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

Shares of Daqo New Energy Corp. (NYSE:DQ) have been given a consensus rating of “Buy” by the eight analysts that are currently covering the company, Marketbeat.com reports. One research analyst has rated the stock with a hold recommendation, four have assigned a buy recommendation and three have issued a strong buy recommendation on the company. The average 12-month target price among brokers that have updated their coverage on the stock in the last year is $22.26.

Separately, StockNews.com raised Daqo New Energy to a “sell” rating in a research report on Tuesday, March 18th.

Daqo New Energy Trading Up 1.6 %

Daqo New Energy stock opened at $18.56 on Friday. Daqo New Energy has a 12 month low of $13.62 and a 12 month high of $30.85. The business’s fifty day simple moving average is $19.56 and its two-hundred day simple moving average is $19.77. The company has a market capitalization of $1.22 billion, a price-to-earnings ratio of -10.03 and a beta of 0.41.

Daqo New Energy (NYSE:DQ) last announced its quarterly earnings data on Thursday, February 27th. The semiconductor company reported ($2.71) EPS for the quarter, missing the consensus estimate of ($0.69) by ($2.02). The firm had revenue of $195.36 million for the quarter, compared to analysts’ expectations of $153.54 million. Daqo New Energy had a negative net margin of 9.16% and a negative return on equity of 1.90%. On average, equities research analysts predict that Daqo New Energy will post -3.5 EPS for the current year.

Institutional Investors Weigh In On Daqo New Energy

Large investors have recently added to or reduced their stakes in the stock. Continental General Insurance Co. lifted its holdings in shares of Daqo New Energy by 5.8% during the 4th quarter. Continental General Insurance Co. now owns 5,916,202 shares of the semiconductor company’s stock valued at $115,011,000 after buying an additional 322,084 shares during the period. Greenwoods Asset Management Hong Kong Ltd. increased its position in Daqo New Energy by 5,286.6% during the fourth quarter. Greenwoods Asset Management Hong Kong Ltd. now owns 2,714,780 shares of the semiconductor company’s stock valued at $52,775,000 after acquiring an additional 2,664,381 shares during the last quarter. Ariose Capital Management Ltd increased its position in Daqo New Energy by 27.5% during the fourth quarter. Ariose Capital Management Ltd now owns 1,505,709 shares of the semiconductor company’s stock valued at $29,271,000 after acquiring an additional 324,585 shares during the last quarter. Point72 Asset Management L.P. lifted its holdings in Daqo New Energy by 67.5% in the fourth quarter. Point72 Asset Management L.P. now owns 886,655 shares of the semiconductor company’s stock valued at $17,237,000 after acquiring an additional 357,460 shares during the period. Finally, State Street Corp boosted its position in Daqo New Energy by 1.1% in the third quarter. State Street Corp now owns 842,921 shares of the semiconductor company’s stock worth $17,170,000 after purchasing an additional 8,983 shares during the last quarter. Institutional investors own 47.22% of the company’s stock.

Daqo New Energy Company Profile

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.