Roth Mkm Reiterates Neutral Rating for Daqo New Energy (NYSE:DQ)

Roth Mkm reaffirmed their neutral rating on shares of Daqo New Energy (NYSE:DQ) in a research note published on Tuesday morning, Benzinga reports. They currently have a $23.00 price objective on the semiconductor company’s stock.

Separately, Daiwa Capital Markets restated an underperform rating and issued a $25.00 target price on shares of Daqo New Energy in a report on Friday, March 15th. One research analyst has rated the stock with a sell rating, three have issued a hold rating and one has issued a buy rating to the company’s stock. According to MarketBeat, Daqo New Energy has an average rating of Hold and an average price target of $32.93.

Daqo New Energy Price Performance

Shares of NYSE DQ opened at $18.90 on Tuesday. The business has a 50-day moving average of $24.58 and a two-hundred day moving average of $23.72. The company has a market capitalization of $1.24 billion, a price-to-earnings ratio of 8.87 and a beta of 0.32. Daqo New Energy has a 1 year low of $17.30 and a 1 year high of $45.01.

Daqo New Energy (NYSE:DQ) last issued its earnings results on Monday, April 29th. The semiconductor company reported $0.24 earnings per share for the quarter, missing the consensus estimate of $0.56 by ($0.32). The business had revenue of $415.31 million for the quarter, compared to analyst estimates of $491.90 million. Daqo New Energy had a return on equity of 2.46% and a net margin of 7.84%. During the same period last year, the business posted $3.52 EPS. As a group, equities research analysts expect that Daqo New Energy will post 4.06 earnings per share for the current year.

Hedge Funds Weigh In On Daqo New Energy

A number of hedge funds have recently modified their holdings of the business. Franklin Resources Inc. grew its position in Daqo New Energy by 2.0% in the 4th quarter. Franklin Resources Inc. now owns 2,728,399 shares of the semiconductor company’s stock valued at $72,575,000 after buying an additional 53,860 shares during the last quarter. Mackenzie Financial Corp grew its stake in shares of Daqo New Energy by 23.8% during the fourth quarter. Mackenzie Financial Corp now owns 1,794,353 shares of the semiconductor company’s stock valued at $47,730,000 after acquiring an additional 344,616 shares in the last quarter. Invesco Ltd. lifted its stake in shares of Daqo New Energy by 6.9% in the third quarter. Invesco Ltd. now owns 1,658,153 shares of the semiconductor company’s stock worth $50,192,000 after acquiring an additional 107,235 shares in the last quarter. Oaktree Capital Management LP boosted its holdings in Daqo New Energy by 31.2% in the third quarter. Oaktree Capital Management LP now owns 1,350,410 shares of the semiconductor company’s stock valued at $40,877,000 after purchasing an additional 320,789 shares during the last quarter. Finally, Ariose Capital Management Ltd grew its stake in Daqo New Energy by 19.1% during the 1st quarter. Ariose Capital Management Ltd now owns 952,924 shares of the semiconductor company’s stock valued at $26,825,000 after purchasing an additional 152,800 shares in the last quarter. 47.22% of the stock is currently owned by hedge funds and other institutional investors.

Daqo New Energy Company Profile

Daqo New Energy Corp., together with its subsidiaries, manufactures and sells polysilicon to photovoltaic product manufacturers in the People's Republic of China. Its products are used in ingots, wafers, cells, and modules for solar power solutions. The company was formerly known as Mega Stand International Limited and changed its name to Daqo New Energy Corp.