Daqo New Energy (DQ) Shares Up 9.3%

Daqo New Energy (NYSE:DQ) shot up 9.3% on Monday . The company traded as high as $62.57 and last traded at $60.26. 906,359 shares traded hands during trading, an increase of 116% from the average session volume of 420,459 shares. The stock had previously closed at $55.11.

A number of research firms recently weighed in on DQ. Tudor Pickering cut Daqo New Energy from a “buy” rating to a “hold” rating in a report on Monday, February 26th. ValuEngine cut Daqo New Energy from a “strong-buy” rating to a “buy” rating in a report on Wednesday, May 2nd. Finally, Zacks Investment Research cut Daqo New Energy from a “strong-buy” rating to a “hold” rating in a report on Tuesday, January 16th. Two equities research analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. The stock has a consensus rating of “Buy” and an average price target of $64.50.

The stock has a market cap of $633.83 million, a P/E ratio of 6.54, a price-to-earnings-growth ratio of 1.04 and a beta of 2.01. The company has a debt-to-equity ratio of 0.25, a current ratio of 0.76 and a quick ratio of 0.67.



Daqo New Energy (NYSE:DQ) last announced its quarterly earnings data on Tuesday, May 8th. The semiconductor company reported $2.79 EPS for the quarter, beating the Zacks’ consensus estimate of $2.26 by $0.53. The firm had revenue of $103.30 million for the quarter, compared to analyst estimates of $96.75 million. Daqo New Energy had a return on equity of 27.20% and a net margin of 27.28%. The business’s quarterly revenue was up 23.3% compared to the same quarter last year. During the same period last year, the company earned $2.32 EPS. equities analysts expect that Daqo New Energy will post 8.28 EPS for the current year.

A number of institutional investors and hedge funds have recently made changes to their positions in DQ. State of Wisconsin Investment Board bought a new position in shares of Daqo New Energy in the 4th quarter worth $920,000. Bogle Investment Management L P DE bought a new position in shares of Daqo New Energy in the 4th quarter worth $14,529,000. Navellier & Associates Inc bought a new position in shares of Daqo New Energy in the 4th quarter worth $1,749,000. Acadian Asset Management LLC boosted its position in shares of Daqo New Energy by 204.9% in the 4th quarter. Acadian Asset Management LLC now owns 395,275 shares of the semiconductor company’s stock worth $23,494,000 after purchasing an additional 265,634 shares during the last quarter. Finally, Arrowstreet Capital Limited Partnership bought a new position in shares of Daqo New Energy in the 4th quarter worth $1,530,000. Hedge funds and other institutional investors own 26.66% of the company’s stock.

About Daqo New Energy

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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