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

Shares of DAQO New Energy Corp. (NYSE:DQ) have been given a consensus rating of “Hold” by the eight brokerages that are covering the company, MarketBeat reports. Three analysts have rated the stock with a sell recommendation, two have assigned a hold recommendation, two have issued a buy recommendation and one has given a strong buy recommendation to the company. The average twelve-month price objective among brokers that have updated their coverage on the stock in the last year is $22.3514.

A number of research analysts have commented on DQ shares. Wall Street Zen lowered DAQO New Energy from a “hold” rating to a “strong sell” rating in a report on Saturday, May 2nd. Zacks Research lowered DAQO New Energy from a “hold” rating to a “strong sell” rating in a research report on Friday, August 7th. The Goldman Sachs Group reiterated a “neutral” rating and set a $11.20 target price on shares of DAQO New Energy in a research report on Monday, July 27th. Roth Capital set a $19.00 target price on DAQO New Energy in a research report on Thursday, April 30th. Finally, JPMorgan Chase & Co. cut their price objective on DAQO New Energy from $35.50 to $22.00 and set an “overweight” rating on the stock in a research report on Friday, July 31st.

Institutional Investors Weigh In On DAQO New Energy

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Vanguard Group Inc. boosted its holdings in DAQO New Energy by 0.9% in the fourth quarter. Vanguard Group Inc. now owns 1,753,947 shares of the semiconductor company’s stock worth $51,741,000 after acquiring an additional 15,159 shares in the last quarter. Invesco Ltd. increased its holdings in shares of DAQO New Energy by 22.6% in the fourth quarter. Invesco Ltd. now owns 1,429,565 shares of the semiconductor company’s stock worth $42,172,000 after purchasing an additional 263,614 shares during the last quarter. Mackenzie Financial Corp boosted its position in shares of DAQO New Energy by 9.1% during the 4th quarter. Mackenzie Financial Corp now owns 1,316,140 shares of the semiconductor company’s stock valued at $38,934,000 after acquiring an additional 110,186 shares during the last quarter. Goldman Sachs Group Inc. increased its position in shares of DAQO New Energy by 117.2% during the 1st quarter. Goldman Sachs Group Inc. now owns 1,159,835 shares of the semiconductor company’s stock valued at $21,005,000 after purchasing an additional 625,900 shares during the last quarter. Finally, Arrowstreet Capital Limited Partnership purchased a new stake in DAQO New Energy during the 3rd quarter valued at $18,280,000. 47.22% of the stock is currently owned by institutional investors.

DAQO New Energy Trading Down 1.9%

NYSE DQ opened at $14.64 on Monday. DAQO New Energy has a 1-year low of $11.38 and a 1-year high of $36.59. The company has a 50 day moving average of $13.23 and a 200-day moving average of $18.66. The firm has a market cap of $990.69 million, a price-to-earnings ratio of -5.27 and a beta of 0.66.

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.