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

Shares of Daqo New Energy Corp. (NYSE:DQ – Get Free Report) have earned an average recommendation of “Moderate Buy” from the four brokerages that are presently covering the firm, Marketbeat.com reports. Two analysts have rated the stock with a hold recommendation and two have given a buy recommendation to the company. The average twelve-month target price among analysts that have issued a report on the stock in the last year is $51.23.

Several equities research analysts have recently issued reports on the stock. Nomura upgraded shares of Daqo New Energy from a “neutral” rating to a “buy” rating and set a $45.00 target price for the company in a report on Friday, August 4th. HSBC dropped their price objective on Daqo New Energy from $42.80 to $38.70 and set a “hold” rating for the company in a report on Friday, August 4th. Daiwa Capital Markets upgraded Daqo New Energy from a “neutral” rating to an “outperform” rating in a research note on Thursday, May 4th. StockNews.com initiated coverage on shares of Daqo New Energy in a report on Thursday, August 17th. They set a “hold” rating for the company. Finally, TheStreet lowered shares of Daqo New Energy from a “b-” rating to a “c+” rating in a research report on Monday, June 26th.

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Institutional Investors Weigh In On Daqo New Energy

Hedge funds have recently made changes to their positions in the stock. Bank of America Corp DE increased its position in Daqo New Energy by 1,305.7% during the 1st quarter. Bank of America Corp DE now owns 1,981,937 shares of the semiconductor company’s stock valued at $92,834,000 after buying an additional 1,840,945 shares in the last quarter. Alpine Investment Management Ltd acquired a new stake in Daqo New Energy in the 1st quarter worth approximately $70,544,000. Morgan Stanley grew its position in Daqo New Energy by 189.4% during the 4th quarter. Morgan Stanley now owns 1,839,118 shares of the semiconductor company’s stock worth $71,008,000 after purchasing an additional 1,203,536 shares during the last quarter. Envestnet Asset Management Inc. increased its stake in Daqo New Energy by 2,930.7% during the 1st quarter. Envestnet Asset Management Inc. now owns 985,296 shares of the semiconductor company’s stock valued at $1,673,000 after purchasing an additional 952,786 shares in the last quarter. Finally, Snow Lake Management LP purchased a new position in shares of Daqo New Energy in the first quarter worth $42,156,000. 57.38% of the stock is currently owned by hedge funds and other institutional investors.

Daqo New Energy Stock Performance

DQ stock opened at $36.12 on Tuesday. The firm has a fifty day moving average price of $37.48 and a 200 day moving average price of $41.87. Daqo New Energy has a fifty-two week low of $33.40 and a fifty-two week high of $71.37. The firm has a market cap of $2.79 billion, a PE ratio of 2.63 and a beta of 0.52.

Daqo New Energy (NYSE:DQ – Get Free Report) last announced its earnings results on Thursday, August 3rd. The semiconductor company reported $1.34 earnings per share (EPS) for the quarter, missing the consensus estimate of $5.79 by ($4.45). The business had revenue of $636.72 million for the quarter, compared to analysts’ expectations of $1.22 billion. Daqo New Energy had a net margin of 31.45% and a return on equity of 16.65%. On average, equities analysts predict that Daqo New Energy will post 9.29 EPS for the current 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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