Daqo New Energy Corp. (NYSE:DQ) Receives $22.26 Average Price Target from Analysts

Daqo New Energy Corp. (NYSE:DQ) has earned an average rating of “Buy” from the eight analysts that are currently covering the stock, Marketbeat Ratings reports. One equities research analyst has rated the stock with a hold rating, four have issued a buy rating and three have assigned a strong buy rating to the company. The average 1 year target price among analysts that have updated their coverage on the stock in the last year is $22.26.

Separately, StockNews.com upgraded shares of Daqo New Energy to a “sell” rating in a research report on Monday, March 3rd.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in the company. Point72 Asset Management L.P. raised its holdings in Daqo New Energy by 67.5% during the 4th quarter. Point72 Asset Management L.P. now owns 886,655 shares of the semiconductor company’s stock worth $17,237,000 after purchasing an additional 357,460 shares during the last quarter. Point72 Europe London LLP bought a new position in Daqo New Energy during the 4th quarter worth approximately $3,742,000. Point72 Hong Kong Ltd bought a new position in Daqo New Energy during the 4th quarter worth approximately $3,287,000. Nuveen Asset Management LLC raised its holdings in Daqo New Energy by 16.7% during the 4th quarter. Nuveen Asset Management LLC now owns 39,200 shares of the semiconductor company’s stock worth $762,000 after purchasing an additional 5,600 shares during the last quarter. Finally, DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main bought a new position in Daqo New Energy during the 4th quarter worth approximately $3,732,000. Institutional investors own 47.22% of the company’s stock.

Daqo New Energy Trading Up 0.8 %

DQ opened at $19.07 on Monday. The company’s 50 day moving average is $19.84 and its 200-day moving average is $19.33. Daqo New Energy has a 1-year low of $13.62 and a 1-year high of $30.85. The company has a market cap of $1.26 billion, a P/E ratio of -10.31 and a beta of 0.41.

Daqo New Energy (NYSE:DQ) last posted its earnings results on Thursday, February 27th. The semiconductor company reported ($2.71) EPS for the quarter, missing the consensus estimate of ($0.69) by ($2.02). Daqo New Energy had a negative return on equity of 1.90% and a negative net margin of 9.16%. The business had revenue of $195.36 million for the quarter, compared to analyst estimates of $153.54 million. On average, equities analysts forecast that Daqo New Energy will post -3.5 EPS for the current year.

About Daqo New Energy

Daqo New Energy Corp., together with its subsidiaries, manufactures and sells polysilicon to photovoltaic product manufacturers in the People's Republic of China. Its products are used in ingots, wafers, cells, and modules for solar power solutions. The company was formerly known as Mega Stand International Limited and changed its name to Daqo New Energy Corp.