Daqo New Energy (NYSE:DQ) Stock Price Up 5.8%

Daqo New Energy Corp (NYSE:DQ)’s stock price rose 5.8% on Monday . The company traded as high as $51.29 and last traded at $51.01, approximately 241,251 shares traded hands during mid-day trading. A decline of 10% from the average daily volume of 268,422 shares. The stock had previously closed at $48.20.

DQ has been the topic of a number of analyst reports. Zacks Investment Research lowered shares of Daqo New Energy from a “hold” rating to a “sell” rating in a research report on Monday. ValuEngine upgraded shares of Daqo New Energy from a “hold” rating to a “buy” rating in a research report on Monday, June 3rd. Finally, Roth Capital reiterated a “buy” rating on shares of Daqo New Energy in a research report on Wednesday, August 14th.

The company has a market capitalization of $536.63 million, a PE ratio of 11.49, a price-to-earnings-growth ratio of 0.88 and a beta of 1.59. The firm’s 50-day simple moving average is $46.60 and its 200 day simple moving average is $40.17. The company has a debt-to-equity ratio of 0.28, a quick ratio of 0.48 and a current ratio of 0.56.

Daqo New Energy (NYSE:DQ) last issued its earnings results on Wednesday, August 14th. The semiconductor company reported ($0.20) EPS for the quarter, missing the consensus estimate of ($0.11) by ($0.09). The company had revenue of $65.96 million for the quarter, compared to analysts’ expectations of $69.80 million. Daqo New Energy had a positive return on equity of 5.57% and a negative net margin of 0.85%. During the same quarter in the previous year, the firm posted $1.36 earnings per share. As a group, equities analysts anticipate that Daqo New Energy Corp will post 1.86 earnings per share for the current year.

Several hedge funds and other institutional investors have recently modified their holdings of DQ. Atria Investments LLC purchased a new stake in shares of Daqo New Energy in the 2nd quarter worth about $123,000. Harvest Fund Management Co. Ltd boosted its position in shares of Daqo New Energy by 250.6% in the 2nd quarter. Harvest Fund Management Co. Ltd now owns 454,211 shares of the semiconductor company’s stock worth $19,245,000 after buying an additional 324,657 shares in the last quarter. Amundi Pioneer Asset Management Inc. boosted its position in shares of Daqo New Energy by 57.3% in the 2nd quarter. Amundi Pioneer Asset Management Inc. now owns 34,618 shares of the semiconductor company’s stock worth $6,117,000 after buying an additional 12,617 shares in the last quarter. Voloridge Investment Management LLC purchased a new stake in shares of Daqo New Energy in the 2nd quarter worth about $582,000. Finally, Pictet Asset Management Ltd. purchased a new stake in shares of Daqo New Energy in the 2nd quarter worth about $203,000. Institutional investors own 36.91% of the company’s stock.

About Daqo New Energy (NYSE:DQ)

Daqo New Energy Corp., together with its subsidiaries, manufactures and sells polysilicon and wafers in the People's Republic of China. It operates through two segments, Polysilicon and Wafers. The company offers polysilicon to photovoltaic product manufacturers who further process its polysilicon into ingots, wafers, cells, and modules for solar power solutions.

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