DAQO New Energy Corp. (DQ) Rating Increased to Hold at BidaskClub

DAQO New Energy Corp. (NYSE:DQ) was upgraded by BidaskClub from a “sell” rating to a “hold” rating in a note issued to investors on Monday, July 24th.

DQ has been the topic of several other research reports. Zacks Investment Research upgraded DAQO New Energy Corp. from a “sell” rating to a “hold” rating in a research note on Thursday, April 20th. Roth Capital set a $35.00 price target on DAQO New Energy Corp. and gave the stock a “buy” rating in a research note on Monday, June 26th.

DAQO New Energy Corp. (NYSE:DQ) traded up 9.18% on Monday, hitting $27.60. The stock had a trading volume of 229,756 shares. DAQO New Energy Corp. has a 1-year low of $18.01 and a 1-year high of $27.75. The company has a market cap of $290.32 million, a P/E ratio of 5.01 and a beta of 1.75. The stock has a 50 day moving average price of $21.44 and a 200 day moving average price of $21.84.

DAQO New Energy Corp. (NYSE:DQ) last posted its earnings results on Tuesday, May 9th. The semiconductor company reported $2.23 earnings per share for the quarter, topping analysts’ consensus estimates of $1.47 by $0.76. DAQO New Energy Corp. had a return on equity of 22.97% and a net margin of 22.75%. The firm had revenue of $83.81 million for the quarter, compared to the consensus estimate of $72.50 million. During the same quarter in the prior year, the business earned $1.12 EPS. On average, equities research analysts expect that DAQO New Energy Corp. will post $4.98 EPS for the current fiscal year.

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Institutional investors have recently added to or reduced their stakes in the stock. Boston Partners purchased a new position in DAQO New Energy Corp. during the second quarter valued at $3,625,000. Acadian Asset Management LLC boosted its position in DAQO New Energy Corp. by 11.1% in the second quarter. Acadian Asset Management LLC now owns 179,664 shares of the semiconductor company’s stock valued at $3,729,000 after buying an additional 17,881 shares during the last quarter. Summit Partners Public Asset Management LLC boosted its position in DAQO New Energy Corp. by 94.9% in the first quarter. Summit Partners Public Asset Management LLC now owns 220,000 shares of the semiconductor company’s stock valued at $4,129,000 after buying an additional 107,100 shares during the last quarter. KCG Holdings Inc. purchased a new position in DAQO New Energy Corp. during the first quarter valued at $377,000. Finally, Morgan Stanley boosted 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 valued at $1,888,000 after buying an additional 71,264 shares during the last quarter. 30.26% of the stock is currently owned by hedge funds and other institutional investors.

DAQO New Energy Corp. Company Profile

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.