DAQO New Energy Corp. (DQ) Price Target Raised to $45.00 at Roth Capital
DAQO New Energy Corp. (NYSE:DQ) had its price objective lifted by research analysts at Roth Capital from $40.00 to $45.00 in a note issued to investors on Monday. The firm presently has a “buy” rating on the semiconductor company’s stock. Roth Capital’s price objective would suggest a potential upside of 12.50% from the stock’s current price.
A number of other research analysts have also recently commented on DQ. Zacks Investment Research upgraded DAQO New Energy Corp. from a “hold” rating to a “buy” rating and set a $33.00 price target on the stock in a research note on Friday, September 29th. ValuEngine upgraded DAQO New Energy Corp. from a “buy” rating to a “strong-buy” rating in a research note on Friday, September 1st. Finally, BidaskClub upgraded DAQO New Energy Corp. from a “sell” rating to a “hold” rating in a research note on Monday, July 24th. Two research analysts have rated the stock with a hold rating, two have issued a buy rating and one has given a strong buy rating to the company. The company has a consensus rating of “Buy” and an average price target of $39.33.
DAQO New Energy Corp. (DQ) traded up $0.22 on Monday, reaching $40.00. The company had a trading volume of 51,113 shares, compared to its average volume of 141,976. DAQO New Energy Corp. has a 12-month low of $18.01 and a 12-month high of $40.72. The firm has a market capitalization of $418.42, a PE ratio of 7.72 and a beta of 1.93. The company has a quick ratio of 0.36, a current ratio of 0.43 and a debt-to-equity ratio of 0.39.
DAQO New Energy Corp. (NYSE:DQ) last released its quarterly earnings results on Tuesday, August 8th. The semiconductor company reported $1.19 EPS for the quarter, missing analysts’ consensus estimates of $1.38 by ($0.19). DAQO New Energy Corp. had a return on equity of 18.90% and a net margin of 19.35%. The firm had revenue of $76.00 million for the quarter, compared to analyst estimates of $71.80 million. During the same quarter last year, the company earned $1.87 earnings per share. equities analysts predict that DAQO New Energy Corp. will post 6.16 earnings per share for the current year.
Several institutional investors have recently bought and sold shares of DQ. Public Employees Retirement System of Ohio increased its position in shares of DAQO New Energy Corp. by 264.5% during the second quarter. Public Employees Retirement System of Ohio now owns 7,767 shares of the semiconductor company’s stock worth $161,000 after acquiring an additional 5,636 shares during the period. Dynamic Technology Lab Private Ltd purchased a new stake in shares of DAQO New Energy Corp. during the second quarter worth $210,000. KCG Holdings Inc. purchased a new stake in shares of DAQO New Energy Corp. during the first quarter worth $377,000. Morgan Stanley increased its position in shares of DAQO New Energy Corp. by 243.5% during the first quarter. Morgan Stanley now owns 100,534 shares of the semiconductor company’s stock worth $1,888,000 after acquiring an additional 71,264 shares during the period. Finally, Ecofin Ltd. increased its position in shares of DAQO New Energy Corp. by 22.3% during the second quarter. Ecofin Ltd. now owns 103,205 shares of the semiconductor company’s stock worth $2,143,000 after acquiring an additional 18,846 shares during the period. 28.41% of the stock is currently owned by institutional investors and hedge funds.
About DAQO New Energy Corp.
Daqo New Energy Corp. is a polysilicon manufacturer. The Company utilizes the chemical vapor deposition process, or the modified Siemens process, to produce polysilicon. The Company’s segments include Polysilicon and Wafer. The Company manufactures and sells polysilicon to photovoltaic product manufacturers, whereby the polysilicon is processed into ingots, wafers, cells and modules for solar power solutions.
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