Daqo New Energy (NYSE:DQ) Shares Up 10.3%

Daqo New Energy Corp (NYSE:DQ)’s stock price was up 10.3% during mid-day trading on Thursday . The company traded as high as $150.11 and last traded at $149.16. Approximately 643,821 shares changed hands during trading, an increase of 122% from the average daily volume of 290,320 shares. The stock had previously closed at $135.24.

Several brokerages have commented on DQ. TheStreet upgraded Daqo New Energy from a “c” rating to a “b-” rating in a research note on Wednesday, June 24th. ValuEngine upgraded shares of Daqo New Energy from a “sell” rating to a “hold” rating in a research report on Tuesday, September 15th. Roth Capital upped their target price on shares of Daqo New Energy from $120.00 to $150.00 and gave the stock a “buy” rating in a report on Wednesday, August 19th. Finally, Zacks Investment Research raised shares of Daqo New Energy from a “hold” rating to a “strong-buy” rating and set a $128.00 price target for the company in a report on Tuesday, July 21st. One equities research analyst has rated the stock with a hold rating, three have given a buy rating and one has issued a strong buy rating to the company’s stock. The stock presently has a consensus rating of “Buy” and an average target price of $115.67.

The company has a debt-to-equity ratio of 0.19, a quick ratio of 0.39 and a current ratio of 0.47. The stock has a market cap of $1.88 billion, a P/E ratio of 34.06 and a beta of 0.93. The stock has a 50-day moving average price of $115.96 and a 200-day moving average price of $79.37.

Daqo New Energy (NYSE:DQ) last announced its earnings results on Tuesday, August 18th. The semiconductor company reported $0.47 earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.03) by $0.50. The business had revenue of $133.52 million during the quarter, compared to analyst estimates of $106.70 million. Daqo New Energy had a net margin of 12.01% and a return on equity of 10.52%. During the same period in the previous year, the business posted $0.16 earnings per share. Sell-side analysts forecast that Daqo New Energy Corp will post 9.06 earnings per share for the current fiscal year.

Several institutional investors and hedge funds have recently bought and sold shares of the company. Bank of Montreal Can lifted its holdings in shares of Daqo New Energy by 26.0% in the 2nd quarter. Bank of Montreal Can now owns 1,162 shares of the semiconductor company’s stock worth $105,000 after acquiring an additional 240 shares during the last quarter. First Trust Advisors LP boosted its stake in shares of Daqo New Energy by 3.8% during the first quarter. First Trust Advisors LP now owns 9,808 shares of the semiconductor company’s stock valued at $324,000 after purchasing an additional 359 shares during the period. Guinness Atkinson Asset Management Inc increased its stake in shares of Daqo New Energy by 9.9% in the second quarter. Guinness Atkinson Asset Management Inc now owns 5,550 shares of the semiconductor company’s stock worth $412,000 after buying an additional 500 shares during the period. Guinness Asset Management LTD increased its stake in shares of Daqo New Energy by 6.8% in the second quarter. Guinness Asset Management LTD now owns 11,000 shares of the semiconductor company’s stock worth $817,000 after buying an additional 700 shares during the period. Finally, Bank of America Corp DE raised its holdings in Daqo New Energy by 0.6% during the 2nd quarter. Bank of America Corp DE now owns 352,281 shares of the semiconductor company’s stock valued at $26,154,000 after buying an additional 2,052 shares during the last quarter. Hedge funds and other institutional investors own 60.49% of the company’s stock.

Daqo New Energy Company Profile (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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