DAQO New Energy Corp. (DQ) Upgraded at Zacks Investment Research
Zacks Investment Research upgraded shares of DAQO New Energy Corp. (NYSE:DQ) from a hold rating to a buy rating in a research note released on Friday morning. Zacks Investment Research currently has $33.00 price objective on the semiconductor company’s stock.
According to Zacks, “Daqo New Energy Corp. is engaged in the manufacture and sale of high-quality polysilicon to photovoltaic product manufacturers. The polysilicon is further processed into ingots, wafers, cells and modules for solar power solutions. Daqo New Energy Corp., formerly known as Mega Stand International Limited, is headquartered in Wanzhou, The People’s Republic of China. “
Several other equities analysts also recently weighed in on DQ. Roth Capital set a $35.00 price target on shares of DAQO New Energy Corp. and gave the stock a buy rating in a report on Monday, June 26th. BidaskClub raised shares of DAQO New Energy Corp. from a sell rating to a hold rating in a research report on Monday, July 24th. Finally, ValuEngine upgraded shares of DAQO New Energy Corp. from a buy rating to a strong-buy rating in a research note on Friday, September 1st. One analyst has rated the stock with a hold rating, three have issued a buy rating and one has given a strong buy rating to the stock. DAQO New Energy Corp. currently has a consensus rating of Buy and a consensus target price of $36.00.
DAQO New Energy Corp. (NYSE DQ) opened at 28.88 on Friday. DAQO New Energy Corp. has a 52 week low of $18.01 and a 52 week high of $30.80. The stock has a market cap of $304.08 million, a PE ratio of 6.03 and a beta of 1.86. The stock’s 50 day moving average is $26.59 and its 200 day moving average is $22.65.
DAQO New Energy Corp. (NYSE:DQ) last announced its quarterly earnings data on Tuesday, August 8th. The semiconductor company reported $1.19 earnings per share for the quarter, missing analysts’ consensus estimates of $1.38 by ($0.19). DAQO New Energy Corp. had a net margin of 19.35% and a return on equity of 18.90%. The firm had revenue of $76.00 million during the quarter, compared to analyst estimates of $71.80 million. During the same period in the prior year, the company posted $1.87 earnings per share. Analysts predict that DAQO New Energy Corp. will post $5.88 EPS for the current year.
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Several hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Public Employees Retirement System of Ohio lifted its holdings in shares of DAQO New Energy Corp. by 264.5% in the 2nd quarter. Public Employees Retirement System of Ohio now owns 7,767 shares of the semiconductor company’s stock valued at $161,000 after buying an additional 5,636 shares during the period. Trexquant Investment LP purchased a new stake in shares of DAQO New Energy Corp. in the first quarter worth about $196,000. ClariVest Asset Management LLC boosted its stake in shares of DAQO New Energy Corp. by 5.4% in the first quarter. ClariVest Asset Management LLC now owns 10,713 shares of the semiconductor company’s stock worth $201,000 after buying an additional 546 shares during the last quarter. Dynamic Technology Lab Private Ltd purchased a new stake in shares of DAQO New Energy Corp. in the second quarter worth about $210,000. Finally, State of Wisconsin Investment Board purchased a new stake in shares of DAQO New Energy Corp. in the first quarter worth about $217,000. Institutional investors and hedge funds own 28.39% of the company’s stock.
DAQO New Energy Corp. Company Profile
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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