Daqo New Energy (NYSE:DQ) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a research report issued to clients and investors on Tuesday, February 27th. The firm presently has a $64.00 price target on the semiconductor company’s stock. Zacks Investment Research‘s target price suggests a potential upside of 41.72% from the stock’s current price.
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. “
Other equities analysts have also recently issued research reports about the stock. TheStreet upgraded shares of Daqo New Energy from a “c+” rating to a “b” rating in a research note on Wednesday, November 15th. Roth Capital set a $65.00 price target on shares of Daqo New Energy and gave the stock a “buy” rating in a research note on Monday, December 4th. Finally, Tudor Pickering cut shares of Daqo New Energy from a “buy” rating to a “hold” rating in a research note on Monday, February 26th. Two analysts have rated the stock with a hold rating, two have given a buy rating and one has assigned a strong buy rating to the stock. The company presently has an average rating of “Buy” and a consensus price target of $64.50.
Shares of Daqo New Energy (NYSE DQ) traded up $0.15 during trading on Tuesday, reaching $45.16. 234,740 shares of the company’s stock were exchanged, compared to its average volume of 425,859. Daqo New Energy has a fifty-two week low of $18.01 and a fifty-two week high of $72.50. The stock has a market cap of $495.20, a P/E ratio of 5.33, a P/E/G ratio of 1.14 and a beta of 1.70. The company has a current ratio of 0.66, a quick ratio of 0.57 and a debt-to-equity ratio of 0.29.
Daqo New Energy (NYSE:DQ) last announced its earnings results on Wednesday, February 28th. The semiconductor company reported $3.16 EPS for the quarter, beating the Zacks’ consensus estimate of $2.39 by $0.77. Daqo New Energy had a net margin of 26.31% and a return on equity of 27.82%. The firm had revenue of $103.68 million for the quarter, compared to analysts’ expectations of $95.25 million. During the same quarter in the previous year, the business posted $0.39 EPS. The company’s quarterly revenue was up 124.8% on a year-over-year basis. sell-side analysts expect that Daqo New Energy will post 5.88 EPS for the current fiscal year.
Large investors have recently modified their holdings of the business. Advisors Preferred LLC purchased a new stake in shares of Daqo New Energy during the 4th quarter valued at about $103,000. Public Employees Retirement System of Ohio increased its position in shares of Daqo New Energy by 264.5% during the 2nd quarter. Public Employees Retirement System of Ohio now owns 7,767 shares of the semiconductor company’s stock valued at $161,000 after purchasing an additional 5,636 shares during the last quarter. Dynamic Technology Lab Private Ltd purchased a new stake in shares of Daqo New Energy during the 2nd quarter valued at about $210,000. MML Investors Services LLC purchased a new stake in shares of Daqo New Energy during the 4th quarter valued at about $222,000. Finally, Goldman Sachs Group Inc. purchased a new stake in shares of Daqo New Energy during the 4th quarter valued at about $262,000. 29.57% of the stock is owned by institutional investors and hedge funds.
About Daqo New Energy
Daqo New Energy Corp. is a polysilicon manufacturer. The Company utilizes the chemical vapor deposition process, or the modified Siemens process, to produce polysilicon. The Company’s segments include Polysilicon and Wafer. The Company manufactures and sells polysilicon to photovoltaic product manufacturers, whereby the polysilicon is processed into ingots, wafers, cells and modules for solar power solutions.
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