DAQO New Energy Corp. (NYSE:DQ) Receives Consensus Recommendation of "Moderate Buy" from Analysts

Key Points

• The analysts have given DAQO New Energy Corp. a consensus recommendation of "Moderate Buy", with an average one-year price target of $25.9850.
• Institutional investors currently own 47.22% of DAQO's stock, with notable new stakes acquired during the third quarter.
• DAQO reported a quarterly earnings loss of ($1.14) EPS, which was slightly better than the consensus estimate, with revenue significantly below estimates at $75.19 million.

DAQO New Energy Corp. (NYSE:DQ - Get Free Report) has received an average rating of "Moderate Buy" from the nine research firms that are currently covering the firm, MarketBeat.com reports. Two equities research analysts have rated the stock with a sell recommendation, one has issued a hold recommendation, four have given a buy recommendation and two have given a strong buy recommendation to the company. The average 1 year price objective among brokers that have covered the stock in the last year is $25.9850.

Several brokerages recently weighed in on DQ. HSBC raised DAQO New Energy from a "hold" rating to a "buy" rating and set a $31.00 price target for the company in a report on Wednesday, August 27th. Wall Street Zen downgraded DAQO New Energy from a "hold" rating to a "sell" rating in a report on Tuesday, September 23rd. New Street Research set a $15.40 price target on DAQO New Energy in a report on Thursday, September 18th. Hsbc Global Res raised DAQO New Energy from a "hold" rating to a "strong-buy" rating in a report on Wednesday, August 27th. Finally, Citigroup increased their price target on DAQO New Energy from $27.00 to $37.00 and gave the stock a "buy" rating in a report on Monday, September 8th.

Institutional Investors Weigh In On DAQO New Energy

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. Polunin Capital Partners Ltd acquired a new stake in DAQO New Energy in the third quarter valued at $37,183,000. Luminus Management LLC acquired a new stake in DAQO New Energy in the third quarter valued at $1,125,000. Squarepoint Ops LLC lifted its holdings in DAQO New Energy by 34.0% in the second quarter. Squarepoint Ops LLC now owns 51,516 shares of the semiconductor company's stock valued at $781,000 after acquiring an additional 13,072 shares during the period. Marex Group plc acquired a new stake in DAQO New Energy in the second quarter valued at $356,000. Finally, Headlands Technologies LLC acquired a new stake in DAQO New Energy in the second quarter valued at $29,000. Institutional investors and hedge funds own 47.22% of the company's stock.

DAQO New Energy Trading Up 7.7%

DQ stock opened at $25.57 on Tuesday. The company has a market capitalization of $1.71 billion, a P/E ratio of -4.38 and a beta of 0.60. DAQO New Energy has a twelve month low of $12.40 and a twelve month high of $31.21. The business has a 50 day simple moving average of $25.52 and a 200-day simple moving average of $19.31.

DAQO New Energy (NYSE:DQ - Get Free Report) last posted its quarterly earnings data on Tuesday, August 26th. The semiconductor company reported ($1.14) earnings per share for the quarter, beating the consensus estimate of ($1.16) by $0.02. The business had revenue of $75.19 million during the quarter, compared to the consensus estimate of $140.54 million. DAQO New Energy had a negative return on equity of 6.54% and a negative net margin of 65.64%. Research analysts predict that DAQO New Energy will post -3.5 EPS for the current fiscal year.

DAQO New Energy announced that its Board of Directors has authorized a stock buyback program on Tuesday, August 26th that authorizes the company to buyback $0.00 in shares. This buyback authorization authorizes the semiconductor company to repurchase shares of its stock through open market purchases. Shares buyback programs are typically an indication that the company's board of directors believes its shares are undervalued.

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.

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