Daqo New Energy Corp. (NYSE:DQ) Receives Average Recommendation of “Buy” from Analysts

Daqo New Energy Corp. (NYSE:DQ) has earned an average rating of “Buy” from the eight brokerages that are currently covering the stock, MarketBeat Ratings reports. One investment analyst has rated the stock with a hold recommendation, four have given a buy recommendation and three have given a strong buy recommendation to the company. The average 1 year price target among analysts that have covered the stock in the last year is $22.26.

Separately, StockNews.com raised shares of Daqo New Energy to a “sell” rating in a research report on Tuesday, March 18th.

Daqo New Energy Trading Down 0.1 %

Shares of DQ opened at $18.28 on Friday. The firm has a market cap of $1.21 billion, a PE ratio of -9.88 and a beta of 0.41. Daqo New Energy has a 12 month low of $13.62 and a 12 month high of $30.85. The stock has a fifty day moving average price of $19.57 and a 200-day moving average price of $19.67.

Daqo New Energy (NYSE:DQ) last issued its quarterly earnings results on Thursday, February 27th. The semiconductor company reported ($2.71) earnings per share for the quarter, missing the consensus estimate of ($0.69) by ($2.02). Daqo New Energy had a negative return on equity of 1.90% and a negative net margin of 9.16%. The business had revenue of $195.36 million during the quarter, compared to analyst estimates of $153.54 million. As a group, research analysts forecast that Daqo New Energy will post -3.5 EPS for the current year.

Hedge Funds Weigh In On Daqo New Energy

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Daiwa Securities Group Inc. grew its holdings in Daqo New Energy by 15.4% in the 3rd quarter. Daiwa Securities Group Inc. now owns 10,500 shares of the semiconductor company’s stock valued at $214,000 after buying an additional 1,400 shares in the last quarter. Van ECK Associates Corp increased its stake in Daqo New Energy by 7.6% during the 4th quarter. Van ECK Associates Corp now owns 20,067 shares of the semiconductor company’s stock worth $390,000 after buying an additional 1,410 shares during the period. CoreCommodity Management LLC raised its stake in shares of Daqo New Energy by 1.6% in the fourth quarter. CoreCommodity Management LLC now owns 134,888 shares of the semiconductor company’s stock valued at $2,622,000 after acquiring an additional 2,183 shares in the last quarter. Generali Investments CEE investicni spolecnost a.s. acquired a new stake in Daqo New Energy in the 4th quarter valued at about $52,000. Finally, Geode Capital Management LLC raised its holdings in Daqo New Energy by 9.2% in the third quarter. Geode Capital Management LLC now owns 33,546 shares of the semiconductor company’s stock valued at $683,000 after acquiring an additional 2,813 shares in the last quarter. 47.22% of the stock is owned by hedge funds and other institutional investors.

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.