Daqo New Energy Corp. (NYSE:DQ) Receives Consensus Recommendation of “Buy” from Brokerages

Daqo New Energy Corp. (NYSE:DQ) has earned a consensus rating of “Buy” from the eight analysts that are covering the firm, MarketBeat.com reports. One investment analyst has rated the stock with a hold recommendation, four have assigned a buy recommendation and three have given a strong buy recommendation to the company. The average 1-year target price among analysts that have updated their coverage on the stock in the last year is $22.26.

DQ has been the topic of a number of recent analyst reports. HSBC upgraded shares of Daqo New Energy from a “hold” rating to a “buy” rating in a report on Wednesday, October 2nd. Daiwa Capital Markets upgraded 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 report on Wednesday, October 2nd. Finally, Daiwa America upgraded shares of Daqo New Energy from a “hold” rating to a “strong-buy” rating in a report on Wednesday, October 30th.

Daqo New Energy Trading Up 0.7 %

Shares of DQ stock opened at $17.92 on Thursday. The company’s fifty day simple moving average is $19.09 and its 200-day simple moving average is $18.58. Daqo New Energy has a 52 week low of $13.62 and a 52 week high of $30.85. The company has a market cap of $1.18 billion, a PE ratio of -9.69 and a beta of 0.26.

Daqo New Energy (NYSE:DQ) last issued its quarterly earnings data on Wednesday, October 30th. The semiconductor company reported ($0.92) EPS for the quarter, missing analysts’ consensus estimates of ($0.80) by ($0.12). Daqo New Energy had a negative return on equity of 1.90% and a negative net margin of 9.16%. The firm had revenue of $198.50 million during the quarter, compared to analyst estimates of $186.90 million. During the same quarter in the prior year, the firm earned ($0.09) EPS. Equities research analysts expect that Daqo New Energy will post -3.5 EPS for the current fiscal year.

Institutional Investors Weigh In On Daqo New Energy

A number of institutional investors have recently modified their holdings of the stock. Signaturefd LLC raised its stake in Daqo New Energy by 27.3% during the third quarter. Signaturefd LLC now owns 2,809 shares of the semiconductor company’s stock worth $57,000 after acquiring an additional 602 shares during the period. Van ECK Associates Corp raised its stake in Daqo New Energy by 4.3% during the third quarter. Van ECK Associates Corp now owns 18,657 shares of the semiconductor company’s stock worth $415,000 after acquiring an additional 764 shares during the period. Daiwa Securities Group Inc. raised its stake in Daqo New Energy by 15.4% during the third quarter. Daiwa Securities Group Inc. now owns 10,500 shares of the semiconductor company’s stock worth $214,000 after acquiring an additional 1,400 shares during the period. Rhumbline Advisers raised its stake in Daqo New Energy by 22.2% during the second quarter. Rhumbline Advisers now owns 8,104 shares of the semiconductor company’s stock worth $118,000 after acquiring an additional 1,470 shares during the period. Finally, Blue Trust Inc. raised its stake in Daqo New Energy by 132.3% during the third quarter. Blue Trust Inc. now owns 4,567 shares of the semiconductor company’s stock worth $93,000 after acquiring an additional 2,601 shares during the period. Institutional investors and hedge funds 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.