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

Shares of Daqo New Energy Corp. (NYSE:DQ) have been assigned an average rating of “Hold” from the four research firms that are currently covering the stock, Marketbeat Ratings reports. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating and one has issued a buy rating on the company. The average 12 month price target among brokers that have issued a report on the stock in the last year is $32.93.

Several equities analysts recently commented on DQ shares. Daiwa Capital Markets reaffirmed an “underperform” rating and set a $25.00 price target on shares of Daqo New Energy in a research report on Friday, March 15th. Roth Mkm restated a “neutral” rating and set a $23.00 price objective on shares of Daqo New Energy in a report on Tuesday, April 30th.

Institutional Investors Weigh In On Daqo New Energy

A number of institutional investors have recently modified their holdings of DQ. Mackenzie Financial Corp increased its holdings in shares of Daqo New Energy by 23.8% in the 4th quarter. Mackenzie Financial Corp now owns 1,794,353 shares of the semiconductor company’s stock valued at $47,730,000 after acquiring an additional 344,616 shares during the last quarter. Invesco Ltd. raised its holdings in shares of Daqo New Energy by 6.9% during the third quarter. Invesco Ltd. now owns 1,658,153 shares of the semiconductor company’s stock worth $50,192,000 after purchasing an additional 107,235 shares during the period. Andra AP fonden raised its holdings in shares of Daqo New Energy by 48.1% during the third quarter. Andra AP fonden now owns 133,700 shares of the semiconductor company’s stock worth $4,047,000 after purchasing an additional 43,400 shares during the period. SG Americas Securities LLC lifted its position in shares of Daqo New Energy by 12.2% in the 4th quarter. SG Americas Securities LLC now owns 80,987 shares of the semiconductor company’s stock worth $2,154,000 after buying an additional 8,775 shares during the last quarter. Finally, UBS Group AG boosted its holdings in shares of Daqo New Energy by 75.2% in the 3rd quarter. UBS Group AG now owns 328,745 shares of the semiconductor company’s stock valued at $9,951,000 after buying an additional 141,079 shares during the period. Institutional investors and hedge funds own 47.22% of the company’s stock.

Daqo New Energy Stock Down 1.2 %

DQ opened at $18.91 on Tuesday. The business’s fifty day simple moving average is $24.58 and its 200 day simple moving average is $23.67. Daqo New Energy has a 52 week low of $17.30 and a 52 week high of $45.01. The firm has a market cap of $1.24 billion, a P/E ratio of 8.88 and a beta of 0.32.

Daqo New Energy (NYSE:DQ) last announced its quarterly earnings data on Monday, April 29th. The semiconductor company reported $0.24 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.56 by ($0.32). The firm had revenue of $415.31 million for the quarter, compared to analysts’ expectations 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 in the previous year, the company posted $3.52 EPS. As a group, equities analysts expect that Daqo New Energy will post 2.59 EPS for the current fiscal year.

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.