Analysts Set Daqo New Energy Corp. (NYSE:DQ) Price Target at $22.26

Daqo New Energy Corp. (NYSE:DQ - Get Free Report) has received an average recommendation of "Buy" from the eight ratings firms that are covering the company, MarketBeat Ratings reports. One analyst has rated the stock with a hold recommendation, four have issued a buy recommendation and three have issued a strong buy recommendation on the company. The average twelve-month price objective among brokerages that have issued ratings 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 research note on Tuesday, March 18th.

Daqo New Energy Stock Down 0.2 %

Shares of Daqo New Energy stock traded down $0.03 during trading on Friday, hitting $18.08. 908,150 shares of the stock traded hands, compared to its average volume of 1,026,008. The stock has a market cap of $1.19 billion, a price-to-earnings ratio of -9.77 and a beta of 0.41. Daqo New Energy has a 52 week low of $13.62 and a 52 week high of $30.85. The firm's fifty day moving average is $19.54 and its 200-day moving average is $19.80.

Daqo New Energy (NYSE:DQ - Get Free Report) last issued its quarterly 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). The business had revenue of $195.36 million for the quarter, compared to the consensus estimate of $153.54 million. Daqo New Energy had a negative net margin of 9.16% and a negative return on equity of 1.90%. On average, analysts forecast that Daqo New Energy will post -3.5 earnings per share for the current fiscal year.

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Institutional Investors Weigh In On Daqo New Energy

Institutional investors have recently added to or reduced their stakes in the company. Point72 Asset Management L.P. raised its position in Daqo New Energy by 67.5% during 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 purchasing an additional 357,460 shares during the last quarter. Point72 Europe London LLP bought a new position in shares of Daqo New Energy during the fourth quarter valued at approximately $3,742,000. Point72 Hong Kong Ltd bought a new position in shares of Daqo New Energy during the fourth quarter valued at approximately $3,287,000. Nuveen Asset Management LLC lifted its stake in Daqo New Energy by 16.7% in the fourth quarter. Nuveen Asset Management LLC now owns 39,200 shares of the semiconductor company's stock worth $762,000 after acquiring an additional 5,600 shares during the period. Finally, DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main bought a new stake in Daqo New Energy in the fourth quarter valued at $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.