Brokerages Set Daqo New Energy Corp. (NYSE:DQ) Target Price at $22.26

Shares of Daqo New Energy Corp. (NYSE:DQ) have been assigned an average rating of “Buy” from the eight ratings firms that are covering the firm, Marketbeat reports. One equities research analyst has rated the stock with a hold rating, four have assigned a buy rating and three have given a strong buy rating to the company. The average 1 year target price among brokers that have issued a report on the stock in the last year is $22.26.

Several research firms have commented on DQ. Daiwa America upgraded Daqo New Energy from a “hold” rating to a “strong-buy” rating in a research note 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. StockNews.com raised shares of Daqo New Energy to a “sell” rating in a research report on Monday, September 23rd. HSBC raised shares of Daqo New Energy from a “hold” rating to a “buy” rating in a research report on Wednesday, October 2nd. Finally, Daiwa Capital Markets upgraded Daqo New Energy from a “neutral” rating to an “outperform” rating in a report on Wednesday, October 30th.

Institutional Investors Weigh In On Daqo New Energy

A number of institutional investors and hedge funds have recently modified their holdings of DQ. Sylebra Capital LLC raised its stake in Daqo New Energy by 103.9% in the 2nd quarter. Sylebra Capital LLC now owns 943,692 shares of the semiconductor company’s stock valued at $13,778,000 after acquiring an additional 480,980 shares during the period. Marshall Wace LLP raised its position in shares of Daqo New Energy by 112.3% in the second quarter. Marshall Wace LLP now owns 322,635 shares of the semiconductor company’s stock valued at $4,710,000 after purchasing an additional 170,660 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its position in shares of Daqo New Energy by 32.2% in the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 135,732 shares of the semiconductor company’s stock valued at $2,765,000 after purchasing an additional 33,031 shares during the period. Public Employees Retirement System of Ohio acquired a new stake in shares of Daqo New Energy during the 3rd quarter worth about $1,053,000. Finally, BNP Paribas Financial Markets boosted its holdings in shares of Daqo New Energy by 57.5% during the 3rd quarter. BNP Paribas Financial Markets now owns 74,571 shares of the semiconductor company’s stock worth $1,519,000 after buying an additional 27,223 shares during the period. 47.22% of the stock is owned by institutional investors.

Daqo New Energy Stock Performance

Shares of DQ opened at $20.24 on Friday. The firm has a market cap of $1.34 billion, a P/E ratio of -10.94 and a beta of 0.28. Daqo New Energy has a twelve month low of $13.62 and a twelve month high of $30.85. The firm’s 50 day moving average price is $20.21 and its two-hundred day moving average price is $18.19.

Daqo New Energy (NYSE:DQ) last released its earnings results on Wednesday, October 30th. The semiconductor company reported ($0.92) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.80) by ($0.12). The firm had revenue of $198.50 million for the quarter, compared to the consensus estimate of $186.90 million. Daqo New Energy had a negative return on equity of 1.90% and a negative net margin of 9.16%. During the same quarter last year, the company posted ($0.09) EPS. On average, sell-side analysts anticipate that Daqo New Energy will post -3.5 earnings per share for the current fiscal year.

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.