DAQO New Energy (NYSE:DQ) Sees Large Volume Increase - What's Next?

DAQO New Energy Corp. (NYSE:DQ - Get Free Report) shares saw strong trading volume on Wednesday . 1,092,941 shares were traded during mid-day trading, an increase of 11% from the previous session's volume of 987,450 shares.The stock last traded at $17.65 and had previously closed at $15.30.

Analysts Set New Price Targets

DQ has been the topic of a number of recent research reports. The Goldman Sachs Group cut shares of DAQO New Energy from a "buy" rating to a "neutral" rating and set a $17.00 price objective on the stock. in a research note on Tuesday, April 15th. Wall Street Zen raised shares of DAQO New Energy to a "sell" rating in a research note on Monday, April 21st. Hsbc Global Res cut shares of DAQO New Energy from a "strong-buy" rating to a "hold" rating in a research note on Wednesday, April 30th. Finally, HSBC cut shares of DAQO New Energy from a "buy" rating to a "hold" rating and set a $14.00 price objective on the stock. in a research note on Wednesday, April 30th. One equities research analyst has rated the stock with a sell rating, four have given a hold rating, two have given a buy rating and two have given a strong buy rating to the stock. According to MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average target price of $21.01.

DAQO New Energy Stock Performance

The firm has a market capitalization of $1.27 billion, a P/E ratio of -2.91 and a beta of 0.60. The firm's 50-day moving average is $14.24 and its 200 day moving average is $16.98.

DAQO New Energy (NYSE:DQ - Get Free Report) last posted its quarterly earnings data on Tuesday, April 29th. The semiconductor company reported ($1.07) EPS for the quarter, missing the consensus estimate of ($1.02) by ($0.05). The company had revenue of $123.91 million during the quarter, compared to the consensus estimate of $176.81 million. DAQO New Energy had a negative net margin of 58.63% and a negative return on equity of 7.16%. As a group, research analysts expect that DAQO New Energy Corp. will post -3.5 EPS for the current fiscal year.

Institutional Investors Weigh In On DAQO New Energy

Institutional investors have recently added to or reduced their stakes in the stock. Greenwoods Asset Management Hong Kong Ltd. lifted its position in DAQO New Energy by 5,286.6% during the 4th quarter. Greenwoods Asset Management Hong Kong Ltd. now owns 2,714,780 shares of the semiconductor company's stock worth $52,775,000 after buying an additional 2,664,381 shares in the last quarter. Generali Investments CEE investicni spolecnost a.s. bought a new stake in DAQO New Energy during the 4th quarter worth about $52,000. American Century Companies Inc. lifted its position in DAQO New Energy by 9.3% during the 4th quarter. American Century Companies Inc. now owns 210,738 shares of the semiconductor company's stock worth $4,097,000 after buying an additional 17,880 shares in the last quarter. AI Squared Management Ltd bought a new stake in DAQO New Energy during the 4th quarter worth about $1,499,000. Finally, O Shaughnessy Asset Management LLC lifted its position in DAQO New Energy by 37.2% during the 4th quarter. O Shaughnessy Asset Management LLC now owns 45,788 shares of the semiconductor company's stock worth $890,000 after buying an additional 12,409 shares in the last quarter. 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.