnings data on Tuesday, April 29th. The semiconductor company reported ($1.07) EPS for the quarter, missing the consensus estimate 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 company had revenue of $123.91 million during the quarter, compared to analyst estimates of $176.81 million. On average, equities analysts forecast that Daqo New Energy will post -3.5 EPS for the current year.

Institutional Investors Weigh In On Daqo New Energy

A number of hedge funds and other institutional investors have recently modified their holdings of DQ. Greenwoods Asset Management Hong Kong Ltd. grew its holdings in shares of Daqo New Energy by 5,286.6% during the fourth quarter. Greenwoods Asset Management Hong Kong Ltd. now owns 2,714,780 shares of the semiconductor company's stock worth $52,775,000 after buying an additional 2,664,381 shares in the last quarter. Prudential PLC purchased a new stake in Daqo New Energy in the fourth quarter valued at approximately $14,775,000. Goldman Sachs Group Inc. grew its holdings in Daqo New Energy by 117.2% in 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 purchasing an additional 625,900 shares during the period. SG Americas Securities LLC acquired a new position in Daqo New Energy during the first quarter valued at approximately $9,372,000. Finally, Hsbc Holdings PLC lifted its position in Daqo New Energy by 514.3% during the first quarter. Hsbc Holdings PLC now owns 501,145 shares of the semiconductor company's stock valued at $9,026,000 after buying an additional 419,569 shares in the last quarter. 47.22% of the stock is currently owned by hedge funds and other institutional investors.

Daqo New Energy Company Profile

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.