Daqo New Energy (NYSE:DQ) Shares Up 8% - Time to Buy?

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

Analysts Set New Price Targets

A number of equities analysts recently issued reports on DQ shares. Wall Street Zen upgraded shares of Daqo New Energy to a "sell" rating in a research report on Monday, April 21st. Hsbc Global Res cut shares of Daqo New Energy from a "strong-buy" rating to a "hold" rating in a report on Wednesday, April 30th. The Goldman Sachs Group cut 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. Finally, HSBC lowered Daqo New Energy from a "buy" rating to a "hold" rating and set a $14.00 price target for the company. in a research note on Wednesday, April 30th. One investment analyst has rated the stock with a sell rating, four have given a hold rating, two have issued a buy rating and two have given a strong buy rating to the company's stock. According to MarketBeat, Daqo New Energy 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 $973.13 million, a P/E ratio of -7.83 and a beta of 0.59. The firm has a 50 day moving average price of $14.11 and a two-hundred day moving average price of $17.60.

Daqo New Energy (NYSE:DQ - Get Free Report) last announced its earnings results 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 1.90% and a negative net margin of 9.16%. The firm had revenue of $123.91 million during the quarter, compared to analyst estimates of $176.81 million. Equities research analysts forecast that Daqo New Energy Corp. will post -3.5 earnings per share for the current fiscal year.

Institutional Trading of Daqo New Energy

Several hedge funds and other institutional investors have recently modified their holdings of the business. Van ECK Associates Corp lifted its position in shares of Daqo New Energy by 7.6% in the fourth quarter. Van ECK Associates Corp now owns 20,067 shares of the semiconductor company's stock worth $390,000 after purchasing an additional 1,410 shares in the last quarter. Greenwoods Asset Management Hong Kong Ltd. boosted its stake 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 valued at $52,775,000 after buying an additional 2,664,381 shares during the period. Generali Investments CEE investicni spolecnost a.s. acquired a new stake in shares of Daqo New Energy during the 4th quarter valued at $52,000. American Century Companies Inc. grew its holdings in shares of 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 valued at $4,097,000 after acquiring an additional 17,880 shares in the last quarter. Finally, AI Squared Management Ltd purchased a new stake in shares of Daqo New Energy during the 4th quarter worth about $1,499,000. Institutional investors and hedge funds own 47.22% of the company's stock.

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.

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