Roth Mkm Reiterates Neutral Rating for Daqo New Energy (NYSE:DQ)

Roth Mkm restated their neutral rating on shares of Daqo New Energy (NYSE:DQ) in a research report report published on Tuesday morning, Benzinga reports. The firm currently has a $23.00 target price on the semiconductor company’s stock.

Separately, Daiwa Capital Markets restated an underperform rating and set a $25.00 price objective on shares of Daqo New Energy in a research report on Friday, March 15th. One research analyst has rated the stock with a sell rating, three have issued a hold rating and one has issued a buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of Hold and a consensus price target of $32.93.

Daqo New Energy Stock Down 1.3 %

Shares of NYSE DQ traded down $0.24 during midday trading on Tuesday, hitting $18.90. The stock had a trading volume of 1,490,021 shares, compared to its average volume of 1,230,732. The business’s 50 day moving average is $24.58 and its 200-day moving average is $23.72. The company has a market cap of $1.24 billion, a P/E ratio of 8.87 and a beta of 0.32. Daqo New Energy has a 52 week low of $17.30 and a 52 week high of $45.01.

Daqo New Energy (NYSE:DQ) last issued its earnings results on Monday, April 29th. The semiconductor company reported $0.24 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.56 by ($0.32). The firm had revenue of $415.31 million during the quarter, compared to the consensus estimate of $491.90 million. Daqo New Energy had a return on equity of 2.46% and a net margin of 7.84%. During the same quarter in the prior year, the company posted $3.52 EPS. As a group, analysts expect that Daqo New Energy will post 4.06 EPS for the current fiscal year.

Institutional Trading of Daqo New Energy

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in DQ. PNC Financial Services Group Inc. increased its stake in shares of Daqo New Energy by 117.5% in the fourth quarter. PNC Financial Services Group Inc. now owns 1,588 shares of the semiconductor company’s stock worth $42,000 after purchasing an additional 858 shares in the last quarter. Quadrant Capital Group LLC increased its stake in shares of Daqo New Energy by 39.4% in the fourth quarter. Quadrant Capital Group LLC now owns 2,348 shares of the semiconductor company’s stock worth $62,000 after purchasing an additional 664 shares in the last quarter. Signaturefd LLC increased its stake in shares of Daqo New Energy by 112.4% in the fourth quarter. Signaturefd LLC now owns 6,839 shares of the semiconductor company’s stock worth $182,000 after purchasing an additional 3,619 shares in the last quarter. Daiwa Securities Group Inc. purchased a new stake in shares of Daqo New Energy in the first quarter worth $256,000. Finally, Capstone Investment Advisors LLC purchased a new stake in shares of Daqo New Energy in the first quarter worth $264,000. 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.