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

Shares of Daqo New Energy Corp. (NYSE:DQ - Get Free Report) have been given an average rating of "Buy" by the eight ratings firms that are currently covering the firm, MarketBeat.com reports. One analyst has rated the stock with a hold recommendation, four have given a buy recommendation and three have given a strong buy recommendation to the company. The average twelve-month price target among brokerages that have covered the stock in the last year is $22.26.

A number of equities analysts have recently issued reports on the company. Daiwa Capital Markets upgraded Daqo New Energy from a "neutral" rating to an "outperform" rating in a report on Wednesday, October 30th. Daiwa America raised Daqo New Energy from a "hold" rating to a "strong-buy" rating in a research note on Wednesday, October 30th. HSBC raised Daqo New Energy from a "hold" rating to a "buy" rating in a research note on Wednesday, October 2nd. Finally, Hsbc Global Res raised Daqo New Energy from a "hold" rating to a "strong-buy" rating in a research report on Wednesday, October 2nd.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in DQ. Sylebra Capital LLC lifted its stake in Daqo New Energy by 103.9% in the second quarter. Sylebra Capital LLC now owns 943,692 shares of the semiconductor company's stock worth $13,778,000 after purchasing an additional 480,980 shares during the last quarter. Marshall Wace LLP lifted its stake in Daqo New Energy by 112.3% in the second quarter. Marshall Wace LLP now owns 322,635 shares of the semiconductor company's stock worth $4,710,000 after purchasing an additional 170,660 shares during the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its stake in shares of Daqo New Energy by 32.2% during the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 135,732 shares of the semiconductor company's stock valued at $2,765,000 after acquiring an additional 33,031 shares in the last quarter. Public Employees Retirement System of Ohio bought a new stake in shares of Daqo New Energy during the third quarter valued at approximately $1,053,000. Finally, BNP Paribas Financial Markets raised its stake in shares of Daqo New Energy by 57.5% during the third quarter. BNP Paribas Financial Markets now owns 74,571 shares of the semiconductor company's stock valued at $1,519,000 after acquiring an additional 27,223 shares in the last quarter. Hedge funds and other institutional investors own 47.22% of the company's stock.

Daqo New Energy Stock Down 0.7 %

NYSE:DQ traded down $0.12 during trading hours on Thursday, hitting $17.38. 387,365 shares of the company's stock traded hands, compared to its average volume of 743,335. The firm has a market cap of $1.15 billion, a P/E ratio of -9.37 and a beta of 0.26. Daqo New Energy has a 52 week low of $13.62 and a 52 week high of $30.85. The business's fifty day simple moving average is $19.25 and its two-hundred day simple moving average is $18.52.

Daqo New Energy (NYSE:DQ - Get Free Report) last posted its quarterly earnings data on Wednesday, October 30th. The semiconductor company reported ($0.92) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.80) by ($0.12). The business had revenue of $198.50 million for the quarter, compared to the consensus estimate 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. On average, analysts expect that Daqo New Energy will post -3.5 EPS for the current year.

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.