DAQO New Energy Corp. (NYSE:DQ – Get Free Report) shares shot up 3.6% on Tuesday . The company traded as high as $13.26 and last traded at $13.3590. 43,480 shares changed hands during mid-day trading, a decline of 95% from the average daily volume of 855,937 shares. The stock had previously closed at $12.89.
Analyst Ratings Changes
DQ has been the subject of a number of research reports. Weiss Ratings cut shares of DAQO New Energy from a “sell (d-)” rating to a “sell (e+)” rating in a research note on Friday. New Street Research set a $10.00 price objective on shares of DAQO New Energy in a research report on Monday, August 24th. The Goldman Sachs Group downgraded shares of DAQO New Energy from a “neutral” rating to a “sell” rating and set a $10.00 price objective for the company. in a report on Monday, August 24th. Zacks Research cut DAQO New Energy from a “hold” rating to a “strong sell” rating in a research note on Friday, August 7th. Finally, JPMorgan Chase & Co. lowered their price target on DAQO New Energy from $35.50 to $22.00 and set an “overweight” rating on the stock in a research report on Friday, July 31st. Two investment analysts have rated the stock with a Buy rating, one has assigned a Hold rating and four have assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, DAQO New Energy has a consensus rating of “Reduce” and a consensus price target of $19.36.
Get Our Latest Report on DAQO New Energy
DAQO New Energy Stock Up 1.8%
DAQO New Energy (NYSE:DQ – Get Free Report) last announced its quarterly earnings data on Thursday, August 20th. The semiconductor company reported ($1.20) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.57) by ($0.63). DAQO New Energy had a negative return on equity of 3.26% and a negative net margin of 34.50%.The business had revenue of $62.66 million during the quarter, compared to the consensus estimate of $52.93 million. Sell-side analysts predict that DAQO New Energy Corp. will post -1.96 earnings per share for the current year.
Institutional Inflows and Outflows
A number of institutional investors and hedge funds have recently modified their holdings of DQ. Arrowstreet Capital Limited Partnership bought a new stake in shares of DAQO New Energy in the 3rd quarter valued at about $18,280,000. Goldman Sachs Group Inc. grew its position in DAQO New Energy by 117.2% during the 1st quarter. Goldman Sachs Group Inc. now owns 1,159,835 shares of the semiconductor company’s stock worth $21,005,000 after acquiring an additional 625,900 shares during the last quarter. Marshall Wace LLP purchased a new position in DAQO New Energy in the 4th quarter worth approximately $16,742,000. Millennium Management LLC increased its stake in DAQO New Energy by 1,261.0% in the 1st quarter. Millennium Management LLC now owns 354,596 shares of the semiconductor company’s stock worth $6,422,000 after purchasing an additional 328,541 shares during the period. Finally, Invesco Ltd. lifted its position in DAQO New Energy by 22.6% in the fourth quarter. Invesco Ltd. now owns 1,429,565 shares of the semiconductor company’s stock valued at $42,172,000 after purchasing an additional 263,614 shares during the last quarter. 47.22% of the stock is owned by institutional investors.
About DAQO New Energy
DAQO New Energy Corp. operates as a leading manufacturer of high-purity polysilicon and monocrystalline silicon wafers for the global solar photovoltaic industry. The company focuses on serving module makers and integrated solar producers with critical upstream materials, applying proprietary technologies and optimized processes to achieve high product purity and consistently low production costs. Its core offerings include solar-grade polysilicon—used in the ingot casting and wafer slicing stages—and premium mono-silicon wafers, which are a key input for high-efficiency solar cell production.
Founded in the late 2000s and listed on the New York Stock Exchange in 2010, DAQO New Energy established its first polysilicon facility in China’s Xinjiang Uygur Autonomous Region.
Featured Articles
- Five stocks we like better than DAQO New Energy
- NVIDIA’s MediaTek Bet Shows How It Plans to Defend Its AI Moat
- Is Abercrombie & Fitch’s Hot Streak Just Getting Started?
- Medtronic’s Stars Are Aligning for a Price Recovery
- Analysts See Major Upside for This Top-10 Performing S&P 500 Stock
Receive News & Ratings for DAQO New Energy Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for DAQO New Energy and related companies with MarketBeat.com's FREE daily email newsletter.
