DAQO New Energy (NYSE:DQ) Shares Gap Up - Time to Buy?

DAQO New Energy Corp. (NYSE:DQ - Get Free Report)'s stock price gapped up before the market opened on Monday . The stock had previously closed at $15.13, but opened at $15.88. DAQO New Energy shares last traded at $15.03, with a volume of 311,704 shares trading hands.

Analyst Upgrades and Downgrades

Several equities analysts have recently weighed in on the company. Hsbc Global Res downgraded DAQO New Energy from a "strong-buy" rating to a "hold" rating in a report on Wednesday, April 30th. Wall Street Zen raised shares of DAQO New Energy to a "sell" rating in a report on Monday, April 21st. The Goldman Sachs Group downgraded shares of DAQO New Energy from a "buy" rating to a "neutral" rating and set a $17.00 target price on the stock. in a research note on Tuesday, April 15th. Finally, HSBC downgraded shares of DAQO New Energy from a "buy" rating to a "hold" rating and set a $14.00 price target for the company. in a research report on Wednesday, April 30th. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating, two have issued a buy rating and two have issued a strong buy rating to the company. According to MarketBeat, the stock presently has an average rating of "Moderate Buy" and a consensus price target of $21.01.

DAQO New Energy Stock Up 7.0%

The company has a market cap of $1.27 billion, a PE ratio of -2.91 and a beta of 0.60. The company's fifty day moving average is $14.07 and its 200-day moving average is $16.96.

DAQO New Energy (NYSE:DQ - Get Free Report) last issued 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). DAQO New Energy had a negative return on equity of 7.16% and a negative net margin of 58.63%. The firm had revenue of $123.91 million during the quarter, compared to the consensus estimate of $176.81 million. Equities 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

A number of institutional investors have recently added to or reduced their stakes in DQ. Caitong International Asset Management Co. Ltd lifted its position in DAQO New Energy by 86,700.0% during the first quarter. Caitong International Asset Management Co. Ltd now owns 1,736 shares of the semiconductor company's stock valued at $31,000 after purchasing an additional 1,734 shares during the last quarter. Generali Investments CEE investicni spolecnost a.s. purchased a new stake in DAQO New Energy in the 4th quarter valued at about $52,000. Virtu Financial LLC purchased a new position in DAQO New Energy during the 1st quarter worth $187,000. Vident Advisory LLC bought a new stake in shares of DAQO New Energy in the 1st quarter valued at about $216,000. Finally, Harvest Portfolios Group Inc. bought a new stake in shares of DAQO New Energy in the 1st quarter valued at about $305,000. 47.22% of the stock is owned by hedge funds and other institutional investors.

DAQO New Energy Company Profile

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.