Daqo New Energy Corp. (NYSE:DQ) Receives Consensus Recommendation of "Buy" from Analysts

Daqo New Energy Corp. (NYSE:DQ - Get Free Report) has received an average recommendation of "Buy" from the eight research firms that are currently covering the stock, MarketBeat.com reports. One research analyst has rated the stock with a hold rating, four have issued a buy rating and three have given a strong buy rating to the company. The average 1-year price objective among brokerages that have updated their coverage on the stock in the last year is $22.26.

Separately, StockNews.com raised shares of Daqo New Energy to a "sell" rating in a report on Monday.

Daqo New Energy Trading Up 0.8 %

Shares of NYSE DQ traded up $0.15 during midday trading on Monday, reaching $19.07. The company had a trading volume of 832,454 shares, compared to its average volume of 825,294. The business's 50-day simple moving average is $19.84 and its 200 day simple moving average is $19.26. The stock has a market cap of $1.26 billion, a P/E ratio of -10.31 and a beta of 0.41. Daqo New Energy has a 1 year low of $13.62 and a 1 year high of $30.85.

Daqo New Energy (NYSE:DQ - Get Free Report) last issued its earnings results on Thursday, February 27th. The semiconductor company reported ($2.71) earnings per share (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 analysts' expectations of $153.54 million. Analysts predict that Daqo New Energy will post -3.5 earnings per share for the current year.

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Institutional Trading of Daqo New Energy

A number of institutional investors and hedge funds have recently modified their holdings of the stock. Point72 Asset Management L.P. increased its stake in shares of Daqo New Energy by 67.5% during the fourth 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 in the last quarter. Point72 Europe London LLP purchased a new stake in shares of Daqo New Energy during the fourth quarter worth about $3,742,000. Point72 Hong Kong Ltd purchased a new stake in shares of Daqo New Energy during the fourth quarter worth about $3,287,000. Nuveen Asset Management LLC increased 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 in 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 about $3,732,000. Hedge funds and other institutional investors own 47.22% of the company's stock.

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.