According to Zacks, “Daqo New Energy Corp. is engaged in the manufacture and sale of high-quality polysilicon to photovoltaic product manufacturers. The polysilicon is further processed into ingots, wafers, cells and modules for solar power solutions. Daqo New Energy Corp., formerly known as Mega Stand International Limited, is headquartered in Wanzhou, The People’s Republic of China. “
A number of other brokerages have also weighed in on DQ. Roth Capital restated a buy rating on shares of Daqo New Energy in a research note on Wednesday, August 14th. ValuEngine upgraded Daqo New Energy from a hold rating to a buy rating in a research note on Monday, June 3rd. One research analyst has rated the stock with a sell rating and three have assigned a buy rating to the company’s stock. The stock presently has a consensus rating of Buy and a consensus target price of $43.50.
Daqo New Energy (NYSE:DQ) last issued its quarterly earnings data on Wednesday, August 14th. The semiconductor company reported ($0.20) earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of ($0.11) by ($0.09). The company had revenue of $65.96 million for the quarter, compared to the consensus estimate of $69.80 million. Daqo New Energy had a negative net margin of 0.85% and a positive return on equity of 5.57%. During the same period in the previous year, the business posted $1.36 earnings per share. Analysts predict that Daqo New Energy will post 1.86 earnings per share for the current year.
Large investors have recently made changes to their positions in the company. BlackRock Inc. grew its position in shares of Daqo New Energy by 8.7% during the fourth quarter. BlackRock Inc. now owns 78,519 shares of the semiconductor company’s stock worth $1,838,000 after acquiring an additional 6,293 shares during the last quarter. Bank of Montreal Can bought a new position in Daqo New Energy in the 1st quarter valued at about $144,000. Advisors Preferred LLC bought a new position in Daqo New Energy in the 1st quarter valued at about $179,000. Blackhawk Capital Partners LLC. bought a new position in Daqo New Energy in the 1st quarter valued at about $280,000. Finally, Shell Asset Management Co. bought a new position in Daqo New Energy in the 1st quarter valued at about $112,000. Institutional investors own 33.74% of the company’s stock.
About Daqo New Energy
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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