DAQO New Energy Corp. (NYSE:DQ) Receives $21.01 Consensus Price Target from Analysts

Shares of DAQO New Energy Corp. (NYSE:DQ - Get Free Report) have received a consensus rating of "Moderate Buy" from the eight research firms that are currently covering the company, MarketBeat.com reports. Four research 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 twelve-month price target among analysts that have covered the stock in the last year is $21.01.

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

DAQO New Energy Stock Performance

Shares of DAQO New Energy stock traded up $1.24 during trading on Friday, hitting $18.95. 2,122,710 shares of the company's stock were exchanged, compared to its average volume of 1,007,142. DAQO New Energy has a 52-week low of $12.41 and a 52-week high of $30.85. The business has a 50-day simple moving average of $14.24 and a 200-day simple moving average of $16.98. The stock has a market capitalization of $1.27 billion, a price-to-earnings ratio of -2.91 and a beta of 0.60.

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 58.63% and a negative return on equity of 7.16%. The firm had revenue of $123.91 million during the quarter, compared to analysts' expectations of $176.81 million. On average, equities analysts anticipate that DAQO New Energy will post -3.5 earnings per share for the current fiscal year.

Institutional Investors Weigh In On DAQO New Energy

Several large investors have recently added to or reduced their stakes in DQ. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC increased its position in shares of DAQO New Energy by 34.4% in the 1st 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 purchasing an additional 44,780 shares during the last quarter. Caxton Associates LLP purchased a new position in shares of DAQO New Energy in the 1st quarter valued at $1,705,000. Goldman Sachs Group Inc. grew its position in shares of 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 valued at $21,005,000 after buying an additional 625,900 shares during the last quarter. Millennium Management LLC grew its position in shares of DAQO New Energy by 1,261.0% in the 1st 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 during the last quarter. Finally, Vident Advisory LLC purchased a new position in shares of DAQO New Energy in the 1st quarter valued at $216,000. 47.22% of the stock is 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.