Daqo New Energy Corp. (NYSE:DQ) Receives $27.63 Consensus Target Price from Brokerages

Shares of Daqo New Energy Corp. (NYSE:DQ) have been given a consensus recommendation of “Reduce” by the four analysts that are currently covering the firm, MarketBeat.com reports. Two research analysts have rated the stock with a sell rating, one has issued a hold rating and one has given a buy rating to the company. The average 1-year target price among analysts that have covered the stock in the last year is $27.63.

Several analysts have commented on DQ shares. HSBC reissued a “reduce” rating and set a $17.50 price target (down from $23.50) on shares of Daqo New Energy in a research report on Monday, May 6th. Roth Mkm reaffirmed a “neutral” rating and issued a $23.00 price objective on shares of Daqo New Energy in a research report on Tuesday, April 30th. Finally, Daiwa Capital Markets reaffirmed an “underperform” rating and issued a $25.00 price objective on shares of Daqo New Energy in a research report on Friday, March 15th.

Daqo New Energy Price Performance

NYSE:DQ opened at $17.83 on Wednesday. The firm has a market cap of $1.18 billion, a PE ratio of 8.37 and a beta of 0.35. The company has a 50-day moving average of $20.50 and a 200 day moving average of $22.26. Daqo New Energy has a 1-year low of $17.30 and a 1-year high of $41.43.

Daqo New Energy (NYSE:DQ) last released its quarterly earnings results on Monday, April 29th. The semiconductor company reported $0.24 EPS for the quarter, missing the consensus estimate of $0.56 by ($0.32). The firm had revenue of $415.31 million for the quarter, compared to analysts’ expectations of $491.90 million. Daqo New Energy had a net margin of 7.84% and a return on equity of 2.46%. During the same period in the previous year, the company posted $3.52 earnings per share. Sell-side analysts anticipate that Daqo New Energy will post 0.98 EPS for the current fiscal year.

Hedge Funds Weigh In On Daqo New Energy

Hedge funds and other institutional investors have recently bought and sold shares of the business. PNC Financial Services Group Inc. increased its holdings in Daqo New Energy by 117.5% in the 4th quarter. PNC Financial Services Group Inc. now owns 1,588 shares of the semiconductor company’s stock worth $42,000 after buying an additional 858 shares during the period. Quadrant Capital Group LLC grew its stake in shares of Daqo New Energy by 39.4% during the 4th 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 during the period. Signaturefd LLC grew its stake in shares of Daqo New Energy by 112.4% during the 4th quarter. Signaturefd LLC now owns 6,839 shares of the semiconductor company’s stock worth $182,000 after purchasing an additional 3,619 shares during the period. Daiwa Securities Group Inc. acquired a new stake in shares of Daqo New Energy during the 1st quarter worth approximately $256,000. Finally, Capstone Investment Advisors LLC acquired a new stake in shares of Daqo New Energy during the 1st quarter worth approximately $264,000. Institutional investors and hedge funds own 47.22% of the company’s stock.

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.