Daqo New Energy Corp (NYSE:DQ) has been given a consensus rating of “Buy” by the six research firms that are covering the firm, MarketBeat Ratings reports. One research analyst has rated the stock with a hold rating, two have assigned a buy rating and two have issued a strong buy rating on the company. The average 12 month price objective among brokers that have issued ratings on the stock in the last year is $51.67.
DQ has been the topic of a number of research analyst reports. Zacks Investment Research raised shares of Daqo New Energy from a “hold” rating to a “strong-buy” rating and set a $50.00 price objective on the stock in a research report on Monday, November 20th. TheStreet raised shares of Daqo New Energy from a “c+” rating to a “b” rating in a research report on Wednesday, November 15th. Finally, Roth Capital set a $50.00 price objective on shares of Daqo New Energy and gave the stock a “buy” rating in a research report on Thursday, November 16th.
Several hedge funds have recently added to or reduced their stakes in the company. Susquehanna International Group LLP bought a new position in shares of Daqo New Energy during the 3rd quarter worth about $490,000. Granite Point Capital Management L.P. bought a new position in shares of Daqo New Energy during the 3rd quarter worth about $290,000. Dymon Asia Capital Ltd. boosted its position in shares of Daqo New Energy by 46.6% during the 3rd quarter. Dymon Asia Capital Ltd. now owns 203,867 shares of the semiconductor company’s stock worth $5,916,000 after purchasing an additional 64,850 shares in the last quarter. JPMorgan Chase & Co. lifted its position in Daqo New Energy by 29,376.5% in the 3rd quarter. JPMorgan Chase & Co. now owns 28,887 shares of the semiconductor company’s stock valued at $852,000 after acquiring an additional 28,789 shares in the last quarter. Finally, Ecofin Ltd. lifted its position in Daqo New Energy by 22.3% in the 2nd quarter. Ecofin Ltd. now owns 103,205 shares of the semiconductor company’s stock valued at $2,143,000 after acquiring an additional 18,846 shares in the last quarter. 27.38% of the stock is currently owned by institutional investors.
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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