Daqo New Energy (DQ) Trading Down 13.8%

Daqo New Energy Corp (NYSE:DQ) traded down 13.8% during mid-day trading on Monday . The company traded as low as $52.04 and last traded at $55.85. 1,488,631 shares changed hands during trading, an increase of 180% from the average session volume of 532,566 shares. The stock had previously closed at $64.78.

A number of equities research analysts recently issued reports on the stock. Roth Capital set a $65.00 target price on shares of Daqo New Energy and gave the stock a “buy” rating in a research report on Monday, December 4th. Zacks Investment Research upgraded shares of Daqo New Energy from a “hold” rating to a “strong-buy” rating and set a $50.00 target price for the company in a research report on Monday, November 20th. Finally, TheStreet upgraded shares of Daqo New Energy from a “c+” rating to a “b” rating in a research report on Wednesday, November 15th. One investment analyst has rated the stock with a hold rating, two have given a buy rating and two have given a strong buy rating to the company. The company has an average rating of “Buy” and a consensus target price of $51.67.

The company has a current ratio of 0.57, a quick ratio of 0.49 and a debt-to-equity ratio of 0.34. The firm has a market cap of $587.44, a PE ratio of 9.51, a price-to-earnings-growth ratio of 1.66 and a beta of 2.13.

A number of institutional investors and hedge funds have recently bought and sold shares of DQ. Public Employees Retirement System of Ohio increased its position in Daqo New Energy by 264.5% in the 2nd quarter. Public Employees Retirement System of Ohio now owns 7,767 shares of the semiconductor company’s stock valued at $161,000 after acquiring an additional 5,636 shares in the last quarter. Dynamic Technology Lab Private Ltd acquired a new stake in shares of Daqo New Energy during the 2nd quarter worth approximately $210,000. Granite Point Capital Management L.P. acquired a new stake in shares of Daqo New Energy during the 3rd quarter worth approximately $290,000. Susquehanna International Group LLP acquired a new stake in shares of Daqo New Energy during the 3rd quarter worth approximately $490,000. Finally, JPMorgan Chase & Co. grew its position in shares of Daqo New Energy by 29,376.5% during the 3rd quarter. JPMorgan Chase & Co. now owns 28,887 shares of the semiconductor company’s stock worth $852,000 after buying an additional 28,789 shares during the period. Hedge funds and other institutional investors own 27.38% of the company’s stock.

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About Daqo New Energy

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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