Daqo New Energy (NYSE:DQ) Shares Up 3.5%

Daqo New Energy Corp. (NYSE:DQ) shares shot up 3.5% during trading on Tuesday . The stock traded as high as $14.81 and last traded at $14.81. 131,298 shares traded hands during trading, a decline of 89% from the average session volume of 1,159,419 shares. The stock had previously closed at $14.31.

Analyst Ratings Changes

Several brokerages recently commented on DQ. Roth Mkm restated a “neutral” rating and set a $23.00 target price on shares of Daqo New Energy in a report on Tuesday, April 30th. HSBC restated a “reduce” rating and set a $17.50 target price (down previously from $23.50) on shares of Daqo New Energy in a report on Monday, May 6th. Finally, Daiwa Capital Markets restated an “underperform” rating and set a $25.00 target price on shares of Daqo New Energy in a report on Friday, March 15th. Two research analysts have rated the stock with a sell rating, two have assigned a hold rating and one has given a buy rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and an average target price of $27.63.

Daqo New Energy Stock Up 7.8 %

The stock has a market cap of $1.04 billion, a price-to-earnings ratio of 7.42 and a beta of 0.28. The business’s 50 day simple moving average is $19.28 and its 200 day simple moving average is $21.82.

Daqo New Energy (NYSE:DQ) last announced its quarterly earnings results on Monday, April 29th. The semiconductor company reported $0.24 EPS for the quarter, missing analysts’ consensus estimates of $0.56 by ($0.32). The firm had revenue of $415.31 million during the quarter, compared to analyst estimates of $491.90 million. Daqo New Energy had a net margin of 7.84% and a return on equity of 2.46%. During the same quarter in the prior year, the business earned $3.52 EPS. Equities research analysts forecast that Daqo New Energy Corp. will post 0.98 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Daqo New Energy

Large investors have recently modified their holdings of the stock. Quadrant Capital Group LLC increased its position in Daqo New Energy by 39.4% during the fourth quarter. Quadrant Capital Group LLC now owns 2,348 shares of the semiconductor company’s stock worth $62,000 after acquiring an additional 664 shares during the period. PNC Financial Services Group Inc. increased its position in Daqo New Energy by 117.5% during the fourth quarter. PNC Financial Services Group Inc. now owns 1,588 shares of the semiconductor company’s stock worth $42,000 after acquiring an additional 858 shares during the period. Shell Asset Management Co. increased its position in Daqo New Energy by 20.6% during the first quarter. Shell Asset Management Co. now owns 10,734 shares of the semiconductor company’s stock worth $302,000 after acquiring an additional 1,834 shares during the period. Mitsubishi UFJ Asset Management Co. Ltd. increased its position in Daqo New Energy by 4.1% during the fourth quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 48,744 shares of the semiconductor company’s stock worth $1,184,000 after acquiring an additional 1,899 shares during the period. Finally, Boston Partners increased its position in Daqo New Energy by 3.3% during the first quarter. Boston Partners now owns 78,340 shares of the semiconductor company’s stock worth $2,205,000 after acquiring an additional 2,538 shares during the period. 47.22% of the stock is owned by institutional investors.

About Daqo New Energy

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.