DAQO New Energy (NYSE:DQ) Stock Price Up 8% - Here's Why

Shares of DAQO New Energy Corp. (NYSE:DQ - Get Free Report) traded up 8% during mid-day trading on Thursday . The stock traded as high as $24.70 and last traded at $25.05. 512,550 shares changed hands during trading, a decline of 47% from the average session volume of 960,773 shares. The stock had previously closed at $23.19.

Analyst Upgrades and Downgrades

DQ has been the topic of several recent research reports. HSBC lowered 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. 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 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 report on Tuesday, April 15th. Citigroup began coverage on shares of DAQO New Energy in a research report on Friday, July 18th. They set a "buy" rating and a $27.00 price target for the company. Finally, Wall Street Zen raised DAQO New Energy to a "sell" rating in a research note on Monday, April 21st. One analyst has rated the stock with a sell rating, four have given a hold rating, four have given a buy rating and two have assigned a strong buy rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and an average price target of $23.22.

DAQO New Energy Price Performance

The company has a market capitalization of $1.68 billion, a PE ratio of -3.85 and a beta of 0.60. The business has a 50-day moving average of $15.90 and a 200 day moving average of $17.07.

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 analysts' consensus estimates 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 company had revenue of $123.91 million during the quarter, compared to analysts' expectations of $176.81 million. As a group, research analysts anticipate that DAQO New Energy Corp. will post -3.5 EPS for the current year.

Institutional Inflows and Outflows

Large investors have recently modified their holdings of the business. Continental General Insurance Co. increased its holdings 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 buying an additional 322,084 shares during the period. Northern Trust Corp lifted its holdings in shares of DAQO New Energy by 27.2% during the 4th 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 during the last quarter. Prudential PLC acquired a new position in shares of DAQO New Energy during the fourth quarter valued at about $14,775,000. Barclays PLC increased its stake in DAQO New Energy by 587.8% during the 4th 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, Hsbc Holdings PLC raised its holdings in shares of DAQO New Energy by 381.6% in the fourth quarter. Hsbc Holdings PLC now owns 81,576 shares of the semiconductor company's stock worth $1,586,000 after buying an additional 64,639 shares during the last quarter. Hedge funds and other institutional investors own 47.22% of the company's stock.

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.

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