DAQO New Energy Corp. (DQ) PT Set at $50.00 by Roth Capital

DAQO New Energy Corp. (NYSE:DQ) received a $50.00 price objective from equities research analysts at Roth Capital in a report issued on Thursday. The firm currently has a “buy” rating on the semiconductor company’s stock. Roth Capital’s target price suggests a potential upside of 16.12% from the stock’s previous close.

Other analysts have also recently issued research reports about the company. Zacks Investment Research cut DAQO New Energy Corp. from a “buy” rating to a “hold” rating in a report on Tuesday, October 10th. ValuEngine raised DAQO New Energy Corp. from a “buy” rating to a “strong-buy” rating in a report on Friday, September 1st. Finally, BidaskClub raised DAQO New Energy Corp. from a “sell” rating to a “hold” rating in a report on Monday, July 24th. Two investment analysts have rated the stock with a hold rating, two have given a buy rating and one has given a strong buy rating to the company. The company has a consensus rating of “Buy” and a consensus target price of $41.00.

DAQO New Energy Corp. (NYSE:DQ) opened at $43.06 on Thursday. DAQO New Energy Corp. has a 12 month low of $18.01 and a 12 month high of $44.49. The company has a quick ratio of 0.36, a current ratio of 0.43 and a debt-to-equity ratio of 0.39. The company has a market capitalization of $419.36, a PE ratio of 6.93 and a beta of 1.93.

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Several hedge funds and other institutional investors have recently made changes to their positions in the stock. Granite Point Capital Management L.P. purchased a new position in shares of DAQO New Energy Corp. during the 3rd quarter valued at about $290,000. Dymon Asia Capital Ltd. raised its holdings in shares of DAQO New Energy Corp. by 46.6% during the 3rd quarter. Dymon Asia Capital Ltd. now owns 203,867 shares of the semiconductor company’s stock valued at $5,916,000 after buying an additional 64,850 shares in the last quarter. JPMorgan Chase & Co. raised its holdings in shares of DAQO New Energy Corp. by 29,376.5% during the 3rd quarter. JPMorgan Chase & Co. now owns 28,887 shares of the semiconductor company’s stock valued at $852,000 after buying an additional 28,789 shares in the last quarter. Ecofin Ltd. raised its holdings in shares of DAQO New Energy Corp. by 22.3% during the 2nd quarter. Ecofin Ltd. now owns 103,205 shares of the semiconductor company’s stock valued at $2,143,000 after buying an additional 18,846 shares in the last quarter. Finally, Dynamic Technology Lab Private Ltd purchased a new position in shares of DAQO New Energy Corp. during the 2nd quarter valued at about $210,000. 28.35% of the stock is currently owned by institutional investors.

DAQO New Energy Corp. Company Profile

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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