DAQO New Energy Corp. (NYSE:DQ) Receives Average Rating of “Hold” from Brokerages

DAQO New Energy Corp. (NYSE:DQ) has earned an average rating of “Hold” from the seven ratings firms that are currently covering the firm, Marketbeat Ratings reports. Three equities research analysts have rated the stock with a sell recommendation, two have assigned a hold recommendation, one has assigned a buy recommendation and one has given a strong buy recommendation to the company. The average 1 year price target among brokers that have issued ratings on the stock in the last year is $23.5933.

DQ has been the subject of a number of recent research reports. Roth Mkm set a $19.00 price objective on DAQO New Energy in a report on Thursday, April 30th. Zacks Research lowered DAQO New Energy from a “hold” rating to a “strong sell” rating in a report on Monday, May 4th. Weiss Ratings lowered DAQO New Energy from a “sell (d-)” rating to a “sell (e+)” rating in a report on Wednesday, June 17th. Finally, Wall Street Zen lowered DAQO New Energy from a “hold” rating to a “strong sell” rating in a report on Saturday, May 2nd.

Institutional Trading of DAQO New Energy

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Continental General Insurance Co. increased its holdings in DAQO New Energy by 11.3% during the 3rd quarter. Continental General Insurance Co. now owns 6,641,986 shares of the semiconductor company’s stock worth $186,839,000 after purchasing an additional 675,784 shares in the last quarter. Vanguard Group Inc. increased its holdings in DAQO New Energy by 0.9% during the 4th quarter. Vanguard Group Inc. now owns 1,753,947 shares of the semiconductor company’s stock worth $51,741,000 after purchasing an additional 15,159 shares in the last quarter. Polunin Capital Partners Ltd boosted its stake in shares of DAQO New Energy by 13.6% in the 4th quarter. Polunin Capital Partners Ltd now owns 1,458,705 shares of the semiconductor company’s stock worth $43,032,000 after buying an additional 174,747 shares during the last quarter. Invesco Ltd. boosted its stake in shares of DAQO New Energy by 22.6% in the 4th quarter. Invesco Ltd. now owns 1,429,565 shares of the semiconductor company’s stock worth $42,172,000 after buying an additional 263,614 shares during the last quarter. Finally, Mackenzie Financial Corp boosted its stake in shares of DAQO New Energy by 9.1% in the 4th quarter. Mackenzie Financial Corp now owns 1,316,140 shares of the semiconductor company’s stock worth $38,934,000 after buying an additional 110,186 shares during the last quarter. 47.22% of the stock is owned by institutional investors.

DAQO New Energy Price Performance

Shares of DAQO New Energy stock opened at $13.08 on Friday. DAQO New Energy has a one year low of $12.82 and a one year high of $36.59. The firm has a market capitalization of $884.92 million, a price-to-earnings ratio of -4.70 and a beta of 0.61. The business has a 50-day simple moving average of $17.77 and a 200 day simple moving average of $22.82.

DAQO New Energy (NYSE:DQ) last issued its quarterly earnings data on Wednesday, April 29th. The semiconductor company reported ($1.31) EPS for the quarter, missing analysts’ consensus estimates of ($0.13) by ($1.18). The company had revenue of $26.72 million for the quarter, compared to the consensus estimate of $186.28 million. DAQO New Energy had a negative return on equity of 3.19% and a negative net margin of 32.92%. On average, sell-side analysts expect that DAQO New Energy will post -1.31 EPS for the current year.

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.