Daqo New Energy (NYSE:DQ) Trading 5.7% Higher

Shares of Daqo New Energy Corp. (NYSE:DQ) traded up 5.7% during mid-day trading on Thursday . The company traded as high as $28.98 and last traded at $28.23. 741,600 shares were traded during mid-day trading, a decline of 45% from the average session volume of 1,355,372 shares. The stock had previously closed at $26.71.

Analyst Upgrades and Downgrades

Separately, Daiwa Capital Markets reissued an “underperform” rating and set a $25.00 price target on shares of Daqo New Energy in a research report on Friday, March 15th. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating and one has issued a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus target price of $36.23.

Daqo New Energy Stock Up 5.4 %

The business’s fifty day moving average is $22.00 and its 200 day moving average is $24.68. The firm has a market capitalization of $2.18 billion, a price-to-earnings ratio of 5.34 and a beta of 0.19.

Daqo New Energy (NYSE:DQ) last issued its quarterly earnings results on Wednesday, February 28th. The semiconductor company reported $0.64 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.84 by ($0.20). Daqo New Energy had a net margin of 18.24% and a return on equity of 6.42%. The business had revenue of $477.13 million during the quarter, compared to analyst estimates of $529.40 million. During the same quarter in the previous year, the firm posted $4.71 earnings per share. Equities research analysts expect that Daqo New Energy Corp. will post 4.06 EPS for the current year.

Institutional Inflows and Outflows

Institutional investors have recently modified their holdings of the company. Toroso Investments LLC bought a new stake in shares of Daqo New Energy during the 3rd quarter worth about $35,000. PNC Financial Services Group Inc. boosted its holdings in shares of Daqo New Energy by 117.5% during the 4th quarter. PNC Financial Services Group Inc. now owns 1,588 shares of the semiconductor company’s stock worth $42,000 after buying an additional 858 shares during the period. US Bancorp DE boosted its holdings in shares of Daqo New Energy by 97.5% during the 4th quarter. US Bancorp DE now owns 1,912 shares of the semiconductor company’s stock worth $51,000 after buying an additional 944 shares during the period. Quadrant Capital Group LLC boosted its holdings in shares of Daqo New Energy by 39.4% during the 4th quarter. Quadrant Capital Group LLC now owns 2,348 shares of the semiconductor company’s stock worth $62,000 after buying an additional 664 shares during the period. Finally, Mondrian Investment Partners LTD boosted its holdings in shares of Daqo New Energy by 68.4% during the 2nd quarter. Mondrian Investment Partners LTD now owns 1,879 shares of the semiconductor company’s stock worth $75,000 after buying an additional 763 shares during the period. 47.22% of the stock is currently owned by institutional investors and hedge funds.

Daqo New Energy Company Profile

Daqo New Energy Corp., together with its subsidiaries, manufactures and sells polysilicon to photovoltaic product manufacturers in the People's Republic of China. Its products are used in ingots, wafers, cells, and modules for solar power solutions. The company was formerly known as Mega Stand International Limited and changed its name to Daqo New Energy Corp.