Daqo New Energy Corp (DQ) Receives $53.00 Consensus PT from Brokerages

Shares of Daqo New Energy Corp (NYSE:DQ) have been given a consensus rating of “Hold” by the six ratings firms that are currently covering the stock, Marketbeat reports. One analyst has rated the stock with a sell recommendation, two have assigned a hold recommendation and two have assigned a buy recommendation to the company. The average twelve-month price objective among brokerages that have issued a report on the stock in the last year is $53.00.

DQ has been the topic of several recent analyst reports. Zacks Investment Research upgraded shares of Daqo New Energy from a “strong sell” rating to a “hold” rating in a research note on Friday. Roth Capital upgraded shares of Daqo New Energy from a “neutral” rating to a “buy” rating and increased their target price for the stock from $40.00 to $48.00 in a research note on Wednesday, August 8th. TheStreet cut shares of Daqo New Energy from a “b-” rating to a “c+” rating in a research note on Wednesday, October 24th. ValuEngine cut shares of Daqo New Energy from a “hold” rating to a “sell” rating in a research note on Thursday, September 27th. Finally, Credit Suisse Group initiated coverage on shares of Daqo New Energy in a research note on Friday, August 24th. They issued an “outperform” rating and a $58.00 target price on the stock.

DQ opened at $25.62 on Wednesday. The company has a market capitalization of $295.14 million, a P/E ratio of 3.01 and a beta of 1.38. Daqo New Energy has a 12 month low of $20.43 and a 12 month high of $72.50. The company has a quick ratio of 1.06, a current ratio of 1.23 and a debt-to-equity ratio of 0.17.

Daqo New Energy (NYSE:DQ) last released its quarterly earnings data on Tuesday, August 7th. The semiconductor company reported $1.36 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.90 by $0.46. The company had revenue of $66.95 million during the quarter, compared to the consensus estimate of $62.70 million. Daqo New Energy had a net margin of 28.32% and a return on equity of 23.80%. On average, equities analysts expect that Daqo New Energy will post 2.64 earnings per share for the current year.

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. Bank of America Corp DE raised its position in shares of Daqo New Energy by 210.4% during the 2nd quarter. Bank of America Corp DE now owns 360,329 shares of the semiconductor company’s stock valued at $12,806,000 after buying an additional 244,237 shares in the last quarter. Luminus Management LLC purchased a new stake in shares of Daqo New Energy during the 2nd quarter valued at $8,601,000. Calamos Advisors LLC purchased a new stake in shares of Daqo New Energy during the 2nd quarter valued at $6,113,000. Millennium Management LLC raised its position in shares of Daqo New Energy by 82.3% during the 1st quarter. Millennium Management LLC now owns 193,878 shares of the semiconductor company’s stock valued at $9,490,000 after buying an additional 87,538 shares in the last quarter. Finally, BlackRock Inc. purchased a new stake in shares of Daqo New Energy during the 2nd quarter valued at $2,493,000. Institutional investors and hedge funds own 40.37% of the company’s stock.

Daqo New Energy Company Profile

Daqo New Energy Corp., together with its subsidiaries, manufactures and sells polysilicon and wafers in the People's Republic of China. It operates through two segments, Polysilicon and Wafers. The company offers polysilicon to photovoltaic product manufacturers who further process its polysilicon into ingots, wafers, cells, and modules for solar power solutions.

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