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

Shares of DAQO New Energy Corp. (NYSE:DQ) have received an average recommendation of “Hold” from the six brokerages that are covering the stock, MarketBeat Ratings reports. Two research analysts have rated the stock with a sell recommendation, two have issued a hold recommendation, one has given a buy recommendation and one has issued a strong buy recommendation on the company. The average 12 month price objective among brokers that have updated their coverage on the stock in the last year is $25.4267.

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

Institutional Trading of DAQO New Energy

A number of institutional investors have recently modified their holdings of DQ. Millennium Management LLC raised its stake in shares of DAQO New Energy by 1,261.0% during the 1st quarter. Millennium Management LLC now owns 354,596 shares of the semiconductor company’s stock worth $6,422,000 after acquiring an additional 328,541 shares in the last quarter. Goldman Sachs Group Inc. boosted its stake in DAQO New Energy by 117.2% in 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 acquiring an additional 625,900 shares in the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC boosted its stake in DAQO New Energy by 34.4% in the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 174,912 shares of the semiconductor company’s stock valued at $3,168,000 after acquiring an additional 44,780 shares in the last quarter. Mitsubishi UFJ Asset Management Co. Ltd. grew its holdings in DAQO New Energy by 39.1% in the second quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 31,364 shares of the semiconductor company’s stock worth $476,000 after purchasing an additional 8,815 shares during the last quarter. Finally, American Century Companies Inc. increased its position in shares of DAQO New Energy by 13.4% during the second quarter. American Century Companies Inc. now owns 250,201 shares of the semiconductor company’s stock worth $3,796,000 after purchasing an additional 29,578 shares in the last quarter. 47.22% of the stock is currently owned by institutional investors.

DAQO New Energy Stock Performance

NYSE:DQ opened at $23.45 on Friday. The firm has a 50-day simple moving average of $25.03 and a 200-day simple moving average of $27.87. DAQO New Energy has a one year low of $12.40 and a one year high of $36.59. The firm has a market cap of $1.57 billion, a P/E ratio of -9.23 and a beta of 0.68.

DAQO New Energy (NYSE:DQ) last released its quarterly earnings data on Thursday, February 26th. The semiconductor company reported ($0.11) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.04) by ($0.07). The business had revenue of $221.71 million for the quarter, compared to the consensus estimate of $276.94 million. DAQO New Energy had a negative net margin of 25.62% and a negative return on equity of 2.92%. On average, research analysts predict 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.