HSBC initiated coverage on shares of Daqo New Energy (NYSE:DQ) in a research note issued to investors on Thursday, Price Targets.com reports. The brokerage issued a buy rating and a $112.00 price target on the semiconductor company’s stock.
Other research analysts have also issued research reports about the stock. JPMorgan Chase & Co. lowered shares of Daqo New Energy from an overweight rating to a neutral rating in a research note on Monday. Roth Capital upped their price target on shares of Daqo New Energy from $70.00 to $79.00 and gave the company a neutral rating in a research note on Tuesday, June 1st. Finally, Jefferies Financial Group assumed coverage on shares of Daqo New Energy in a research note on Thursday, April 22nd. They issued a buy rating and a $108.66 price target on the stock. Three investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. Daqo New Energy presently has a consensus rating of Buy and a consensus price target of $90.13.
Shares of DQ stock opened at $67.45 on Thursday. The company has a debt-to-equity ratio of 0.11, a quick ratio of 0.83 and a current ratio of 0.93. The firm has a 50-day moving average price of $74.59. The company has a market cap of $4.93 billion, a PE ratio of 28.80 and a beta of 0.75. Daqo New Energy has a 52-week low of $10.97 and a 52-week high of $130.33.
Several large investors have recently made changes to their positions in the business. Advisors Asset Management Inc. bought a new stake in shares of Daqo New Energy during the 1st quarter worth approximately $25,000. Allred Capital Management LLC bought a new stake in shares of Daqo New Energy during the 1st quarter worth approximately $28,000. Allworth Financial LP bought a new stake in shares of Daqo New Energy during the 1st quarter worth approximately $35,000. Parallel Advisors LLC lifted its holdings in shares of Daqo New Energy by 299.2% during the 4th quarter. Parallel Advisors LLC now owns 495 shares of the semiconductor company’s stock worth $28,000 after acquiring an additional 371 shares during the period. Finally, Inspire Advisors LLC bought a new stake in shares of Daqo New Energy during the 4th quarter worth approximately $33,000. Hedge funds and other institutional investors own 54.54% of the company’s stock.
Daqo New Energy Company Profile
Daqo New Energy Corp., together with its subsidiaries, manufactures and sells polysilicon to photovoltaic product manufactures in the People's Republic of China. The photovoltaic product manufactures further process its polysilicon into ingots, wafers, cells, and modules for solar power solutions.
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