DAQO New Energy Corp. (NYSE:DQ - Get Free Report)'s stock price traded up 7.9% during trading on Thursday . The company traded as high as $21.11 and last traded at $21.40. 353,802 shares changed hands during mid-day trading, a decline of 66% from the average session volume of 1,038,338 shares. The stock had previously closed at $19.83.
Wall Street Analysts Forecast Growth
Several research analysts recently issued reports on the stock. Citigroup began coverage on shares of DAQO New Energy in a report on Friday. They set a "buy" rating and a $27.00 target price for the company. Glj Research upgraded shares of DAQO New Energy from a "sell" rating to a "buy" rating and set a $30.51 target price for the company in a report on Thursday, July 10th. Wall Street Zen upgraded shares of DAQO New Energy to a "sell" rating in a report on Monday, April 21st. 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 research report on Wednesday, April 30th. Finally, The Goldman Sachs Group downgraded shares of DAQO New Energy from a "buy" rating to a "neutral" rating and set a $17.00 price objective on the stock. in a research report on Tuesday, April 15th. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating, four have given a buy rating and two have issued a strong buy rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and a consensus target price of $23.22.
Check Out Our Latest Stock Report on DQ
DAQO New Energy Stock Performance
The company has a market capitalization of $1.41 billion, a price-to-earnings ratio of -3.24 and a beta of 0.60. The company has a 50-day moving average price of $15.57 and a 200-day moving average price of $17.02.
DAQO New Energy (NYSE:DQ - Get Free Report) last issued its quarterly earnings data on Tuesday, April 29th. The semiconductor company reported ($1.07) earnings per share (EPS) for the quarter, missing the consensus estimate of ($1.02) by ($0.05). The business had revenue of $123.91 million during the quarter, compared to analyst estimates of $176.81 million. DAQO New Energy had a negative net margin of 58.63% and a negative return on equity of 7.16%. As a group, sell-side analysts anticipate that DAQO New Energy Corp. will post -3.5 earnings per share for the current fiscal year.
Institutional Inflows and Outflows
A number of institutional investors have recently made changes to their positions in DQ. Prudential PLC bought a new position in DAQO New Energy in the fourth quarter valued at about $14,775,000. Goldman Sachs Group Inc. grew its stake in DAQO New Energy by 117.2% in the first 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. SG Americas Securities LLC acquired a new stake in DAQO New Energy in the first quarter valued at approximately $9,372,000. Hsbc Holdings PLC lifted its holdings in shares of DAQO New Energy by 514.3% in the first quarter. Hsbc Holdings PLC now owns 501,145 shares of the semiconductor company's stock valued at $9,026,000 after purchasing an additional 419,569 shares in the last quarter. Finally, Point72 Asset Management L.P. lifted its holdings in shares of DAQO New Energy by 67.5% in the fourth quarter. Point72 Asset Management L.P. now owns 886,655 shares of the semiconductor company's stock valued at $17,237,000 after purchasing an additional 357,460 shares in the last quarter. 47.22% of the stock is owned by institutional investors and hedge funds.
About DAQO New Energy
(
Get Free Report)
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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