Daqo New Energy (NYSE:DQ) Earns Buy Rating from Analysts at The Goldman Sachs Group

The Goldman Sachs Group assumed coverage on shares of Daqo New Energy (NYSE:DQ) in a research report sent to investors on Thursday, Marketbeat Ratings reports. The brokerage issued a buy rating on the semiconductor company’s stock.

Other research analysts have also recently issued reports about the company. Roth Mkm reissued a neutral rating and set a $23.00 price objective on shares of Daqo New Energy in a report on Tuesday, April 30th. HSBC reissued a reduce rating and set a $17.50 price objective (down from $23.50) on shares of Daqo New Energy in a report on Monday, May 6th. Finally, Daiwa Capital Markets reissued an underperform rating and set a $25.00 price objective on shares of Daqo New Energy in a report on Friday, March 15th. Two analysts have rated the stock with a sell rating, two have assigned a hold rating and two have given a buy rating to the company. According to MarketBeat, the company has a consensus rating of Hold and a consensus target price of $27.63.

Daqo New Energy Price Performance

Shares of DQ stock opened at $16.89 on Thursday. The stock has a market cap of $1.11 billion, a P/E ratio of 7.93 and a beta of 0.28. Daqo New Energy has a one year low of $14.21 and a one year high of $41.37. The stock has a fifty day moving average price of $18.62 and a 200 day moving average price of $21.40.

Daqo New Energy (NYSE:DQ) last issued its quarterly earnings data on Monday, April 29th. The semiconductor company reported $0.24 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.56 by ($0.32). The company had revenue of $415.31 million for the quarter, compared to the consensus estimate of $491.90 million. Daqo New Energy had a net margin of 7.84% and a return on equity of 2.46%. During the same period in the previous year, the business posted $3.52 earnings per share. Equities research analysts anticipate that Daqo New Energy will post 0.98 EPS for the current year.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in DQ. Sylebra Capital LLC bought a new position in shares of Daqo New Energy in the first quarter valued at about $13,025,000. FengHe Fund Management Pte. Ltd. acquired a new stake in Daqo New Energy in the fourth quarter worth about $11,480,000. BNP Paribas Financial Markets increased its position in Daqo New Energy by 142.1% in the first quarter. BNP Paribas Financial Markets now owns 696,865 shares of the semiconductor company’s stock worth $19,617,000 after purchasing an additional 409,057 shares during the period. Mackenzie Financial Corp increased its position in Daqo New Energy by 23.8% in the fourth quarter. Mackenzie Financial Corp now owns 1,794,353 shares of the semiconductor company’s stock worth $47,730,000 after purchasing an additional 344,616 shares during the period. Finally, Jupiter Asset Management Ltd. acquired a new stake in Daqo New Energy in the first quarter worth about $9,647,000. 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.