Daqo New Energy Corp. (NYSE:DQ) Receives Consensus Rating of “Moderate Buy” from Analysts

Daqo New Energy Corp. (NYSE:DQ) has been given an average recommendation of “Moderate Buy” by the eight analysts that are currently covering the firm, MarketBeat.com reports. Three equities research analysts have rated the stock with a hold recommendation, three have issued a buy recommendation and two have issued a strong buy recommendation on the company. The average twelve-month price target among brokerages that have issued a report on the stock in the last year is $22.26.

Several equities analysts have recently issued reports on the company. Roth Mkm decreased their target price on Daqo New Energy from $23.00 to $15.00 and set a “neutral” rating for the company in a research report on Wednesday, August 28th. StockNews.com upgraded Daqo New Energy to a “sell” rating in a research report on Monday, September 23rd. Daiwa America upgraded Daqo New Energy to a “hold” rating in a research report on Wednesday, October 9th. Jefferies Financial Group decreased their price objective 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. Finally, Hsbc Global Res upgraded Daqo New Energy from a “hold” rating to a “strong-buy” rating in a research report on Wednesday, October 2nd.

Institutional Investors Weigh In On Daqo New Energy

Institutional investors have recently bought and sold shares of the company. BNP Paribas Financial Markets lifted its stake in Daqo New Energy by 142.1% in the 1st quarter. BNP Paribas Financial Markets now owns 696,865 shares of the semiconductor company’s stock valued at $19,617,000 after acquiring an additional 409,057 shares in the last quarter. Quadrature Capital Ltd bought a new stake in shares of Daqo New Energy during the 4th quarter worth approximately $471,000. Acadian Asset Management LLC bought a new stake in shares of Daqo New Energy during the 1st quarter worth approximately $3,457,000. Jupiter Asset Management Ltd. bought a new stake in shares of Daqo New Energy during the 1st quarter worth approximately $9,647,000. Finally, Sylebra Capital LLC raised its stake in shares of Daqo New Energy by 103.9% during the 2nd quarter. Sylebra Capital LLC now owns 943,692 shares of the semiconductor company’s stock worth $13,778,000 after purchasing an additional 480,980 shares in the last quarter. Institutional investors own 47.22% of the company’s stock.

Daqo New Energy Stock Down 3.5 %

Shares of DQ stock opened at $19.78 on Tuesday. The stock has a 50-day moving average price of $17.14 and a 200 day moving average price of $18.83. The firm has a market cap of $1.31 billion, a price-to-earnings ratio of 9.29 and a beta of 0.32. Daqo New Energy has a 12 month low of $13.62 and a 12 month high of $30.03.

Daqo New Energy (NYSE:DQ) last posted its earnings results on Monday, August 26th. The semiconductor company reported ($1.81) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.56) by ($1.25). The company had revenue of $219.91 million for the quarter, compared to analyst estimates of $406.50 million. Daqo New Energy had a negative return on equity of 1.04% and a negative net margin of 4.11%. During the same quarter in the previous year, the firm posted $1.34 earnings per share. Sell-side analysts predict that Daqo New Energy will post -3.35 earnings per share for the current fiscal year.

Daqo New Energy announced that its board has approved a stock buyback plan on Monday, July 22nd that permits the company to repurchase $100.00 million in outstanding shares. This repurchase authorization permits the semiconductor company to buy up to 8.6% of its stock through open market purchases. Stock repurchase plans are often a sign that the company’s board believes its stock is undervalued.

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.