Roth Mkm Cuts Daqo New Energy (NYSE:DQ) Price Target to $15.00

Daqo New Energy (NYSE:DQ) had its price objective reduced by Roth Mkm from $23.00 to $15.00 in a research report report published on Wednesday, Benzinga reports. Roth Mkm currently has a neutral rating on the semiconductor company’s stock.

DQ has been the topic of a number of other reports. HSBC raised Daqo New Energy from a reduce rating to a hold rating and set a $15.00 price objective on the stock in a report on Tuesday. StockNews.com downgraded Daqo New Energy from a hold rating to a sell rating in a report on Tuesday, August 13th. Hsbc Global Res raised Daqo New Energy from a moderate sell rating to a hold rating in a report on Tuesday. The Goldman Sachs Group started coverage on Daqo New Energy in a report on Thursday, July 11th. They set a buy rating on the stock. Finally, Jefferies Financial Group reduced their target price on Daqo New Energy from $38.40 to $34.05 and set a buy rating on the stock in a report on Monday, August 26th. Two investment analysts have rated the stock with a sell rating, three have issued a hold rating and two have given a buy rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of Hold and an average price target of $22.26.

Daqo New Energy Stock Up 1.0 %

DQ stock opened at $14.71 on Wednesday. Daqo New Energy has a twelve month low of $13.62 and a twelve month high of $37.92. The company has a market cap of $970.96 million, a PE ratio of 6.91 and a beta of 0.28. The business’s 50-day simple moving average is $15.98 and its 200 day simple moving average is $20.11.

Daqo New Energy (NYSE:DQ) last released its earnings results on Monday, August 26th. The semiconductor company reported ($1.81) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.56) by ($1.25). Daqo New Energy had a return on equity of 2.46% and a net margin of 7.84%. The firm had revenue of $219.91 million for the quarter, compared to analyst estimates of $406.50 million. During the same period last year, the business earned $1.34 earnings per share. On average, equities research analysts anticipate that Daqo New Energy will post 0.46 EPS for the current year.

Daqo New Energy declared that its board has authorized a stock repurchase program on Monday, July 22nd that authorizes the company to repurchase $100.00 million in shares. This repurchase authorization authorizes the semiconductor company to buy up to 8.6% of its stock through open market purchases. Stock repurchase programs are generally a sign that the company’s board of directors believes its stock is undervalued.

Institutional Inflows and Outflows

Institutional investors have recently bought and sold shares of the stock. Quadrant Capital Group LLC increased its position in shares of Daqo New Energy by 39.4% in the 4th quarter. Quadrant Capital Group LLC now owns 2,348 shares of the semiconductor company’s stock valued at $62,000 after buying an additional 664 shares in the last quarter. PNC Financial Services Group Inc. increased its position in shares of Daqo New Energy by 117.5% in the 4th quarter. PNC Financial Services Group Inc. now owns 1,588 shares of the semiconductor company’s stock valued at $42,000 after buying an additional 858 shares in the last quarter. Rhumbline Advisers increased its position in shares of Daqo New Energy by 22.2% in the 2nd quarter. Rhumbline Advisers now owns 8,104 shares of the semiconductor company’s stock valued at $118,000 after buying an additional 1,470 shares in the last quarter. Shell Asset Management Co. increased its position in shares of Daqo New Energy by 20.6% in the 1st quarter. Shell Asset Management Co. now owns 10,734 shares of the semiconductor company’s stock valued at $302,000 after buying an additional 1,834 shares in the last quarter. Finally, Mitsubishi UFJ Asset Management Co. Ltd. increased its position in shares of Daqo New Energy by 4.1% in the 4th quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 48,744 shares of the semiconductor company’s stock valued at $1,184,000 after buying an additional 1,899 shares in the last quarter. 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.