Shares of DAQO New Energy Corp. (NYSE:DQ - Get Free Report) gapped up before the market opened on Tuesday . The stock had previously closed at $17.45, but opened at $19.27. DAQO New Energy shares last traded at $19.54, with a volume of 1,127,998 shares traded.
Wall Street Analyst Weigh In
DQ has been the topic of a number of research reports. HSBC downgraded shares of DAQO New Energy from a "buy" rating to a "hold" rating and set a $14.00 target price on the stock. in a report on Wednesday, April 30th. Wall Street Zen upgraded 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 report on Tuesday, April 15th. Hsbc Global Res downgraded shares of DAQO New Energy from a "strong-buy" rating to a "hold" rating in a report on Wednesday, April 30th. Finally, Glj Research upgraded shares of DAQO New Energy from a "sell" rating to a "buy" rating and set a $30.51 target price on the stock in a report on Thursday. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating, three have issued a buy rating and two have assigned a strong buy rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and an average target price of $22.59.
Get Our Latest Stock Report on DQ
DAQO New Energy Stock Up 0.4%
The firm's 50-day moving average price is $14.84 and its two-hundred day moving average price is $17.03. The firm has a market capitalization of $1.35 billion, a PE ratio of -3.10 and a beta of 0.60.
DAQO New Energy (NYSE:DQ - Get Free Report) last released its earnings results on Tuesday, April 29th. The semiconductor company reported ($1.07) earnings per share 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 analysts' expectations of $176.81 million. Equities research analysts forecast that DAQO New Energy Corp. will post -3.5 EPS for the current year.
Institutional Inflows and Outflows
Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Continental General Insurance Co. grew its position in DAQO New Energy by 5.8% during the fourth quarter. Continental General Insurance Co. now owns 5,916,202 shares of the semiconductor company's stock valued at $115,011,000 after purchasing an additional 322,084 shares in the last quarter. Northern Trust Corp grew its position in DAQO New Energy by 27.2% during the fourth quarter. Northern Trust Corp now owns 119,786 shares of the semiconductor company's stock valued at $2,329,000 after purchasing an additional 25,647 shares in the last quarter. Prudential PLC purchased a new position in DAQO New Energy during the fourth quarter valued at approximately $14,775,000. Barclays PLC grew its position in DAQO New Energy by 587.8% during the fourth quarter. Barclays PLC now owns 80,750 shares of the semiconductor company's stock valued at $1,570,000 after purchasing an additional 69,010 shares in the last quarter. Finally, AI Squared Management Ltd purchased a new position in DAQO New Energy during the fourth quarter valued at approximately $1,499,000. 47.22% of the stock is owned by hedge funds and other institutional investors.
About DAQO New Energy
(
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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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