Daqo New Energy (NYSE:DQ) Rating Reiterated by Roth Mkm

Daqo New Energy (NYSE:DQ)‘s stock had its “neutral” rating reaffirmed by analysts at Roth Mkm in a note issued to investors on Tuesday, Benzinga reports. They currently have a $23.00 price objective on the semiconductor company’s stock. Roth Mkm’s price objective suggests a potential upside of 22.60% from the stock’s previous close.

Separately, Daiwa Capital Markets reaffirmed an “underperform” rating and set a $25.00 price objective on shares of Daqo New Energy in a research note on Friday, March 15th. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating and one has given a buy rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Hold” and a consensus target price of $32.93.

Daqo New Energy Stock Down 2.3 %

DQ stock opened at $18.76 on Tuesday. The business’s fifty day moving average is $24.55 and its 200-day moving average is $23.79. The company has a market cap of $1.23 billion, a P/E ratio of 8.81 and a beta of 0.22. Daqo New Energy has a twelve month low of $17.30 and a twelve month high of $47.50.

Daqo New Energy (NYSE:DQ) last posted its quarterly earnings results on Monday, April 29th. The semiconductor company reported $0.24 earnings per share for the quarter, missing analysts’ consensus estimates of $0.56 by ($0.32). The company had revenue of $415.31 million during the quarter, compared to analyst estimates of $491.90 million. Daqo New Energy had a net margin of 7.84% and a return on equity of 2.46%. During the same period last year, the company earned $3.52 EPS. Research analysts anticipate that Daqo New Energy will post 4.06 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Daqo New Energy

Large investors have recently added to or reduced their stakes in the company. PNC Financial Services Group Inc. increased its holdings in Daqo New Energy by 117.5% during the 4th quarter. PNC Financial Services Group Inc. now owns 1,588 shares of the semiconductor company’s stock worth $42,000 after purchasing an additional 858 shares in the last quarter. Quadrant Capital Group LLC increased its holdings in Daqo New Energy by 39.4% during the 4th quarter. Quadrant Capital Group LLC now owns 2,348 shares of the semiconductor company’s stock worth $62,000 after purchasing an additional 664 shares in the last quarter. Signaturefd LLC increased its holdings in Daqo New Energy by 112.4% during the 4th quarter. Signaturefd LLC now owns 6,839 shares of the semiconductor company’s stock worth $182,000 after purchasing an additional 3,619 shares in the last quarter. Capstone Investment Advisors LLC bought a new position in Daqo New Energy during the 1st quarter worth about $264,000. Finally, Investment House LLC bought a new position in Daqo New Energy during the 4th quarter worth about $266,000. 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.