Daqo New Energy Corp. (NYSE:DQ - Get Free Report)'s stock price gapped down before the market opened on Tuesday . The stock had previously closed at $14.40, but opened at $13.90. Daqo New Energy shares last traded at $13.92, with a volume of 148,907 shares changing hands.
Wall Street Analysts Forecast Growth
DQ has been the subject of several analyst reports. Hsbc Global Res cut shares of Daqo New Energy from a "strong-buy" rating to a "hold" rating in a research report on Wednesday, April 30th. Wall Street Zen raised Daqo New Energy to a "sell" rating in a research note on Monday, April 21st. The Goldman Sachs Group downgraded Daqo New Energy from a "buy" rating to a "neutral" rating and set a $17.00 price target on the stock. in a report on Tuesday, April 15th. Finally, HSBC cut Daqo New Energy from a "buy" rating to a "hold" rating and set a $14.00 price objective for the company. in a report on Wednesday, April 30th. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating, two have given a buy rating and two have given a strong buy rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and a consensus target price of $21.01.
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Daqo New Energy Stock Performance
The stock has a market cap of $940.81 million, a P/E ratio of -7.61 and a beta of 0.59. The firm has a 50-day moving average price of $13.90 and a 200-day moving average price of $17.32.
Daqo New Energy (NYSE:DQ - Get Free Report) last posted its quarterly earnings data on Tuesday, April 29th. The semiconductor company reported ($1.07) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of ($1.02) by ($0.05). Daqo New Energy had a negative return on equity of 1.90% and a negative net margin of 9.16%. The firm had revenue of $123.91 million during the quarter, compared to the consensus estimate of $176.81 million. On average, research analysts predict that Daqo New Energy Corp. will post -3.5 earnings per share for the current year.
Hedge Funds Weigh In On Daqo New Energy
A number of institutional investors and hedge funds have recently made changes to their positions in the business. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC grew its stake in shares of Daqo New Energy by 34.4% in the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 174,912 shares of the semiconductor company's stock worth $3,168,000 after buying an additional 44,780 shares during the last quarter. Caxton Associates LLP purchased a new stake in shares of Daqo New Energy in the first quarter worth $1,705,000. Goldman Sachs Group Inc. increased its holdings in shares of Daqo New Energy by 117.2% during the first quarter. Goldman Sachs Group Inc. now owns 1,159,835 shares of the semiconductor company's stock valued at $21,005,000 after acquiring an additional 625,900 shares in the last quarter. Millennium Management LLC increased its holdings in shares of Daqo New Energy by 1,261.0% during the first quarter. Millennium Management LLC now owns 354,596 shares of the semiconductor company's stock valued at $6,422,000 after acquiring an additional 328,541 shares in the last quarter. Finally, Vident Advisory LLC purchased a new position in shares of Daqo New Energy in the 1st quarter worth about $216,000. Institutional investors own 47.22% of the company's stock.
About Daqo New Energy
(
Get Free Report)
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.
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