Daqo New Energy Corp. (NYSE:DQ) Receives $32.93 Average Target Price from Brokerages

Daqo New Energy Corp. (NYSE:DQ - Get Free Report) has received an average rating of "Hold" from the four ratings firms that are presently covering the company, Marketbeat Ratings reports. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating and one has given a buy rating to the company. The average 1-year target price among analysts that have issued ratings on the stock in the last year is $32.93.

Several equities analysts recently issued reports on DQ shares. Roth Mkm reissued a "neutral" rating and set a $23.00 price target on shares of Daqo New Energy in a report on Tuesday. Daiwa Capital Markets restated an "underperform" rating and set a $25.00 price target on shares of Daqo New Energy in a research report on Friday, March 15th.

Daqo New Energy Stock Down 10.9 %

Daqo New Energy stock traded down $2.35 on Tuesday, hitting $19.20. The company's stock had a trading volume of 1,540,814 shares, compared to its average volume of 1,217,793. The company has a fifty day moving average price of $24.55 and a 200-day moving average price of $23.84. The firm has a market cap of $1.26 billion, a P/E ratio of 3.55 and a beta of 0.22. Daqo New Energy has a one year low of $17.30 and a one year high of $48.31.

Daqo New Energy (NYSE:DQ - Get Free Report) last released its quarterly earnings data on Monday, April 29th. The semiconductor company reported $0.24 earnings per share for the quarter, missing the consensus estimate of $0.56 by ($0.32). The company had revenue of $415.31 million during the quarter, compared to the consensus estimate of $491.90 million. Daqo New Energy had a net margin of 18.24% and a return on equity of 6.42%. During the same quarter in the prior year, the company posted $3.52 earnings per share. Analysts anticipate that Daqo New Energy will post 4.06 EPS for the current year.

Institutional Investors Weigh In On Daqo New Energy

A number of institutional investors and hedge funds have recently modified their holdings of the business. Mackenzie Financial Corp raised its position in shares of Daqo New Energy by 50.0% in the 3rd quarter. Mackenzie Financial Corp now owns 1,449,737 shares of the semiconductor company's stock valued at $41,709,000 after acquiring an additional 483,254 shares during the period. Oslo Asset Management AS boosted its position in shares of Daqo New Energy by 19.2% during the third quarter. Oslo Asset Management AS now owns 155,000 shares of the semiconductor company's stock worth $4,692,000 after purchasing an additional 25,000 shares in the last quarter. Ariose Capital Management Ltd grew its holdings in shares of Daqo New Energy by 324.8% in the 3rd quarter. Ariose Capital Management Ltd now owns 800,124 shares of the semiconductor company's stock valued at $24,220,000 after buying an additional 611,755 shares during the period. Sumitomo Mitsui Trust Holdings Inc. increased its position in shares of Daqo New Energy by 4.0% in the 3rd quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 147,521 shares of the semiconductor company's stock valued at $4,465,000 after buying an additional 5,639 shares in the last quarter. Finally, Mitsubishi UFJ Kokusai Asset Management Co. Ltd. raised its stake in Daqo New Energy by 1.2% during the 3rd quarter. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. now owns 46,845 shares of the semiconductor company's stock worth $1,418,000 after buying an additional 566 shares during the period. 47.22% of the stock is owned by 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.