Daqo New Energy (NYSE:DQ) Trading Up 3.9%

Shares of Daqo New Energy Corp. (NYSE:DQ - Get Free Report) shot up 3.9% on Monday . The stock traded as high as $24.25 and last traded at $24.24. 303,446 shares traded hands during mid-day trading, a decline of 76% from the average session volume of 1,280,931 shares. The stock had previously closed at $23.34.

Wall Street Analysts Forecast Growth

Separately, Daiwa Capital Markets reaffirmed an "underperform" rating and issued a $25.00 target price on shares of Daqo New Energy in a research report on Friday, March 15th. One research analyst has rated the stock with a sell rating, two have assigned a hold rating and one has given a buy rating to the company. According to data from MarketBeat.com, the company presently has an average rating of "Hold" and a consensus target price of $36.23.

Daqo New Energy Trading Up 1.7 %

The firm has a market cap of $1.56 billion, a price-to-earnings ratio of 4.39 and a beta of 0.22. The stock has a fifty day moving average price of $23.84 and a 200 day moving average price of $24.18.

Daqo New Energy (NYSE:DQ - Get Free Report) last announced its quarterly earnings data on Wednesday, February 28th. The semiconductor company reported $0.64 EPS for the quarter, missing analysts' consensus estimates of $0.84 by ($0.20). Daqo New Energy had a return on equity of 6.42% and a net margin of 18.24%. The firm had revenue of $477.13 million during the quarter, compared to the consensus estimate of $529.40 million. During the same quarter in the prior year, the business posted $4.71 EPS. On average, sell-side analysts forecast that Daqo New Energy Corp. will post 4.06 EPS for the current year.

Hedge Funds Weigh In On Daqo New Energy

A number of hedge funds have recently modified their holdings of DQ. Toroso Investments LLC acquired a new stake in Daqo New Energy during the 3rd quarter valued at $35,000. PNC Financial Services Group Inc. boosted its position in shares of Daqo New Energy by 117.5% in the 4th quarter. PNC Financial Services Group Inc. now owns 1,588 shares of the semiconductor company's stock worth $42,000 after purchasing an additional 858 shares during the last quarter. US Bancorp DE lifted its holdings in Daqo New Energy by 97.5% during the fourth quarter. US Bancorp DE now owns 1,912 shares of the semiconductor company's stock worth $51,000 after acquiring an additional 944 shares in the last quarter. Atlas Capital Advisors LLC bought a new position in Daqo New Energy during the second quarter worth about $145,000. Finally, Quadrant Capital Group LLC lifted its holdings in Daqo New Energy by 39.4% during the fourth quarter. Quadrant Capital Group LLC now owns 2,348 shares of the semiconductor company's stock worth $62,000 after acquiring an additional 664 shares in the last quarter. 47.22% of the stock is owned by institutional investors and hedge funds.

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.