Daqo New Energy (DQ) Trading Up 7.3%

Daqo New Energy Corp (NYSE:DQ)’s share price rose 7.3% during trading on Tuesday . The stock traded as high as $62.16 and last traded at $59.93. Approximately 830,369 shares were traded during mid-day trading, an increase of 43% from the average daily volume of 582,183 shares. The stock had previously closed at $55.85.

DQ has been the topic of several research reports. Zacks Investment Research raised Daqo New Energy from a “hold” rating to a “strong-buy” rating and set a $50.00 price objective on the stock in a report on Monday, November 20th. TheStreet raised Daqo New Energy from a “c+” rating to a “b” rating in a report on Wednesday, November 15th. Finally, Roth Capital set a $50.00 price objective on Daqo New Energy and gave the stock a “buy” rating in a report on Thursday, November 16th. One investment analyst has rated the stock with a hold rating, two have given a buy rating and two have assigned a strong buy rating to the company. The stock currently has an average rating of “Buy” and a consensus target price of $51.67.

The firm has a market cap of $642.35, a price-to-earnings ratio of 10.21, a PEG ratio of 1.66 and a beta of 2.13. The company has a debt-to-equity ratio of 0.34, a current ratio of 0.57 and a quick ratio of 0.49.

Several hedge funds have recently modified their holdings of DQ. Dymon Asia Capital Ltd. purchased a new position in shares of Daqo New Energy during the second quarter worth about $2,886,000. Quentec Asset Management LLC grew its holdings in shares of Daqo New Energy by 5.0% during the second quarter. Quentec Asset Management LLC now owns 977,106 shares of the semiconductor company’s stock worth $20,285,000 after buying an additional 46,888 shares during the last quarter. Public Employees Retirement System of Ohio grew its holdings in shares of Daqo New Energy by 264.5% during the second quarter. Public Employees Retirement System of Ohio now owns 7,767 shares of the semiconductor company’s stock worth $161,000 after buying an additional 5,636 shares during the last quarter. Dynamic Technology Lab Private Ltd purchased a new position in shares of Daqo New Energy during the second quarter worth about $210,000. Finally, Ecofin Ltd. grew its holdings in shares of Daqo New Energy by 22.3% during the second quarter. Ecofin Ltd. now owns 103,205 shares of the semiconductor company’s stock worth $2,143,000 after buying an additional 18,846 shares during the last quarter. 27.38% of the stock is currently owned by institutional investors.

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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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