DAQO New Energy Corp. (NYSE:DQ) Given Consensus Rating of "Moderate Buy" by Brokerages

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

Several research firms have weighed in on DQ. Hsbc Global Res downgraded DAQO New Energy from a "strong-buy" rating to a "hold" rating in a research note on Wednesday, April 30th. Wall Street Zen upgraded DAQO New Energy to a "sell" rating in a research note on Monday, April 21st. The Goldman Sachs Group downgraded DAQO New Energy from a "buy" rating to a "neutral" rating and set a $17.00 price target on the stock. in a research note on Tuesday, April 15th. Finally, HSBC downgraded 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.

DAQO New Energy Stock Performance

NYSE:DQ traded down $0.31 during mid-day trading on Friday, hitting $19.01. 1,532,560 shares of the company's stock traded hands, compared to its average volume of 1,023,603. The company has a fifty day moving average of $14.55 and a 200 day moving average of $17.00. DAQO New Energy has a twelve month low of $12.41 and a twelve month high of $30.85. The company has a market capitalization of $1.27 billion, a P/E ratio of -2.92 and a beta of 0.60.

DAQO New Energy (NYSE:DQ - Get Free Report) last announced its earnings results on Tuesday, April 29th. The semiconductor company reported ($1.07) earnings per share (EPS) for the quarter, missing the consensus estimate of ($1.02) by ($0.05). The business had revenue of $123.91 million for the quarter, compared to analyst estimates of $176.81 million. DAQO New Energy had a negative net margin of 58.63% and a negative return on equity of 7.16%. On average, research analysts expect that DAQO New Energy will post -3.5 earnings per share for the current fiscal year.

Institutional Trading of DAQO New Energy

A number of hedge funds have recently modified their holdings of the stock. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC boosted its stake in shares of DAQO New Energy by 34.4% in the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 174,912 shares of the semiconductor company's stock worth $3,168,000 after buying an additional 44,780 shares during the last quarter. Caxton Associates LLP purchased a new position in DAQO New Energy during the first quarter worth approximately $1,705,000. Goldman Sachs Group Inc. boosted its position in DAQO New Energy by 117.2% during the first 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 in the last quarter. Millennium Management LLC boosted its position in DAQO New Energy by 1,261.0% during the first quarter. Millennium Management LLC now owns 354,596 shares of the semiconductor company's stock worth $6,422,000 after purchasing an additional 328,541 shares in the last quarter. Finally, Vident Advisory LLC purchased a new position in DAQO New Energy during the first quarter worth approximately $216,000. Hedge funds and other institutional investors own 47.22% of the company's stock.

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.