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Daqo New Energy Corp.

https://www.dqsolar.com

Industry

Semiconductors

Daqo New Energy Corp., together with its subsidiaries, manufactures and sells polysilicon to photovoltaic product manufactures 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. in August 2009. Daqo New Energy Corp. was founded in 2006 and is based in Shanghai, the People's Republic of China.

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Roth MKM analyst Philip Shen maintains a Neutral rating on Daqo New Energy (NYSE:DQ) and lowers the price target from $23 to $15.

Portfolio Pulse from Benzinga Newsdesk

August 28, 2024 | 1:16 pm

HSBC analyst Daniel Yang has upgraded Daqo New Energy (NYSE:DQ) from Reduce to Hold, setting a price target of $15.

Portfolio Pulse from Benzinga Newsdesk

August 27, 2024 | 11:43 am

The Dow Jones closed at a record high, while the Nasdaq fell due to a decline in Nvidia's stock ahead of its earnings report. The CNN Money Fear and Greed index remained neutral. Daqo New Energy reported poor results, and PDD Holdings saw a significant drop in stock price. Investors are awaiting earnings from ScanSource, PVH Corp, and Nordstrom.

Portfolio Pulse from Avi Kapoor

August 27, 2024 | 6:25 am

Jefferies analyst Johnson Wan maintains a Buy rating on Daqo New Energy but lowers the price target from $38.4 to $34.05.

Portfolio Pulse from Benzinga Newsdesk

August 26, 2024 | 8:47 pm

Daqo New Energy reported weak Q2 results, missing revenue and earnings expectations. Energy shares rose, while information technology shares fell. Medirom Healthcare and Prestige Wealth saw significant stock price increases due to strategic announcements. Alarum Technologies and PDD Holdings experienced notable declines after disappointing financial results.

Portfolio Pulse from Avi Kapoor

August 26, 2024 | 6:40 pm

Daqo New Energy Corp. (NYSE:DQ) reported disappointing Q2 results, missing EPS and sales estimates due to challenges in the solar industry. Revenue fell significantly, and the company reported a gross loss. Daqo's production volume increased, but the average selling price of polysilicon dropped. The company has adjusted its production forecasts and announced a share repurchase program. DQ shares fell 7.24% premarket. Investors can also gain exposure through ProShares S&P Kensho Cleantech ETF (NYSE:CTEX).

Portfolio Pulse from Lekha Gupta

August 26, 2024 | 12:41 pm

DAQO New Energy shares fell after the company reported disappointing Q2 financial results.

Portfolio Pulse from Benzinga Newsdesk

August 26, 2024 | 12:32 pm

PDD Holdings reported a revenue miss for Q2 2024, causing its shares to drop 15.2% in pre-market trading. Other stocks like SM Energy, Westlake Chemical Partners, AngioDynamics, Daqo New Energy, Yiren Digital, elf Beauty, and Guardant Health also saw declines in pre-market trading.

Portfolio Pulse from Avi Kapoor

August 26, 2024 | 12:25 pm

Daqo New Energy anticipates producing 43,000MT-46,000MT of polysilicon in Q3 FY24 and 210,000MT-220,000MT in 2024, indicating a strong production outlook.

Portfolio Pulse from Benzinga Newsdesk

August 26, 2024 | 10:40 am

Daqo New Energy reported a decrease in its Q2 FY24 polysilicon average selling prices to $5.12/kg from $7.66/kg in Q1 FY24, indicating a significant drop in pricing.

Portfolio Pulse from Benzinga Newsdesk

August 26, 2024 | 10:38 am

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