DAQO New Energy Corp. (NYSE:DQ) Stock Has Average Target Price of $15.83

Shares of DAQO New Energy Corp. (NYSE:DQ) have been given a consensus recommendation of “Reduce” by the six analysts that are currently covering the company, MarketBeat reports. Three analysts have rated the stock with a sell rating, two have issued a hold rating and one has given a buy rating to the company. The average 12-month target price among analysts that have covered the stock in the last year is $15.83.

Several brokerages recently issued reports on DQ. The Goldman Sachs Group cut DAQO New Energy from a “neutral” rating to a “sell” rating and set a $10.00 price target for the company. in a research note on Monday, August 24th. Weiss Ratings lowered DAQO New Energy from a “sell (d-)” rating to a “sell (e+)” rating in a research note on Monday. New Street Research set a $10.00 price objective on DAQO New Energy in a report on Monday, August 24th. Zacks Research upgraded DAQO New Energy from a “strong sell” rating to a “hold” rating in a research report on Tuesday, September 29th. Finally, JPMorgan Chase & Co. reduced their target price on DAQO New Energy from $35.50 to $22.00 and set an “overweight” rating on the stock in a report on Friday, July 31st.

DAQO New Energy Stock Performance

NYSE:DQ opened at $10.22 on Friday. DAQO New Energy has a 52 week low of $9.89 and a 52 week high of $36.59. The firm has a market cap of $691.59 million, a price-to-earnings ratio of -3.60 and a beta of 0.67. The firm’s 50-day simple moving average is $11.94 and its 200 day simple moving average is $14.63.

DAQO New Energy (NYSE:DQ) last posted its quarterly earnings data on Thursday, August 20th. The semiconductor company reported ($1.20) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.57) by ($0.63). DAQO New Energy had a negative net margin of 34.50% and a negative return on equity of 3.26%. The business had revenue of $62.66 million during the quarter, compared to the consensus estimate of $52.93 million. Sell-side analysts anticipate that DAQO New Energy will post -1.96 EPS for the current year.

Institutional Investors Weigh In On DAQO New Energy

Several institutional investors and hedge funds have recently bought and sold shares of DQ. Renaissance Technologies LLC bought a new position in DAQO New Energy in the 1st quarter valued at about $3,285,000. Cygnus Capital Advisors LLC bought a new stake in shares of DAQO New Energy during the 2nd quarter worth approximately $724,000. Nykredit A S bought a new stake in shares of DAQO New Energy during the 2nd quarter worth approximately $28,000. BTG Pactual Asset Management US LLC bought a new stake in shares of DAQO New Energy during the 2nd quarter worth approximately $224,000. Finally, Public Employees Retirement System of Ohio acquired a new stake in shares of DAQO New Energy during the 2nd quarter worth approximately $273,000. Institutional investors own 47.22% of the company’s stock.

DAQO New Energy Company Profile

Daqo New Energy Corp. (NYSE: DQ) is a China-based manufacturer of high-purity polysilicon, a key raw material used to produce solar photovoltaic wafers, cells and modules. Through its operating subsidiaries, the company produces polysilicon in grades used primarily for monocrystalline and multicrystalline solar applications.

The company’s production operations are located in China, including facilities in Xinjiang. Its products are supplied to manufacturers in the solar photovoltaic industry, primarily within China’s extensive solar manufacturing supply chain, with the company serving customers in other markets through industry sales and distribution relationships.

Daqo New Energy was founded in 2007 and completed its initial public offering on the New York Stock Exchange in 2010.