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

by · The Markets Daily

Shares of Daqo New Energy Corp. (NYSE:DQ – Get Free Report) have been assigned a consensus recommendation of “Moderate Buy” from the eight research firms that are covering the firm, Marketbeat reports. Three equities research analysts have rated the stock with a hold recommendation, three have given a buy recommendation and two have given a strong buy recommendation to the company. The average twelve-month target price among brokers that have issued ratings on the stock in the last year is $22.26.

A number of research firms have recently issued reports on DQ. The Goldman Sachs Group began coverage on shares of Daqo New Energy in a research note on Thursday, July 11th. They issued a “buy” rating for the company. Daiwa America upgraded shares of Daqo New Energy to a “hold” rating in a research note on Wednesday, October 9th. Nomura Securities upgraded shares of Daqo New Energy to a “strong-buy” rating in a research note on Wednesday, August 28th. Roth Mkm cut their target price on shares of Daqo New Energy from $23.00 to $15.00 and set a “neutral” rating for the company in a research note on Wednesday, August 28th. Finally, Hsbc Global Res upgraded shares of Daqo New Energy from a “hold” rating to a “strong-buy” rating in a research note on Wednesday, October 2nd.

Get Our Latest Stock Report on Daqo New Energy

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of DQ. BNP Paribas Financial Markets grew its holdings in Daqo New Energy by 142.1% during the 1st quarter. BNP Paribas Financial Markets now owns 696,865 shares of the semiconductor company’s stock worth $19,617,000 after acquiring an additional 409,057 shares during the period. Quadrature Capital Ltd acquired a new stake in Daqo New Energy during the 4th quarter worth $471,000. Acadian Asset Management LLC acquired a new stake in Daqo New Energy during the 1st quarter worth $3,457,000. Jupiter Asset Management Ltd. acquired a new stake in Daqo New Energy during the 1st quarter worth $9,647,000. Finally, Sylebra Capital LLC grew its holdings in Daqo New Energy by 103.9% during the 2nd quarter. Sylebra Capital LLC now owns 943,692 shares of the semiconductor company’s stock worth $13,778,000 after acquiring an additional 480,980 shares during the period. Institutional investors own 47.22% of the company’s stock.

Daqo New Energy Stock Up 3.7 %

Shares of DQ opened at $19.70 on Tuesday. The stock has a market cap of $1.30 billion, a price-to-earnings ratio of 9.25 and a beta of 0.32. Daqo New Energy has a 12 month low of $13.62 and a 12 month high of $30.03. The company has a 50-day moving average price of $17.28 and a two-hundred day moving average price of $18.58.

Daqo New Energy (NYSE:DQ – Get Free Report) last announced its quarterly earnings results on Monday, August 26th. The semiconductor company reported ($1.81) EPS for the quarter, missing analysts’ consensus estimates of ($0.56) by ($1.25). The business had revenue of $219.91 million for the quarter, compared to the consensus estimate of $406.50 million. Daqo New Energy had a negative return on equity of 1.04% and a negative net margin of 4.11%. During the same quarter in the prior year, the business earned $1.34 EPS. Equities research analysts expect that Daqo New Energy will post -3.35 EPS for the current fiscal year.

Daqo New Energy declared that its board has authorized a stock repurchase program on Monday, July 22nd that authorizes the company to repurchase $100.00 million in shares. This repurchase authorization authorizes the semiconductor company to buy up to 8.6% of its stock through open market purchases. Stock repurchase programs are generally a sign that the company’s board of directors believes its stock is undervalued.

About Daqo New Energy

(Get Free Report

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.

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