DAQO New Energy Corp. (NYSE:DQ) Given Consensus Recommendation of “Moderate Buy” by Brokerages

DAQO New Energy Corp. (NYSE:DQ) has received an average rating of “Moderate Buy” from the seven analysts that are covering the stock, MarketBeat Ratings reports. One analyst has rated the stock with a sell rating, two have issued a hold rating, three have assigned a buy rating and one has given a strong buy rating to the company. The average 1-year price objective among brokers that have issued ratings on the stock in the last year is $27.0350.

A number of brokerages have issued reports on DQ. The Goldman Sachs Group set a $18.30 price objective on DAQO New Energy and gave the company a “neutral” rating in a research report on Wednesday, October 29th. Roth Mkm set a $30.00 target price on DAQO New Energy and gave the company a “neutral” rating in a research report on Tuesday, October 28th. Weiss Ratings restated a “sell (d-)” rating on shares of DAQO New Energy in a report on Monday, December 29th. Finally, Wall Street Zen raised shares of DAQO New Energy from a “sell” rating to a “hold” rating in a research note on Monday, November 3rd.

Hedge Funds Weigh In On DAQO New Energy

A number of large investors have recently bought and sold shares of the business. FengHe Fund Management Pte. Ltd. increased its stake in DAQO New Energy by 62.4% in the 3rd quarter. FengHe Fund Management Pte. Ltd. now owns 469,833 shares of the semiconductor company’s stock worth $13,216,000 after buying an additional 180,457 shares during the period. Vontobel Holding Ltd. purchased a new stake in DAQO New Energy in the 3rd quarter valued at about $1,585,000. Mitsubishi UFJ Asset Management Co. Ltd. grew its stake in DAQO New Energy by 39.1% in the 2nd quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 31,364 shares of the semiconductor company’s stock worth $476,000 after acquiring an additional 8,815 shares in the last quarter. Luminus Management LLC bought a new position in DAQO New Energy in the 3rd quarter worth about $1,125,000. Finally, Public Employees Retirement System of Ohio increased its position in shares of DAQO New Energy by 41.6% during the second quarter. Public Employees Retirement System of Ohio now owns 46,300 shares of the semiconductor company’s stock worth $702,000 after acquiring an additional 13,600 shares during the period. Hedge funds and other institutional investors own 47.22% of the company’s stock.

DAQO New Energy Price Performance

Shares of DQ opened at $27.09 on Thursday. The stock has a market capitalization of $1.82 billion, a price-to-earnings ratio of -5.27 and a beta of 0.60. DAQO New Energy has a 1 year low of $12.40 and a 1 year high of $36.59. The business’s 50 day simple moving average is $29.90 and its 200-day simple moving average is $27.42.

DAQO New Energy (NYSE:DQ) last announced its quarterly earnings results on Monday, October 27th. The semiconductor company reported ($0.22) earnings per share for the quarter, topping the consensus estimate of ($0.61) by $0.39. The company had revenue of $244.60 million for the quarter, compared to analysts’ expectations of $176.78 million. DAQO New Energy had a negative net margin of 53.74% and a negative return on equity of 5.89%. On average, sell-side analysts expect that DAQO New Energy will post -3.5 earnings per share for the current year.

About DAQO New Energy

DAQO New Energy Corp. operates as a leading manufacturer of high-purity polysilicon and monocrystalline silicon wafers for the global solar photovoltaic industry. The company focuses on serving module makers and integrated solar producers with critical upstream materials, applying proprietary technologies and optimized processes to achieve high product purity and consistently low production costs. Its core offerings include solar-grade polysilicon—used in the ingot casting and wafer slicing stages—and premium mono-silicon wafers, which are a key input for high-efficiency solar cell production.

Founded in the late 2000s and listed on the New York Stock Exchange in 2010, DAQO New Energy established its first polysilicon facility in China’s Xinjiang Uygur Autonomous Region.