Daqo New Energy Corp (NYSE:DQ)’s stock price crossed above its 200-day moving average during trading on Monday . The stock has a 200-day moving average of $45.13 and traded as high as $54.60. Daqo New Energy shares last traded at $53.63, with a volume of 220,945 shares traded.
DQ has been the subject of several research analyst reports. Zacks Investment Research upgraded Daqo New Energy from a “hold” rating to a “strong-buy” rating and set a $63.00 target price for the company in a research report on Friday, January 3rd. ValuEngine raised Daqo New Energy from a “sell” rating to a “hold” rating in a research note on Tuesday, December 3rd. Finally, JPMorgan Chase & Co. assumed coverage on Daqo New Energy in a research note on Thursday, November 14th. They set an “overweight” rating and a $50.00 price target for the company.
The business has a 50 day moving average of $49.79 and a 200 day moving average of $45.13. The company has a market capitalization of $581.35 million, a P/E ratio of 35.28, a price-to-earnings-growth ratio of 0.23 and a beta of 1.74. The company has a quick ratio of 0.36, a current ratio of 0.43 and a debt-to-equity ratio of 0.31.
Daqo New Energy (NYSE:DQ) last announced its quarterly earnings results on Tuesday, November 12th. The semiconductor company reported $0.67 EPS for the quarter, beating analysts’ consensus estimates of $0.43 by $0.24. Daqo New Energy had a return on equity of 5.68% and a net margin of 6.79%. The company had revenue of $83.91 million during the quarter, compared to analyst estimates of $85.60 million. During the same period in the prior year, the company earned $0.32 earnings per share. On average, research analysts anticipate that Daqo New Energy Corp will post 1.9 EPS for the current year.
A number of institutional investors have recently made changes to their positions in DQ. Pictet Asset Management Ltd. bought a new stake in shares of Daqo New Energy in the 2nd quarter valued at approximately $203,000. Jane Street Group LLC purchased a new position in shares of Daqo New Energy in the 2nd quarter valued at $239,000. Point72 Asset Management L.P. purchased a new position in shares of Daqo New Energy in the 3rd quarter valued at $267,000. First Trust Advisors LP increased its holdings in shares of Daqo New Energy by 3.8% in the 1st quarter. First Trust Advisors LP now owns 9,808 shares of the semiconductor company’s stock valued at $324,000 after acquiring an additional 359 shares during the period. Finally, Northern Trust Corp increased its holdings in shares of Daqo New Energy by 8.0% in the 2nd quarter. Northern Trust Corp now owns 12,262 shares of the semiconductor company’s stock valued at $519,000 after acquiring an additional 912 shares during the period. 39.94% of the stock is owned by institutional investors.
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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