Daqo New Energy (NYSE:DQ) Shares Gap Up - What's Next?

Daqo New Energy Corp. (NYSE:DQ - Get Free Report) shares gapped up before the market opened on Tuesday . The stock had previously closed at $18.62, but opened at $19.17. Daqo New Energy shares last traded at $19.99, with a volume of 384,793 shares traded.

Wall Street Analyst Weigh In

Separately, StockNews.com upgraded shares of Daqo New Energy to a "sell" rating in a research report on Monday, March 3rd. One analyst has rated the stock with a sell rating, one has issued a hold rating, four have given a buy rating and three have given a strong buy rating to the company's stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Buy" and an average target price of $22.26.

Daqo New Energy Stock Up 0.8 %

The stock has a market capitalization of $1.26 billion, a price-to-earnings ratio of -10.31 and a beta of 0.41. The business's 50-day moving average is $19.84 and its two-hundred day moving average is $19.31.

Daqo New Energy (NYSE:DQ - Get Free Report) last posted its earnings results on Thursday, February 27th. The semiconductor company reported ($2.71) earnings per share for the quarter, missing the consensus estimate of ($0.69) by ($2.02). The firm had revenue of $195.36 million during the quarter, compared to analyst estimates of $153.54 million. Daqo New Energy had a negative net margin of 9.16% and a negative return on equity of 1.90%. As a group, analysts forecast that Daqo New Energy Corp. will post -3.5 EPS for the current fiscal year.

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Hedge Funds Weigh In On Daqo New Energy

Institutional investors and hedge funds have recently bought and sold shares of the company. Generali Investments CEE investicni spolecnost a.s. acquired a new position in Daqo New Energy in the 4th quarter valued at about $52,000. Daiwa Securities Group Inc. boosted its holdings in Daqo New Energy by 15.4% in the 3rd quarter. Daiwa Securities Group Inc. now owns 10,500 shares of the semiconductor company's stock valued at $214,000 after purchasing an additional 1,400 shares during the last quarter. Point72 Asia Singapore Pte. Ltd. raised its stake in shares of Daqo New Energy by 66.1% in the 3rd quarter. Point72 Asia Singapore Pte. Ltd. now owns 14,000 shares of the semiconductor company's stock valued at $285,000 after acquiring an additional 5,570 shares during the period. Diametric Capital LP raised its stake in shares of Daqo New Energy by 25.5% in the 4th quarter. Diametric Capital LP now owns 16,018 shares of the semiconductor company's stock valued at $311,000 after acquiring an additional 3,255 shares during the period. Finally, Van ECK Associates Corp raised its stake in shares of Daqo New Energy by 4.3% in the 3rd quarter. Van ECK Associates Corp now owns 18,657 shares of the semiconductor company's stock valued at $415,000 after acquiring an additional 764 shares during the period. 47.22% of the stock is currently owned by institutional investors and hedge funds.

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.