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

DAQO New Energy Corp. (NYSE:DQ) has been given an average recommendation of “Hold” by the six research firms that are presently covering the stock, Marketbeat reports. Two equities research analysts have rated the stock with a sell rating, two have given a hold rating, one has given a buy rating and one has issued a strong buy rating on the company. The average 12-month price target among brokers that have updated their coverage on the stock in the last year is $25.4267.

DQ has been the subject of a number of analyst reports. Weiss Ratings reiterated a “sell (d-)” rating on shares of DAQO New Energy in a research report on Monday, December 29th. Wall Street Zen upgraded shares of DAQO New Energy from a “sell” rating to a “hold” rating in a research report on Monday, November 3rd. New Street Research set a $18.13 price target on shares of DAQO New Energy in a research report on Tuesday, February 3rd. Roth Mkm set a $30.00 price objective on shares of DAQO New Energy and gave the company a “neutral” rating in a report on Tuesday, October 28th. Finally, Glj Research cut DAQO New Energy from a “buy” rating to a “sell” rating and dropped their target price for the stock from $30.51 to $18.13 in a report on Tuesday, February 3rd.

DAQO New Energy Stock Down 0.1%

Shares of NYSE:DQ opened at $24.31 on Monday. The company’s 50-day moving average price is $27.22 and its 200 day moving average price is $27.82. The company has a market cap of $1.63 billion, a PE ratio of -4.73 and a beta of 0.70. DAQO New Energy has a fifty-two week low of $12.40 and a fifty-two week high of $36.59.

Institutional Inflows and Outflows

Hedge funds have recently bought and sold shares of the company. Quarry LP acquired a new position in shares of DAQO New Energy in the 3rd quarter worth approximately $26,000. Headlands Technologies LLC acquired a new position in DAQO New Energy in the second quarter worth approximately $29,000. Farther Finance Advisors LLC increased its holdings in shares of DAQO New Energy by 1,650.0% in the fourth quarter. Farther Finance Advisors LLC now owns 1,330 shares of the semiconductor company’s stock valued at $39,000 after buying an additional 1,254 shares in the last quarter. Banque Cantonale Vaudoise acquired a new stake in shares of DAQO New Energy during the 4th quarter valued at $55,000. Finally, Pinpoint Asset Management Singapore Pte. Ltd. boosted its stake in shares of DAQO New Energy by 777.7% during the 3rd quarter. Pinpoint Asset Management Singapore Pte. Ltd. now owns 2,633 shares of the semiconductor company’s stock worth $74,000 after acquiring an additional 2,333 shares in the last quarter. 47.22% of the stock is owned by institutional investors and hedge funds.

DAQO New Energy Company Profile

DAQO New Energy Corp. operates as a leading manufacturer of high-purity polysilicon and monocrystalline silicon wafers for the global solar photovoltaic industry. The company focuses on serving module makers and integrated solar producers with critical upstream materials, applying proprietary technologies and optimized processes to achieve high product purity and consistently low production costs. Its core offerings include solar-grade polysilicon—used in the ingot casting and wafer slicing stages—and premium mono-silicon wafers, which are a key input for high-efficiency solar cell production.

Founded in the late 2000s and listed on the New York Stock Exchange in 2010, DAQO New Energy established its first polysilicon facility in China’s Xinjiang Uygur Autonomous Region.