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.
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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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