Daqo New Energy Corp. (NYSE:DQ - Get Free Report)'s share price traded down 4.4% during trading on Monday . The stock traded as low as $17.21 and last traded at $17.58. 228,883 shares were traded during trading, a decline of 80% from the average session volume of 1,165,014 shares. The stock had previously closed at $18.39.
Analyst Ratings Changes
DQ has been the subject of a number of analyst reports. Hsbc Global Res upgraded Daqo New Energy from a "hold" rating to a "strong-buy" rating in a research report on Wednesday, October 2nd. HSBC raised Daqo New Energy from a "hold" rating to a "buy" rating in a report on Wednesday, October 2nd. Roth Mkm decreased their price objective on Daqo New Energy from $23.00 to $15.00 and set a "neutral" rating on the stock in a research report on Wednesday, August 28th. Nomura Securities upgraded Daqo New Energy to a "strong-buy" rating in a report on Wednesday, August 28th. Finally, StockNews.com raised Daqo New Energy to a "sell" rating in a research report on Monday, September 23rd. One analyst has rated the stock with a sell rating, one has given a hold rating, four have assigned a buy rating and three have assigned a strong buy rating to the stock. According to MarketBeat, Daqo New Energy currently has an average rating of "Buy" and a consensus price target of $22.26.
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Daqo New Energy Stock Down 6.4 %
The company has a market capitalization of $1.14 billion, a PE ratio of -9.30 and a beta of 0.28. The firm's 50 day simple moving average is $20.55 and its 200 day simple moving average is $18.36.
Daqo New Energy (NYSE:DQ - Get Free Report) last issued its quarterly earnings results on Wednesday, October 30th. The semiconductor company reported ($0.92) earnings per share for the quarter, missing the consensus estimate of ($0.80) by ($0.12). Daqo New Energy had a negative return on equity of 1.90% and a negative net margin of 9.16%. The business had revenue of $198.50 million during the quarter, compared to analyst estimates of $186.90 million. During the same quarter last year, the company posted ($0.09) EPS. As a group, sell-side analysts predict that Daqo New Energy Corp. will post -3.5 EPS for the current fiscal year.
Institutional Investors Weigh In On Daqo New Energy
A number of institutional investors and hedge funds have recently added to or reduced their stakes in DQ. Blue Trust Inc. grew its holdings in Daqo New Energy by 12,187.5% in the second quarter. Blue Trust Inc. now owns 1,966 shares of the semiconductor company's stock valued at $29,000 after purchasing an additional 1,950 shares during the last quarter. Signaturefd LLC lifted its position in Daqo New Energy by 27.3% during the 3rd quarter. Signaturefd LLC now owns 2,809 shares of the semiconductor company's stock worth $57,000 after acquiring an additional 602 shares in the last quarter. AXA S.A. lifted its position in Daqo New Energy by 202.3% during the 2nd quarter. AXA S.A. now owns 6,387 shares of the semiconductor company's stock worth $93,000 after acquiring an additional 4,274 shares in the last quarter. Rhumbline Advisers lifted its position in Daqo New Energy by 22.2% during the 2nd quarter. Rhumbline Advisers now owns 8,104 shares of the semiconductor company's stock worth $118,000 after acquiring an additional 1,470 shares in the last quarter. Finally, Harel Insurance Investments & Financial Services Ltd. increased its holdings in Daqo New Energy by 37.9% during the 2nd quarter. Harel Insurance Investments & Financial Services Ltd. now owns 14,442 shares of the semiconductor company's stock worth $211,000 after purchasing an additional 3,970 shares during the last quarter. Hedge funds and other institutional investors own 47.22% of the company's stock.
Daqo New Energy Company Profile
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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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