Daqo New Energy Corp. (NYSE:DQ) Given Consensus Recommendation of “Buy” by Brokerages

Daqo New Energy Corp. (NYSE:DQ) has been given an average recommendation of “Buy” by the eight analysts that are covering the firm, Marketbeat.com reports. One analyst has rated the stock with a hold rating, four have assigned a buy rating and three have assigned a strong buy rating to the company. The average 12 month price target among brokers that have issued ratings on the stock in the last year is $22.26.

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

Institutional Inflows and Outflows

Institutional investors have recently bought and sold shares of the business. Point72 Asset Management L.P. increased its position in Daqo New Energy by 67.5% in the 4th quarter. Point72 Asset Management L.P. now owns 886,655 shares of the semiconductor company’s stock valued at $17,237,000 after acquiring an additional 357,460 shares during the period. Point72 Europe London LLP purchased a new position in shares of Daqo New Energy in the 4th quarter valued at approximately $3,742,000. Point72 Hong Kong Ltd acquired a new position in shares of Daqo New Energy in the fourth quarter valued at approximately $3,287,000. Nuveen Asset Management LLC raised its stake in shares of Daqo New Energy by 16.7% during the fourth 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 purchased a new stake in shares of Daqo New Energy during the fourth quarter worth approximately $3,732,000. 47.22% of the stock is currently owned by institutional investors and hedge funds.

Daqo New Energy Stock Performance

DQ stock traded down $1.63 during midday trading on Monday, reaching $18.62. 872,534 shares of the company were exchanged, compared to its average volume of 814,257. Daqo New Energy has a 1-year low of $13.62 and a 1-year high of $30.85. The stock’s 50-day simple moving average is $19.82 and its 200 day simple moving average is $19.22. The company has a market cap of $1.23 billion, a price-to-earnings ratio of -10.06 and a beta of 0.25.

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 analysts’ consensus estimates of ($0.69) by ($2.02). Daqo New Energy had a negative net margin of 9.16% and a negative return on equity of 1.90%. The company had revenue of $195.36 million during the quarter, compared to analysts’ expectations of $153.54 million. On average, research analysts anticipate that Daqo New Energy will post -3.5 earnings per share 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.