Daqo New Energy (NYSE:DQ) Shares Up 8% - Still a Buy?

Daqo New Energy Corp. (NYSE:DQ - Get Free Report) shot up 8% on Friday . The company traded as high as $14.66 and last traded at $14.71. 258,247 shares traded hands during mid-day trading, a decline of 74% from the average session volume of 997,843 shares. The stock had previously closed at $13.62.

Analyst Upgrades and Downgrades

A number of research firms have recently weighed in on DQ. HSBC cut Daqo New Energy from a "buy" rating to a "hold" rating and set a $14.00 price target for the company. in a report on Wednesday, April 30th. The Goldman Sachs Group lowered Daqo New Energy from a "buy" rating to a "neutral" rating and set a $17.00 target price for the company. in a research note on Tuesday, April 15th. Wall Street Zen upgraded Daqo New Energy to a "sell" rating in a research note on Monday, April 21st. Finally, Hsbc Global Res lowered Daqo New Energy from a "strong-buy" rating to a "hold" rating in a research note on Wednesday, April 30th. One research analyst has rated the stock with a sell rating, four have assigned a hold rating, two have assigned a buy rating and two have given a strong buy rating to the company's stock. According to data from MarketBeat, the company presently has an average rating of "Moderate Buy" and an average price target of $21.01.

Daqo New Energy Trading Up 1.6%

The business has a 50-day moving average price of $13.97 and a two-hundred day moving average price of $17.51. The firm has a market capitalization of $979.37 million, a price-to-earnings ratio of -7.89 and a beta of 0.59.

Daqo New Energy (NYSE:DQ - Get Free Report) last announced its quarterly earnings results on Tuesday, April 29th. The semiconductor company reported ($1.07) earnings per share for the quarter, missing analysts' consensus estimates of ($1.02) by ($0.05). The company had revenue of $123.91 million for the quarter, compared to analyst estimates of $176.81 million. Daqo New Energy had a negative return on equity of 1.90% and a negative net margin of 9.16%. On average, equities research analysts predict that Daqo New Energy Corp. will post -3.5 earnings per share for the current fiscal year.

Institutional Trading of Daqo New Energy

A number of institutional investors and hedge funds have recently made changes to their positions in the stock. Continental General Insurance Co. raised its position in shares of Daqo New Energy by 0.8% during the 1st quarter. Continental General Insurance Co. now owns 5,966,202 shares of the semiconductor company's stock worth $108,048,000 after purchasing an additional 50,000 shares during the period. Greenwoods Asset Management Hong Kong Ltd. raised its position in shares of 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 purchasing an additional 2,664,381 shares during the period. Vanguard Group Inc. increased its position in Daqo New Energy by 1.5% in the 1st quarter. Vanguard Group Inc. now owns 1,745,544 shares of the semiconductor company's stock valued at $31,612,000 after acquiring an additional 26,359 shares during the period. Goldman Sachs Group Inc. increased its position in Daqo New Energy by 117.2% in the 1st 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 during the period. Finally, Point72 Asset Management L.P. increased its position in Daqo New Energy by 67.5% in the 4th quarter. Point72 Asset Management L.P. now owns 886,655 shares of the semiconductor company's stock valued at $17,237,000 after acquiring an additional 357,460 shares during the period. 47.22% of the stock is currently owned by institutional investors and hedge funds.

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.