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

DAQO New Energy Corp. (NYSE:DQ) has received a consensus recommendation of “Hold” from the six brokerages that are covering the company, Marketbeat Ratings reports. Two equities research analysts have rated the stock with a sell recommendation, two have assigned a hold recommendation, one has given a buy recommendation and one has given a strong buy recommendation to the company. The average 1 year target price among brokerages that have issued a report on the stock in the last year is $25.4267.

Several equities research analysts have weighed in on DQ shares. Weiss Ratings reiterated a “sell (d-)” rating on shares of DAQO New Energy in a report on Monday, December 29th. New Street Research set a $18.13 target price on DAQO New Energy in a report on Tuesday, February 3rd. Finally, Glj Research lowered DAQO New Energy from a “buy” rating to a “sell” rating and dropped their price target for the stock from $30.51 to $18.13 in a research note on Tuesday, February 3rd.

Hedge Funds Weigh In On DAQO New Energy

Institutional investors have recently bought and sold shares of the stock. Quarry LP bought a new stake in DAQO New Energy during the 3rd quarter valued at approximately $26,000. Headlands Technologies LLC purchased a new position in shares of DAQO New Energy during the 2nd quarter worth approximately $29,000. Farther Finance Advisors LLC raised its position in shares of DAQO New Energy by 1,650.0% in the 4th quarter. Farther Finance Advisors LLC now owns 1,330 shares of the semiconductor company’s stock worth $39,000 after acquiring an additional 1,254 shares in the last quarter. Caitong International Asset Management Co. Ltd bought a new position in shares of DAQO New Energy in the 4th quarter worth approximately $49,000. Finally, Banque Cantonale Vaudoise purchased a new position in shares of DAQO New Energy in the 4th quarter valued at approximately $55,000. 47.22% of the stock is owned by institutional investors.

DAQO New Energy Trading Down 5.1%

Shares of NYSE:DQ opened at $21.05 on Friday. The company has a 50-day moving average price of $24.42 and a 200-day moving average price of $27.83. The company has a market cap of $1.41 billion, a price-to-earnings ratio of -8.29 and a beta of 0.68. DAQO New Energy has a 12 month low of $12.40 and a 12 month high of $36.59.

DAQO New Energy (NYSE:DQ) last posted its earnings results on Thursday, February 26th. The semiconductor company reported ($0.11) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.04) by ($0.07). DAQO New Energy had a negative return on equity of 2.92% and a negative net margin of 25.62%.The business had revenue of $221.71 million during the quarter, compared to the consensus estimate of $276.94 million. As a group, research analysts forecast that DAQO New Energy will post -3.5 EPS for the current fiscal 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.