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

Shares of DAQO New Energy Corp. (NYSE:DQ) have received a consensus recommendation of “Moderate Buy” from the seven analysts that are covering the firm, MarketBeat reports. One equities research analyst has rated the stock with a sell recommendation, two have assigned a hold recommendation, three have assigned a buy recommendation and one has assigned a strong buy recommendation to the company. The average 12-month price objective among brokerages that have covered the stock in the last year is $27.0350.

A number of analysts recently issued reports on DQ shares. HSBC upgraded shares of DAQO New Energy from a “hold” rating to a “buy” rating and set a $31.00 price target for the company in a research note on Wednesday, August 27th. Hsbc Global Res raised shares of DAQO New Energy from a “hold” rating to a “strong-buy” rating in a research report on Wednesday, August 27th. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of DAQO New Energy in a research report on Monday, December 1st. Roth Capital set a $30.00 target price on DAQO New Energy and gave the stock a “neutral” rating in a report on Tuesday, October 28th. Finally, The Goldman Sachs Group set a $18.30 price target on DAQO New Energy and gave the company a “neutral” rating in a report on Wednesday, October 29th.

DAQO New Energy Stock Performance

NYSE:DQ opened at $31.39 on Wednesday. The stock has a market cap of $2.10 billion, a price-to-earnings ratio of -6.11 and a beta of 0.66. DAQO New Energy has a one year low of $12.40 and a one year high of $36.59. The business’s 50-day simple moving average is $29.89 and its 200 day simple moving average is $23.78.

DAQO New Energy (NYSE:DQ) last posted its quarterly earnings data on Monday, October 27th. The semiconductor company reported ($0.22) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.61) by $0.39. DAQO New Energy had a negative return on equity of 5.89% and a negative net margin of 53.74%.The company had revenue of $244.60 million for the quarter, compared to the consensus estimate of $176.78 million. On average, equities research analysts predict that DAQO New Energy will post -3.5 EPS for the current year.

DAQO New Energy declared that its board has approved a share repurchase program on Tuesday, August 26th that allows the company to repurchase $0.00 in shares. This repurchase authorization allows the semiconductor company to reacquire shares of its stock through open market purchases. Shares repurchase programs are usually an indication that the company’s board of directors believes its stock is undervalued.

Institutional Inflows and Outflows

Large investors have recently modified their holdings of the business. Quarry LP acquired a new position in shares of DAQO New Energy in the 3rd quarter valued at about $26,000. Headlands Technologies LLC bought a new position in DAQO New Energy in the second quarter worth about $29,000. Caitong International Asset Management Co. Ltd boosted its stake in DAQO New Energy by 86,700.0% in the first quarter. Caitong International Asset Management Co. Ltd now owns 1,736 shares of the semiconductor company’s stock valued at $31,000 after acquiring an additional 1,734 shares during the period. Pinpoint Asset Management Singapore Pte. Ltd. grew its holdings in shares of DAQO New Energy by 777.7% during the third quarter. Pinpoint Asset Management Singapore Pte. Ltd. now owns 2,633 shares of the semiconductor company’s stock valued at $74,000 after purchasing an additional 2,333 shares during the last quarter. Finally, Virtu Financial LLC bought a new position in shares of DAQO New Energy during the first quarter valued at approximately $187,000. 47.22% of the stock is currently owned by institutional investors.

About DAQO New Energy

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.