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

Daqo New Energy Corp. (NYSE:DQ - Get Free Report) has been assigned an average rating of "Buy" from the eight research firms that are covering the company, Marketbeat reports. One investment analyst has rated the stock with a hold rating, four have given a buy rating and three have assigned a strong buy rating to the company. The average 12 month price objective among brokerages that have issued ratings on the stock in the last year is $22.26.

A number of brokerages recently weighed in on DQ. Daiwa America raised Daqo New Energy from a "hold" rating to a "strong-buy" rating in a research report on Wednesday, October 30th. HSBC raised shares of Daqo New Energy from a "hold" rating to a "buy" rating in a research report on Wednesday, October 2nd. Jefferies Financial Group decreased their target price on shares of Daqo New Energy from $38.40 to $34.05 and set a "buy" rating for the company in a research report on Monday, August 26th. Nomura Securities raised shares of Daqo New Energy to a "strong-buy" rating in a report on Wednesday, August 28th. Finally, StockNews.com upgraded Daqo New Energy to a "sell" rating in a report on Monday, September 23rd.

Institutional Investors Weigh In On Daqo New Energy

Institutional investors have recently modified their holdings of the business. Mirae Asset Global Investments Co. Ltd. grew its stake in Daqo New Energy by 15.4% in the 1st quarter. Mirae Asset Global Investments Co. Ltd. now owns 125,425 shares of the semiconductor company's stock valued at $3,531,000 after acquiring an additional 16,710 shares during the period. Daiwa Securities Group Inc. acquired a new position in shares of Daqo New Energy during the 1st quarter worth about $256,000. Jupiter Asset Management Ltd. purchased a new position in Daqo New Energy in the 1st quarter valued at about $9,647,000. Acadian Asset Management LLC purchased a new position in Daqo New Energy in the 1st quarter valued at about $3,457,000. Finally, Shell Asset Management Co. boosted its holdings in Daqo New Energy by 20.6% in the 1st quarter. Shell Asset Management Co. now owns 10,734 shares of the semiconductor company's stock worth $302,000 after buying an additional 1,834 shares during the last quarter. 47.22% of the stock is currently owned by institutional investors and hedge funds.

Daqo New Energy Price Performance

DQ stock traded down $0.93 during mid-day trading on Friday, reaching $21.70. The company had a trading volume of 1,147,174 shares, compared to its average volume of 2,364,117. The company has a market capitalization of $1.43 billion, a PE ratio of -11.73 and a beta of 0.32. The firm has a 50 day moving average of $19.53 and a 200 day moving average of $18.47. Daqo New Energy has a 12 month low of $13.62 and a 12 month high of $30.85.

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

Daqo New Energy announced that its Board of Directors has initiated a share buyback program on Monday, July 22nd that permits the company to buyback $100.00 million in outstanding shares. This buyback authorization permits the semiconductor company to repurchase up to 8.6% of its shares through open market purchases. Shares buyback programs are usually a sign that the company's board believes its stock is undervalued.

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.