Daqo New Energy Corp (NYSE:DQ)’s stock price 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 traded 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 topic of several recent analyst reports. ValuEngine upgraded Daqo New Energy from a “hold” rating to a “buy” rating in a research note on Monday, June 3rd. Zacks Investment Research upgraded Daqo New Energy from a “strong sell” rating to a “hold” rating in a research note on Tuesday, May 14th. Finally, Roth Capital reissued a “buy” rating on shares of Daqo New Energy in a report on Wednesday. One research analyst has rated the stock with a hold rating and three have issued a buy rating to the company’s 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 0.28, a current ratio of 0.56 and a quick ratio of 0.76. The stock has a market capitalization of $448.00 million, a P/E ratio of 18.88, a price-to-earnings-growth ratio of 0.70 and a beta of 1.83. The company has a fifty day moving average of $42.55 and a two-hundred day moving average of $37.98.
Daqo New Energy (NYSE:DQ) last announced its quarterly earnings data on Wednesday, August 14th. The semiconductor company reported ($0.20) earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.11) by ($0.09). The firm had revenue of $65.96 million during the quarter, compared to the consensus estimate of $69.80 million. Daqo New Energy had a negative net margin of 0.85% and a positive return on equity of 5.57%. During the same period in the prior year, the firm earned $1.36 earnings per share. As a group, equities research analysts predict that Daqo New Energy Corp will post 1.86 EPS for the current fiscal year.
A number of institutional investors have recently made changes to their positions in DQ. BlackRock Inc. lifted its stake in Daqo New Energy by 8.7% during the 4th quarter. BlackRock Inc. now owns 78,519 shares of the semiconductor company’s stock worth $1,838,000 after acquiring an additional 6,293 shares in the last quarter. Bank of Montreal Can acquired a new stake in Daqo New Energy in the 1st quarter valued at about $144,000. Advisors Preferred LLC acquired a new stake in Daqo New Energy in the 1st quarter valued at about $179,000. Blackhawk Capital Partners LLC. acquired a new stake in Daqo New Energy in the 1st quarter valued at about $280,000. Finally, Shell Asset Management Co. acquired a new stake in Daqo New Energy in the 1st quarter valued at about $112,000. 32.69% of the stock is owned by hedge funds and other institutional investors.
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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