Daqo New Energy (NYSE:DQ) was upgraded by investment analysts at ValuEngine from a “sell” rating to a “hold” rating in a research report issued to clients and investors on Tuesday, ValuEngine reports.
DQ has been the subject of several other research reports. Roth Capital increased their price objective on Daqo New Energy from $120.00 to $150.00 and gave the stock a “buy” rating in a report on Wednesday, August 19th. Zacks Investment Research upgraded Daqo New Energy from a “hold” rating to a “strong-buy” rating and set a $128.00 price objective for the company in a report on Tuesday, July 21st. Finally, TheStreet upgraded Daqo New Energy from a “c” rating to a “b-” rating in a report on Wednesday, June 24th. One analyst has rated the stock with a hold rating, three have issued a buy rating and one has given a strong buy rating to the company. The stock has a consensus rating of “Buy” and a consensus price target of $115.67.
DQ opened at $118.87 on Tuesday. The stock’s 50 day simple moving average is $115.10 and its 200 day simple moving average is $75.33. The company has a debt-to-equity ratio of 0.19, a current ratio of 0.47 and a quick ratio of 0.39. Daqo New Energy has a 1 year low of $35.73 and a 1 year high of $137.03. The firm has a market cap of $1.65 billion, a price-to-earnings ratio of 28.37 and a beta of 0.93.
Daqo New Energy (NYSE:DQ) last posted its quarterly earnings results on Tuesday, August 18th. The semiconductor company reported $0.47 earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.03) by $0.50. Daqo New Energy had a return on equity of 10.52% and a net margin of 12.01%. During the same quarter last year, the business posted $0.16 EPS. As a group, sell-side analysts anticipate that Daqo New Energy will post 9.06 EPS for the current year.
Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Deutsche Bank AG lifted its stake in shares of Daqo New Energy by 27.3% in the 1st quarter. Deutsche Bank AG now owns 90,515 shares of the semiconductor company’s stock valued at $5,242,000 after purchasing an additional 19,393 shares during the period. Jane Street Group LLC purchased a new position in Daqo New Energy during the first quarter valued at $562,000. Alliancebernstein L.P. raised its stake in Daqo New Energy by 150.9% during the first quarter. Alliancebernstein L.P. now owns 77,380 shares of the semiconductor company’s stock valued at $4,482,000 after buying an additional 46,544 shares during the last quarter. Wellington Management Group LLP purchased a new position in Daqo New Energy during the first quarter valued at $239,000. Finally, Invesco Ltd. raised its stake in Daqo New Energy by 4.4% during the first quarter. Invesco Ltd. now owns 449,932 shares of the semiconductor company’s stock valued at $26,060,000 after buying an additional 19,154 shares during the last quarter. Institutional investors own 60.49% of the company’s stock.
About Daqo New Energy
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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