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

DAQO New Energy Corp. (NYSE:DQ) has been assigned an average rating of “Hold” from the seven analysts that are currently covering the firm, MarketBeat Ratings reports. Three equities research analysts have rated the stock with a sell recommendation, two have issued a hold recommendation, one has issued a buy recommendation and one has given a strong buy recommendation to the company. The average twelve-month price target among brokerages that have updated their coverage on the stock in the last year is $23.5933.

Several research analysts have recently commented on the company. Weiss Ratings reiterated a “sell (d-)” rating on shares of DAQO New Energy in a report on Friday, March 27th. Wall Street Zen cut DAQO New Energy from a “hold” rating to a “strong sell” rating in a report on Saturday, May 2nd. Roth Mkm set a $19.00 price target on DAQO New Energy in a research report on Thursday, April 30th. Glj Research downgraded DAQO New Energy from a “buy” rating to a “sell” rating and lowered their price objective for the company from $30.51 to $18.13 in a research report on Tuesday, February 3rd. Finally, New Street Research set a $18.13 price objective on DAQO New Energy in a research note on Tuesday, February 3rd.

Institutional Investors Weigh In On DAQO New Energy

Institutional investors have recently added to or reduced their stakes in the company. Quarry LP bought a new stake in DAQO New Energy in the 3rd quarter worth $26,000. Headlands Technologies LLC bought a new position in shares of DAQO New Energy during the second quarter valued at about $29,000. Farther Finance Advisors LLC boosted its holdings in shares of DAQO New Energy by 1,650.0% during the fourth quarter. Farther Finance Advisors LLC now owns 1,330 shares of the semiconductor company’s stock worth $39,000 after purchasing an additional 1,254 shares during the period. Caitong International Asset Management Co. Ltd purchased a new stake in shares of DAQO New Energy during the fourth quarter worth about $49,000. Finally, Banque Cantonale Vaudoise bought a new stake in shares of DAQO New Energy in the fourth quarter worth about $55,000. Hedge funds and other institutional investors own 47.22% of the company’s stock.

DAQO New Energy Stock Performance

Shares of DAQO New Energy stock opened at $19.18 on Friday. DAQO New Energy has a 52-week low of $12.72 and a 52-week high of $36.59. The company has a fifty day moving average of $21.95 and a 200-day moving average of $26.47. The stock has a market capitalization of $1.30 billion, a price-to-earnings ratio of -6.90 and a beta of 0.66.

DAQO New Energy (NYSE:DQ) last posted its quarterly earnings results on Wednesday, April 29th. The semiconductor company reported ($1.31) earnings per share for the quarter, missing the consensus estimate of ($0.13) by ($1.18). DAQO New Energy had a negative return on equity of 3.19% and a negative net margin of 32.92%.The business had revenue of $26.72 million during the quarter, compared to the consensus estimate of $186.28 million. On average, equities research analysts forecast that DAQO New Energy will post -1.31 earnings per share for the current fiscal year.

About DAQO New Energy

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.