Daqo New Energy (NYSE:DQ) Shares Up 5.3% – What’s Next?

Daqo New Energy Corp. (NYSE:DQ) shot up 5.3% during mid-day trading on Tuesday . The stock traded as high as $18.16 and last traded at $18.12. 374,211 shares were traded during trading, a decline of 68% from the average session volume of 1,164,988 shares. The stock had previously closed at $17.21.

Analysts Set New Price Targets

A number of equities research analysts have weighed in on DQ shares. Roth Mkm lowered their price objective on Daqo New Energy from $23.00 to $15.00 and set a “neutral” rating on the stock in a report on Wednesday, August 28th. StockNews.com raised Daqo New Energy to a “sell” rating in a report on Monday, September 23rd. Daiwa America raised shares of Daqo New Energy from a “hold” rating to a “strong-buy” rating in a report on Wednesday, October 30th. Jefferies Financial Group lowered their target price on shares of Daqo New Energy from $38.40 to $34.05 and set a “buy” rating on the stock in a research report on Monday, August 26th. Finally, Nomura Securities upgraded shares of Daqo New Energy to a “strong-buy” rating in a research report on Wednesday, August 28th. One equities research analyst has rated the stock with a sell rating, one has issued a hold rating, four have given a buy rating and three have assigned a strong buy rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Buy” and a consensus price target of $22.26.

Daqo New Energy Price Performance

The company has a market cap of $1.19 billion, a PE ratio of -9.30 and a beta of 0.28. The firm has a 50-day simple moving average of $20.55 and a two-hundred day simple moving average of $18.36.

Daqo New Energy (NYSE:DQ) last posted its quarterly earnings data on Wednesday, October 30th. The semiconductor company reported ($0.92) EPS for the quarter, missing analysts’ consensus estimates of ($0.80) by ($0.12). The company had revenue of $198.50 million for the quarter, compared to analysts’ expectations of $186.90 million. Daqo New Energy had a negative return on equity of 1.90% and a negative net margin of 9.16%. During the same quarter in the prior year, the business posted ($0.09) EPS. Equities research analysts forecast that Daqo New Energy Corp. will post -3.5 EPS for the current year.

Hedge Funds Weigh In On Daqo New Energy

Institutional investors have recently added to or reduced their stakes in the business. SG Americas Securities LLC grew its position in Daqo New Energy by 327.1% during the second quarter. SG Americas Securities LLC now owns 20,561 shares of the semiconductor company’s stock valued at $300,000 after acquiring an additional 15,747 shares during the period. Blue Trust Inc. lifted its stake in shares of Daqo New Energy by 12,187.5% in the 2nd quarter. Blue Trust Inc. now owns 1,966 shares of the semiconductor company’s stock valued at $29,000 after purchasing an additional 1,950 shares in the last quarter. Ariose Capital Management Ltd grew its holdings in shares of Daqo New Energy by 23.9% during the 2nd quarter. Ariose Capital Management Ltd now owns 1,181,124 shares of the semiconductor company’s stock worth $17,244,000 after purchasing an additional 228,200 shares during the period. Waterfront Wealth Inc. increased its position in Daqo New Energy by 11.2% during the 2nd quarter. Waterfront Wealth Inc. now owns 103,893 shares of the semiconductor company’s stock worth $1,517,000 after purchasing an additional 10,498 shares in the last quarter. Finally, Rhumbline Advisers raised its holdings in Daqo New Energy by 22.2% in the second quarter. Rhumbline Advisers now owns 8,104 shares of the semiconductor company’s stock valued at $118,000 after buying an additional 1,470 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.