Daqo New Energy Corp (NYSE:DQ)’s share price was up 10.5% during mid-day trading on Friday . The company traded as high as $42.77 and last traded at $42.66, approximately 322,463 shares traded hands during trading. An increase of 11% from the average daily volume of 291,074 shares. The stock had previously closed at $38.61.
A number of equities research analysts have recently issued reports on DQ shares. Zacks Investment Research lowered Hess Midstream Partners from a “hold” rating to a “sell” rating in a research report on Tuesday, May 14th. ValuEngine lowered Intersect ENT from a “buy” rating to a “hold” rating in a research report on Monday, June 3rd. One equities research analyst has rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. Daqo New Energy has an average rating of “Buy” and a consensus price target of $45.00.
The firm has a 50-day simple moving average of $41.52. The company has a market capitalization of $436.85 million, a P/E ratio of 9.61, a price-to-earnings-growth ratio of 0.69 and a beta of 1.90. The company has a debt-to-equity ratio of 0.27, a current ratio of 0.86 and a quick ratio of 0.76.
A number of large investors have recently bought and sold shares of the stock. First Trust Advisors LP raised its position in 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 buying an additional 359 shares during the period. Shell Asset Management Co. acquired a new position in Daqo New Energy during the first quarter valued at $112,000. Bank of Montreal Can acquired a new position in Daqo New Energy during the first quarter valued at $144,000. Advisors Preferred LLC acquired a new position in Daqo New Energy during the first quarter valued at $179,000. Finally, BlackRock Inc. raised its position in Daqo New Energy by 8.7% during the fourth quarter. BlackRock Inc. now owns 78,519 shares of the semiconductor company’s stock valued at $1,838,000 after buying an additional 6,293 shares during the period. 31.97% of the stock is currently owned by hedge funds and other institutional investors.
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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