Daqo New Energy Corp. (NYSE:DQ) Given Average Recommendation of "Buy" by Brokerages

Daqo New Energy Corp. (NYSE:DQ - Get Free Report) has been given a consensus rating of "Buy" by the eight ratings firms that are covering the firm, Marketbeat reports. One analyst has rated the stock with a hold rating, four have assigned a buy rating and three have issued a strong buy rating on the company. The average 1 year target price among brokers that have covered the stock in the last year is $22.26.

A number of research firms recently weighed in on DQ. Daiwa Capital Markets raised shares of Daqo New Energy from a "neutral" rating to an "outperform" rating in a research report on Wednesday, October 30th. HSBC upgraded Daqo New Energy from a "hold" rating to a "buy" rating in a report on Wednesday, October 2nd. Daiwa America raised Daqo New Energy from a "hold" rating to a "strong-buy" rating in a research report on Wednesday, October 30th. Hsbc Global Res upgraded Daqo New Energy from a "hold" rating to a "strong-buy" rating in a research note on Wednesday, October 2nd. Finally, StockNews.com upgraded Daqo New Energy to a "sell" rating in a research note on Monday, September 23rd.

Daqo New Energy Price Performance

DQ stock traded down $0.10 during trading hours on Friday, reaching $19.27. 1,380,719 shares of the stock were exchanged, compared to its average volume of 1,159,013. The firm's 50-day moving average is $20.33 and its 200-day moving average is $18.18. Daqo New Energy has a 12 month low of $13.62 and a 12 month high of $30.85. The company has a market cap of $1.27 billion, a price-to-earnings ratio of -10.42 and a beta of 0.28.

Daqo New Energy (NYSE:DQ - Get Free Report) last announced its earnings results on Wednesday, October 30th. The semiconductor company reported ($0.92) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of ($0.80) by ($0.12). The firm had revenue of $198.50 million during the quarter, compared to analyst estimates of $186.90 million. Daqo New Energy had a negative net margin of 9.16% and a negative return on equity of 1.90%. During the same period in the prior year, the business posted ($0.09) EPS. As a group, equities research analysts forecast that Daqo New Energy will post -3.5 earnings per share for the current year.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently made changes to their positions in the business. Waterfront Wealth Inc. boosted its holdings in shares of Daqo New Energy by 11.2% during the 2nd quarter. Waterfront Wealth Inc. now owns 103,893 shares of the semiconductor company's stock worth $1,517,000 after buying an additional 10,498 shares during the period. Rhumbline Advisers boosted its holdings in shares of Daqo New Energy by 22.2% during the second quarter. Rhumbline Advisers now owns 8,104 shares of the semiconductor company's stock worth $118,000 after acquiring an additional 1,470 shares during the period. Headlands Technologies LLC acquired a new position in shares of Daqo New Energy in the second quarter valued at approximately $398,000. American Century Companies Inc. increased its stake in shares of Daqo New Energy by 6.9% during the second quarter. American Century Companies Inc. now owns 170,368 shares of the semiconductor company's stock worth $2,487,000 after purchasing an additional 10,942 shares during the period. Finally, Hsbc Holdings PLC increased its stake in shares of Daqo New Energy by 47.9% during the second quarter. Hsbc Holdings PLC now owns 20,473 shares of the semiconductor company's stock worth $299,000 after purchasing an additional 6,628 shares during the period. 47.22% of the stock is currently owned by institutional investors.

Daqo New Energy Company Profile

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.