DAQO New Energy Corp. (NYSE:DQ) Receives Consensus Rating of “Hold” from Analysts

Shares of DAQO New Energy Corp. (NYSE:DQ) have been given an average rating of “Hold” by the seven brokerages that are currently covering the company, MarketBeat Ratings reports. Two investment analysts have rated the stock with a sell recommendation, three have issued a hold recommendation, one has issued a buy recommendation and one has given a strong buy recommendation to the company. The average 1 year target price among analysts that have covered the stock in the last year is $23.5933.

A number of equities analysts have weighed in on the stock. Weiss Ratings upgraded shares of DAQO New Energy from a “sell (e+)” rating to a “sell (d-)” rating in a research report on Monday, July 6th. Roth Capital set a $19.00 target price on shares of DAQO New Energy in a research report on Thursday, April 30th. Wall Street Zen cut shares of DAQO New Energy from a “hold” rating to a “strong sell” rating in a research note on Saturday, May 2nd. Finally, Zacks Research upgraded shares of DAQO New Energy from a “strong sell” rating to a “hold” rating in a research report on Monday, June 29th.

Hedge Funds Weigh In On DAQO New Energy

A number of hedge funds have recently made changes to their positions in DQ. Banque Cantonale Vaudoise boosted its position in DAQO New Energy by 37.5% during the first quarter. Banque Cantonale Vaudoise now owns 2,579 shares of the semiconductor company’s stock worth $55,000 after acquiring an additional 703 shares during the last quarter. Vontobel Holding Ltd. raised its holdings in DAQO New Energy by 1.5% in the 4th quarter. Vontobel Holding Ltd. now owns 57,176 shares of the semiconductor company’s stock valued at $1,687,000 after acquiring an additional 836 shares during the last quarter. Quarry LP acquired a new stake in DAQO New Energy in the 3rd quarter valued at about $26,000. Farther Finance Advisors LLC lifted its stake in DAQO New Energy by 1,650.0% in the 4th quarter. Farther Finance Advisors LLC now owns 1,330 shares of the semiconductor company’s stock worth $39,000 after purchasing an additional 1,254 shares in the last quarter. Finally, Caitong International Asset Management Co. Ltd purchased a new stake in shares of DAQO New Energy in the fourth quarter valued at approximately $49,000. Institutional investors and hedge funds own 47.22% of the company’s stock.

DAQO New Energy Trading Up 1.9%

Shares of DQ opened at $12.06 on Thursday. The firm has a market cap of $816.24 million, a P/E ratio of -4.34 and a beta of 0.65. DAQO New Energy has a 12 month low of $11.55 and a 12 month high of $36.59. The stock’s 50 day moving average is $15.27 and its two-hundred day moving average is $20.83.

DAQO New Energy (NYSE:DQ) last announced its earnings results on Wednesday, April 29th. The semiconductor company reported ($1.31) earnings per share for the quarter, missing the consensus estimate of ($0.13) by ($1.18). DAQO New Energy had a negative return on equity of 3.19% and a negative net margin of 32.92%.The business had revenue of $26.72 million for the quarter, compared to analyst estimates of $186.28 million. Equities research analysts forecast that DAQO New Energy will post -1.31 EPS 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.