Analysts Set Daqo New Energy Corp. (NYSE:DQ) Target Price at $22.26

Daqo New Energy Corp. (NYSE:DQ) has received a consensus recommendation of “Buy” from the eight analysts that are covering the company, MarketBeat.com reports. One equities research analyst has rated the stock with a hold rating, four have issued a buy rating and three have issued a strong buy rating on the company. The average 1-year price target among brokers that have issued ratings on the stock in the last year is $22.26.

DQ has been the subject of a number of recent research reports. Jefferies Financial Group decreased their target price on Daqo New Energy from $38.40 to $34.05 and set a “buy” rating for the company in a research report on Monday, August 26th. StockNews.com raised Daqo New Energy to a “sell” rating in a report on Monday, September 23rd. Daiwa Capital Markets raised shares of Daqo New Energy from a “neutral” rating to an “outperform” rating in a report on Wednesday, October 30th. Hsbc Global Res upgraded shares of Daqo New Energy from a “hold” rating to a “strong-buy” rating in a research note on Wednesday, October 2nd. Finally, Roth Mkm dropped their price target on shares of Daqo New Energy from $23.00 to $15.00 and set a “neutral” rating on the stock in a research note on Wednesday, August 28th.

Daqo New Energy Price Performance

Shares of Daqo New Energy stock opened at $18.08 on Wednesday. The stock has a fifty day moving average price of $21.09 and a 200-day moving average price of $18.50. The firm has a market cap of $1.19 billion, a PE ratio of -9.84 and a beta of 0.28. Daqo New Energy has a 1 year low of $13.62 and a 1 year high of $30.85.

Daqo New Energy (NYSE:DQ) last issued its quarterly earnings results on Wednesday, October 30th. The semiconductor company reported ($0.92) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.80) by ($0.12). The company had revenue of $198.50 million for the quarter, compared to analysts’ expectations of $186.90 million. Daqo New Energy had a negative return on equity of 1.90% and a negative net margin of 9.16%. During the same quarter in the previous year, the business earned ($0.09) EPS. As a group, equities analysts anticipate that Daqo New Energy will post -3.5 EPS for the current fiscal year.

Institutional Investors Weigh In On Daqo New Energy

Institutional investors and hedge funds have recently modified their holdings of the company. Sylebra Capital LLC raised its stake in Daqo New Energy by 103.9% in the second quarter. Sylebra Capital LLC now owns 943,692 shares of the semiconductor company’s stock valued at $13,778,000 after purchasing an additional 480,980 shares in the last quarter. Marshall Wace LLP increased its holdings in shares of Daqo New Energy by 112.3% in the 2nd quarter. Marshall Wace LLP now owns 322,635 shares of the semiconductor company’s stock worth $4,710,000 after buying an additional 170,660 shares during the last quarter. Point72 Asset Management L.P. purchased a new stake in shares of Daqo New Energy during the 2nd quarter valued at $11,080,000. Mackenzie Financial Corp lifted its holdings in shares of Daqo New Energy by 6.4% during the 2nd quarter. Mackenzie Financial Corp now owns 2,496,997 shares of the semiconductor company’s stock worth $36,456,000 after acquiring an additional 149,610 shares during the last quarter. Finally, Blue Trust Inc. grew its position in Daqo New Energy by 12,187.5% in the second quarter. Blue Trust Inc. now owns 1,966 shares of the semiconductor company’s stock worth $29,000 after acquiring an additional 1,950 shares in the last quarter. 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.