Analysts Set DAQO New Energy Corp. (NYSE:DQ) Target Price at $25.43

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

DQ has been the topic of several recent research reports. Wall Street Zen raised DAQO New Energy from a “sell” rating to a “hold” rating in a report on Monday, November 3rd. New Street Research set a $18.13 price objective on shares of DAQO New Energy in a research note on Tuesday, February 3rd. Weiss Ratings reiterated a “sell (d-)” rating on shares of DAQO New Energy in a research report on Monday, December 29th. The Goldman Sachs Group set a $18.30 price objective on DAQO New Energy and gave the company a “neutral” rating in a research report on Wednesday, October 29th. Finally, Glj Research cut DAQO New Energy from a “buy” rating to a “sell” rating and dropped their target price for the stock from $30.51 to $18.13 in a report on Tuesday, February 3rd.

Institutional Trading of DAQO New Energy

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Vident Advisory LLC purchased a new position in shares of DAQO New Energy during the fourth quarter worth approximately $349,000. Mackenzie Financial Corp boosted its holdings in shares of DAQO New Energy by 9.1% in the fourth quarter. Mackenzie Financial Corp now owns 1,316,140 shares of the semiconductor company’s stock valued at $38,934,000 after purchasing an additional 110,186 shares during the period. Voloridge Investment Management LLC grew its stake in DAQO New Energy by 38.6% in the fourth quarter. Voloridge Investment Management LLC now owns 328,300 shares of the semiconductor company’s stock worth $9,685,000 after purchasing an additional 91,459 shares in the last quarter. Progeny 3 Inc. increased its holdings in DAQO New Energy by 22.8% during the 4th quarter. Progeny 3 Inc. now owns 103,400 shares of the semiconductor company’s stock worth $3,050,000 after purchasing an additional 19,200 shares during the period. Finally, Millennium Management LLC increased its holdings in DAQO New Energy by 88.7% during the 4th quarter. Millennium Management LLC now owns 215,025 shares of the semiconductor company’s stock worth $6,343,000 after purchasing an additional 101,103 shares during the period. 47.22% of the stock is owned by hedge funds and other institutional investors.

DAQO New Energy Stock Down 0.1%

DQ opened at $24.23 on Monday. The company has a market capitalization of $1.62 billion, a PE ratio of -4.71 and a beta of 0.70. The firm has a 50-day simple moving average of $27.58 and a two-hundred day simple moving average of $27.73. DAQO New Energy has a 52 week low of $12.40 and a 52 week high of $36.59.

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.