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

Daqo New Energy Corp. (NYSE:DQ - Get Free Report) has been assigned an average recommendation of "Buy" from the eight research firms that are currently covering the stock, 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 analysts that have issued ratings on the stock in the last year is $22.26.

Several research firms recently weighed in on DQ. Jefferies Financial Group cut their price target on Daqo New Energy from $38.40 to $34.05 and set a "buy" rating on the stock in a research note on Monday, August 26th. Daiwa America upgraded Daqo New Energy from a "hold" rating to a "strong-buy" rating in a research note on Wednesday, October 30th. HSBC upgraded Daqo New Energy from a "hold" rating to a "buy" rating in a research report on Wednesday, October 2nd. Roth Mkm reduced their price objective 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 raised Daqo New Energy from a "hold" rating to a "strong-buy" rating in a report on Wednesday, October 2nd.

Daqo New Energy Price Performance

DQ traded down $1.65 during midday trading on Wednesday, reaching $20.00. 822,642 shares of the company's stock traded hands, compared to its average volume of 1,168,232. Daqo New Energy has a 52 week low of $13.62 and a 52 week high of $30.85. The firm has a fifty day moving average of $21.01 and a two-hundred day moving average of $18.48. The stock has a market capitalization of $1.32 billion, a price-to-earnings ratio of -10.91 and a beta of 0.28.

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

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Blue Trust Inc. raised its position in Daqo New Energy by 12,187.5% in the 2nd quarter. Blue Trust Inc. now owns 1,966 shares of the semiconductor company's stock worth $29,000 after purchasing an additional 1,950 shares during the period. Signaturefd LLC raised its holdings in shares of Daqo New Energy by 27.3% in the third quarter. Signaturefd LLC now owns 2,809 shares of the semiconductor company's stock worth $57,000 after buying an additional 602 shares during the period. AXA S.A. lifted its stake in shares of Daqo New Energy by 202.3% during the 2nd quarter. AXA S.A. now owns 6,387 shares of the semiconductor company's stock worth $93,000 after acquiring an additional 4,274 shares during the last quarter. Rhumbline Advisers boosted its holdings in Daqo New Energy by 22.2% during the 2nd quarter. Rhumbline Advisers now owns 8,104 shares of the semiconductor company's stock valued at $118,000 after acquiring an additional 1,470 shares during the period. Finally, Harel Insurance Investments & Financial Services Ltd. boosted its holdings in Daqo New Energy by 37.9% during the 2nd quarter. Harel Insurance Investments & Financial Services Ltd. now owns 14,442 shares of the semiconductor company's stock valued at $211,000 after acquiring an additional 3,970 shares during the period. Hedge funds and other institutional investors own 47.22% of the company's stock.

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.