Daqo New Energy Corp. (NYSE:DQ) Given Average Rating of “Buy” by Brokerages

Shares of Daqo New Energy Corp. (NYSE:DQGet Free Report) have earned an average recommendation of “Buy” from the eight ratings firms that are covering the stock, MarketBeat reports. One equities research analyst has rated the stock with a hold rating, four have assigned a buy rating and three have issued a strong buy rating on the company. The average 1-year target price among brokerages 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. Hsbc Global Res raised Daqo New Energy from a “hold” rating to a “strong-buy” rating in a research note on Wednesday, October 2nd. HSBC raised Daqo New Energy from a “hold” rating to a “buy” rating in a research note on Wednesday, October 2nd. Daiwa America raised Daqo New Energy from a “hold” rating to a “strong-buy” rating in a research note on Wednesday, October 30th. Finally, Daiwa Capital Markets raised Daqo New Energy from a “neutral” rating to an “outperform” rating in a research note on Wednesday, October 30th.

Get Our Latest Stock Report on DQ

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in the stock. Signaturefd LLC grew its holdings in Daqo New Energy by 27.3% in the 3rd quarter. Signaturefd LLC now owns 2,809 shares of the semiconductor company’s stock valued at $57,000 after buying an additional 602 shares during the last quarter. Blue Trust Inc. grew its holdings in Daqo New Energy by 132.3% in the 3rd quarter. Blue Trust Inc. now owns 4,567 shares of the semiconductor company’s stock valued at $93,000 after buying an additional 2,601 shares during the last quarter. AXA S.A. grew its holdings in Daqo New Energy by 202.3% in the 2nd quarter. AXA S.A. now owns 6,387 shares of the semiconductor company’s stock valued at $93,000 after buying an additional 4,274 shares during the last quarter. Rhumbline Advisers grew its holdings in Daqo New Energy by 22.2% in the 2nd quarter. Rhumbline Advisers now owns 8,104 shares of the semiconductor company’s stock valued at $118,000 after buying an additional 1,470 shares during the last quarter. Finally, Daiwa Securities Group Inc. grew its holdings in Daqo New Energy by 15.4% in the 3rd quarter. Daiwa Securities Group Inc. now owns 10,500 shares of the semiconductor company’s stock valued at $214,000 after buying an additional 1,400 shares during the last quarter. 47.22% of the stock is owned by institutional investors.

Daqo New Energy Trading Down 2.8 %

Shares of Daqo New Energy stock opened at $17.60 on Thursday. The stock has a 50-day moving average price of $19.15 and a 200 day moving average price of $18.58. The company has a market cap of $1.16 billion, a P/E ratio of -9.51 and a beta of 0.26. Daqo New Energy has a 1 year low of $13.62 and a 1 year high of $30.85.

Daqo New Energy (NYSE:DQGet Free Report) last posted its quarterly earnings results on Wednesday, October 30th. The semiconductor company reported ($0.92) earnings per share 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 for the quarter, compared to analysts’ expectations of $186.90 million. During the same period last year, the business earned ($0.09) earnings per share. On average, equities analysts forecast that Daqo New Energy will post -3.5 earnings per share for the current fiscal year.

About Daqo New Energy

(Get Free Report

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.

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Analyst Recommendations for Daqo New Energy (NYSE:DQ)

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