DAQO New Energy Corp. (NYSE:DQ) Receives Average Recommendation of "Hold" from Brokerages

Key Points

• DAQO New Energy has a consensus “Hold” rating from eight brokerages: two sells, three holds, two buys, and one strong buy. Analysts’ average 12-month price target is $22.35.
• Recent analyst actions were mixed, including Goldman Sachs maintaining a neutral rating with an $11.20 target, Roth Capital setting a $19 target, and Wall Street Zen downgrading the stock to “strong sell.”
• Shares opened at $14.77, with a market capitalization of about $999 million and a 52-week range of $11.38 to $36.59. Hedge funds and other institutional investors own approximately 47.22% of the stock.

Shares of DAQO New Energy Corp. (NYSE:DQ - Get Free Report) have been given an average rating of "Hold" by the eight ratings firms that are covering the firm, MarketBeat Ratings reports. Two research analysts have rated the stock with a sell rating, three have issued a hold rating, two have given a buy rating and one has assigned a strong buy rating to the company. The average 1 year target price among analysts that have updated their coverage on the stock in the last year is $22.3514.

A number of brokerages recently issued reports on DQ. Wall Street Zen lowered shares of DAQO New Energy from a "hold" rating to a "strong sell" rating in a research report on Saturday, May 2nd. The Goldman Sachs Group reissued a "neutral" rating and set a $11.20 price target on shares of DAQO New Energy in a research note on Monday, July 27th. Zacks Research raised DAQO New Energy from a "strong sell" rating to a "hold" rating in a research report on Monday, June 29th. Weiss Ratings lowered DAQO New Energy from a "sell (d-)" rating to a "sell (e+)" rating in a research note on Friday, July 24th. Finally, Roth Capital set a $19.00 target price on DAQO New Energy in a research report on Thursday, April 30th.

DAQO New Energy Stock Up 0.3%

DQ opened at $14.77 on Monday. The firm has a market cap of $999.42 million, a P/E ratio of -5.31 and a beta of 0.66. The business's fifty day simple moving average is $13.41 and its 200 day simple moving average is $18.99. DAQO New Energy has a 52 week low of $11.38 and a 52 week high of $36.59.

Institutional Inflows and Outflows

Several large investors have recently modified their holdings of DQ. Ariose Capital Management Ltd boosted its holdings in DAQO New Energy by 35.0% in the fourth quarter. Ariose Capital Management Ltd now owns 457,155 shares of the semiconductor company's stock valued at $13,486,000 after acquiring an additional 118,500 shares during the last quarter. Renaissance Technologies LLC purchased a new stake in DAQO New Energy during the first quarter valued at about $3,285,000. Farther Finance Advisors LLC increased its stake in DAQO New Energy by 1,650.0% during the fourth quarter. Farther Finance Advisors LLC now owns 1,330 shares of the semiconductor company's stock worth $39,000 after acquiring an additional 1,254 shares during the last quarter. Waterfront Wealth Inc. raised its holdings in shares of DAQO New Energy by 7.3% in the 4th quarter. Waterfront Wealth Inc. now owns 54,555 shares of the semiconductor company's stock worth $1,609,000 after purchasing an additional 3,725 shares during the period. Finally, Bayforest Capital Ltd purchased a new position in shares of DAQO New Energy in the 4th quarter worth about $331,000. 47.22% of the stock is currently owned by hedge funds and other institutional investors.

DAQO New Energy Company Profile

DAQO New Energy Corp. operates as a leading manufacturer of high-purity polysilicon and monocrystalline silicon wafers for the global solar photovoltaic industry. The company focuses on serving module makers and integrated solar producers with critical upstream materials, applying proprietary technologies and optimized processes to achieve high product purity and consistently low production costs. Its core offerings include solar-grade polysilicon—used in the ingot casting and wafer slicing stages—and premium mono-silicon wafers, which are a key input for high-efficiency solar cell production.

Founded in the late 2000s and listed on the New York Stock Exchange in 2010, DAQO New Energy established its first polysilicon facility in China's Xinjiang Uygur Autonomous Region.

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