Daqo New Energy Corp (NYSE:DQ) shares rose 5.7% during trading on Friday . The stock traded as high as $43.89 and last traded at $43.70, approximately 256,332 shares changed hands during mid-day trading. A decline of 7% from the average daily volume of 274,660 shares. The stock had previously closed at $41.34.
DQ has been the subject of several recent analyst reports. Roth Capital restated a “buy” rating on shares of Daqo New Energy in a report on Wednesday. ValuEngine upgraded Daqo New Energy from a “hold” rating to a “buy” rating in a report on Monday, June 3rd. Finally, Zacks Investment Research upgraded Daqo New Energy from a “strong sell” rating to a “hold” rating in a report on Tuesday, May 14th. One equities research analyst has rated the stock with a hold rating and three have given a buy rating to the stock. Daqo New Energy presently has a consensus rating of “Buy” and an average price target of $43.50.
The company has a debt-to-equity ratio of 0.27, a quick ratio of 0.76 and a current ratio of 0.86. The company has a market cap of $468.29 million, a PE ratio of 9.84, a PEG ratio of 0.71 and a beta of 1.83. The firm has a fifty day simple moving average of $42.55 and a 200 day simple moving average of $37.98.
Daqo New Energy (NYSE:DQ) last posted its quarterly earnings results on Wednesday, August 14th. The semiconductor company reported ($0.20) EPS for the quarter, missing the consensus estimate of ($0.11) by ($0.09). The business had revenue of $65.96 million during the quarter, compared to analysts’ expectations of $69.80 million. Daqo New Energy had a net margin of 4.51% and a return on equity of 8.59%. During the same quarter last year, the firm earned $1.36 EPS. As a group, equities analysts predict that Daqo New Energy Corp will post 2.05 EPS for the current fiscal year.
Several hedge funds and other institutional investors have recently added to or reduced their stakes in DQ. Amundi Pioneer Asset Management Inc. grew its stake in Daqo New Energy by 57.3% during the 2nd quarter. Amundi Pioneer Asset Management Inc. now owns 34,618 shares of the semiconductor company’s stock worth $6,117,000 after buying an additional 12,617 shares during the last quarter. Voloridge Investment Management LLC bought a new position in Daqo New Energy during the 2nd quarter worth $582,000. Pictet Asset Management Ltd. bought a new position in Daqo New Energy during the 2nd quarter worth $203,000. Jane Street Group LLC bought a new position in Daqo New Energy during the 2nd quarter worth $239,000. Finally, Cubist Systematic Strategies LLC bought a new position in Daqo New Energy during the 2nd quarter worth $1,306,000. 32.69% of the stock is currently owned by institutional investors and hedge funds.
About Daqo New Energy (NYSE:DQ)
Daqo New Energy Corp., together with its subsidiaries, manufactures and sells polysilicon and wafers in the People's Republic of China. It operates through two segments, Polysilicon and Wafers. The company offers polysilicon to photovoltaic product manufacturers who further process its polysilicon into ingots, wafers, cells, and modules for solar power solutions.
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