DAQO New Energy Corp. (NYSE:DQ) hit a new 52-week high on Monday . The company traded as high as $31.80 and last traded at $31.77, with a volume of 93,691 shares. The stock had previously closed at $30.42.
A number of equities research analysts have recently weighed in on DQ shares. Zacks Investment Research upgraded shares of DAQO New Energy Corp. from a “hold” rating to a “strong-buy” rating and set a $27.00 price objective for the company in a report on Friday, July 21st. Roth Capital set a $35.00 price objective on shares of DAQO New Energy Corp. and gave the stock a “buy” rating in a report on Monday, June 26th. BidaskClub upgraded shares of DAQO New Energy Corp. from a “sell” rating to a “hold” rating in a report on Monday, July 24th. Finally, ValuEngine upgraded shares of DAQO New Energy Corp. from a “buy” rating to a “strong-buy” rating in a report on Friday, September 1st. Two equities research analysts have rated the stock with a hold rating, two have given a buy rating and one has issued a strong buy rating to the company’s stock. The stock has an average rating of “Buy” and a consensus price target of $36.00.
The stock has a market capitalization of $361.99 million, a P/E ratio of 7.18 and a beta of 1.86. The company’s 50 day moving average price is $27.59 and its 200-day moving average price is $23.06.
DAQO New Energy Corp. (NYSE:DQ) last issued its quarterly earnings results on Tuesday, August 8th. The semiconductor company reported $1.19 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.38 by ($0.19). The company had revenue of $76.00 million during the quarter, compared to the consensus estimate of $71.80 million. DAQO New Energy Corp. had a return on equity of 18.90% and a net margin of 19.35%. During the same quarter in the prior year, the business earned $1.87 earnings per share. Equities research analysts anticipate that DAQO New Energy Corp. will post $5.88 earnings per share for the current fiscal year.
A number of institutional investors and hedge funds have recently modified their holdings of DQ. State of Wisconsin Investment Board bought a new stake in DAQO New Energy Corp. in the first quarter worth $217,000. Trexquant Investment LP bought a new stake in DAQO New Energy Corp. in the first quarter worth $196,000. Laurion Capital Management LP bought a new stake in DAQO New Energy Corp. in the first quarter worth $343,000. Morgan Stanley lifted its position in DAQO New Energy Corp. by 243.5% in the first quarter. Morgan Stanley now owns 100,534 shares of the semiconductor company’s stock worth $1,888,000 after buying an additional 71,264 shares during the last quarter. Finally, KCG Holdings Inc. bought a new stake in DAQO New Energy Corp. in the first quarter worth $377,000. Institutional investors own 28.39% of the company’s stock.
About DAQO New Energy Corp.
Daqo New Energy Corp. is a polysilicon manufacturer. The Company utilizes the chemical vapor deposition process, or the modified Siemens process, to produce polysilicon. The Company’s segments include Polysilicon and Wafer. The Company manufactures and sells polysilicon to photovoltaic product manufacturers, whereby the polysilicon is processed into ingots, wafers, cells and modules for solar power solutions.
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