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

Shares of DAQO New Energy Corp. (NYSE:DQ) have been given an average rating of “Hold” by the eight ratings firms that are presently covering the firm, MarketBeat reports. Two research analysts have rated the stock with a sell rating, three have issued a hold rating, two have assigned a buy rating and one has assigned a strong buy rating to the company. The average 12-month price objective among brokers that have issued ratings on the stock in the last year is $22.3514.

A number of research analysts have commented on the company. Wall Street Zen cut DAQO New Energy from a “hold” rating to a “strong sell” rating in a research note on Saturday, May 2nd. Zacks Research upgraded DAQO New Energy from a “strong sell” rating to a “hold” rating in a research note on Monday, June 29th. Roth Capital set a $19.00 price target on shares of DAQO New Energy in a research report on Thursday, April 30th. Weiss Ratings lowered shares of DAQO New Energy from a “sell (d-)” rating to a “sell (e+)” rating in a research note on Friday, July 24th. Finally, JPMorgan Chase & Co. cut their price target on shares of DAQO New Energy from $35.50 to $22.00 and set an “overweight” rating on the stock in a report on Friday, July 31st.

Institutional Investors Weigh In On DAQO New Energy

Institutional investors have recently modified their holdings of the stock. Vanguard Group Inc. lifted its position in shares of DAQO New Energy by 0.9% during the fourth quarter. Vanguard Group Inc. now owns 1,753,947 shares of the semiconductor company’s stock worth $51,741,000 after purchasing an additional 15,159 shares during the last quarter. Invesco Ltd. increased its holdings in DAQO New Energy by 22.6% in the fourth quarter. Invesco Ltd. now owns 1,429,565 shares of the semiconductor company’s stock valued at $42,172,000 after buying an additional 263,614 shares during the last quarter. Mackenzie Financial Corp raised its stake in DAQO New Energy by 9.1% during the fourth quarter. Mackenzie Financial Corp now owns 1,316,140 shares of the semiconductor company’s stock valued at $38,934,000 after buying an additional 110,186 shares in the last quarter. Goldman Sachs Group Inc. raised its stake in DAQO New Energy by 117.2% during the first quarter. Goldman Sachs Group Inc. now owns 1,159,835 shares of the semiconductor company’s stock valued at $21,005,000 after buying an additional 625,900 shares in the last quarter. Finally, Arrowstreet Capital Limited Partnership bought a new position in DAQO New Energy during the 3rd quarter worth approximately $18,280,000. Institutional investors and hedge funds own 47.22% of the company’s stock.

DAQO New Energy Trading Up 0.3%

NYSE:DQ opened at $14.77 on Monday. The firm’s fifty day simple moving average is $13.41 and its 200 day simple moving average is $18.99. DAQO New Energy has a twelve month low of $11.38 and a twelve month high of $36.59. The firm has a market capitalization of $999.42 million, a price-to-earnings ratio of -5.31 and a beta of 0.66.

About DAQO New Energy

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.