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

Shares of DAQO New Energy Corp. (NYSE:DQ) have received an average recommendation of “Hold” from the seven ratings firms that are covering the stock, Marketbeat.com reports. Three research analysts have rated the stock with a sell recommendation, two have assigned a hold recommendation, one has assigned 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 $23.5933.

DQ has been the topic of a number of recent research reports. Wall Street Zen cut shares of DAQO New Energy from a “hold” rating to a “strong sell” rating in a research report on Saturday, May 2nd. Roth Mkm set a $19.00 price target on shares of DAQO New Energy in a research report on Thursday, April 30th. Weiss Ratings cut shares of DAQO New Energy from a “sell (d-)” rating to a “sell (e+)” rating in a research report on Wednesday. Finally, Zacks Research cut shares of DAQO New Energy from a “hold” rating to a “strong sell” rating in a research report on Monday, May 4th.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. Continental General Insurance Co. lifted its position in DAQO New Energy by 11.3% during the third quarter. Continental General Insurance Co. now owns 6,641,986 shares of the semiconductor company’s stock valued at $186,839,000 after buying an additional 675,784 shares in the last quarter. 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 in the last quarter. Polunin Capital Partners Ltd lifted its position in shares of DAQO New Energy by 13.6% during the fourth quarter. Polunin Capital Partners Ltd now owns 1,458,705 shares of the semiconductor company’s stock worth $43,032,000 after purchasing an additional 174,747 shares in the last quarter. Invesco Ltd. lifted its position in shares of DAQO New Energy by 22.6% during 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 in the last quarter. Finally, Mackenzie Financial Corp lifted its position in shares of 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 worth $38,934,000 after purchasing an additional 110,186 shares in the last quarter. 47.22% of the stock is owned by institutional investors and hedge funds.

DAQO New Energy Stock Down 0.1%

Shares of DQ stock opened at $14.17 on Friday. The stock has a market cap of $958.49 million, a price-to-earnings ratio of -5.10 and a beta of 0.61. DAQO New Energy has a fifty-two week low of $13.66 and a fifty-two week high of $36.59. The firm’s 50 day moving average price is $18.38 and its two-hundred day moving average price is $23.40.

DAQO New Energy (NYSE:DQ) last announced its quarterly earnings results on Wednesday, April 29th. The semiconductor company reported ($1.31) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.13) by ($1.18). The business had revenue of $26.72 million for the quarter, compared to analyst estimates of $186.28 million. DAQO New Energy had a negative net margin of 32.92% and a negative return on equity of 3.19%. On average, equities analysts forecast that DAQO New Energy will post -1.31 EPS for the current fiscal year.

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.