Roth Capital Reiterates Their Buy Rating on Daqo New Energy

By Austin Angelo

In a report released yesterday, Philip Shen from Roth Capital reiterated a Buy rating on Daqo New Energy (NYSE: DQ), with a price target of $35. The company’s shares opened today at $19.79.

According to TipRanks.com, Shen is ranked 0 out of 5 stars with an average return of -15.3% and a 27.9% success rate. Shen covers the Industrial Goods sector, focusing on stocks such as Capstone Turbine Corp, Orion Energy Systems, and Amer Superconductor.

Daqo New Energy has an analyst consensus of Moderate Buy, with a price target consensus of $35.

Based on Daqo New Energy’s latest earnings report for the quarter ending March 31, the company posted quarterly revenue of $81.92 million and quarterly net profit of $22.38 million. In comparison, last year the company earned revenue of $56.16 million and had a net profit of $8.11 million.

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Daqo New Energy Corp. is a holding company, which engages in the manufacture and sale of polysilicon products for solar cell and module manufacturers. It operates through the Polysilicon and Wafer segments. The company was founded on November 22, 2007 and is headquartered in Wanzhou, China.