Daqo New Energy (NYSE:DQ) Shares Up 5.3% - Time to Buy?

Daqo New Energy Corp. (NYSE:DQ - Get Free Report) rose 5.3% during trading on Tuesday . The company traded as high as $18.16 and last traded at $18.12. Approximately 374,211 shares traded hands during trading, a decline of 68% from the average daily volume of 1,164,988 shares. The stock had previously closed at $17.21.

Wall Street Analysts Forecast Growth

Several equities analysts recently weighed in on DQ shares. Daiwa America upgraded Daqo New Energy from a "hold" rating to a "strong-buy" rating in a research note on Wednesday, October 30th. Roth Mkm reduced their target price on Daqo New Energy from $23.00 to $15.00 and set a "neutral" rating for the company in a research note on Wednesday, August 28th. HSBC raised shares of Daqo New Energy from a "hold" rating to a "buy" rating in a research note on Wednesday, October 2nd. Jefferies Financial Group reduced their price objective on shares of Daqo New Energy from $38.40 to $34.05 and set a "buy" rating for the company in a research report on Monday, August 26th. Finally, Hsbc Global Res upgraded shares of Daqo New Energy from a "hold" rating to a "strong-buy" rating in a research report on Wednesday, October 2nd. One research 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. According to data from MarketBeat.com, Daqo New Energy has a consensus rating of "Buy" and an average price target of $22.26.

Daqo New Energy Stock Performance

The firm's 50 day moving average price is $20.55 and its two-hundred day moving average price is $18.36. The firm has a market cap of $1.19 billion, a PE ratio of -9.30 and a beta of 0.28.

Daqo New Energy (NYSE:DQ - Get Free Report) last issued its quarterly earnings data on Wednesday, October 30th. The semiconductor company reported ($0.92) earnings per share (EPS) for the quarter, missing analysts' consensus estimates 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 for the quarter, compared to analyst estimates of $186.90 million. During the same period in the previous year, the business posted ($0.09) earnings per share. On average, analysts forecast that Daqo New Energy Corp. will post -3.5 earnings per share for the current year.

Institutional Inflows and Outflows

Several large investors have recently modified their holdings of DQ. Signaturefd LLC boosted its stake 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 purchasing an additional 602 shares during the period. Van ECK Associates Corp raised its holdings in shares of Daqo New Energy by 4.3% in the third quarter. Van ECK Associates Corp now owns 18,657 shares of the semiconductor company's stock valued at $415,000 after buying an additional 764 shares during the last quarter. Daiwa Securities Group Inc. boosted its stake in shares of Daqo New Energy by 15.4% during the third quarter. Daiwa Securities Group Inc. now owns 10,500 shares of the semiconductor company's stock worth $214,000 after buying an additional 1,400 shares during the period. Rhumbline Advisers grew its holdings in shares of Daqo New Energy by 22.2% during the second quarter. Rhumbline Advisers now owns 8,104 shares of the semiconductor company's stock worth $118,000 after buying an additional 1,470 shares during the last quarter. Finally, Blue Trust Inc. increased its position in Daqo New Energy by 12,187.5% in the 2nd quarter. Blue Trust Inc. now owns 1,966 shares of the semiconductor company's stock valued at $29,000 after acquiring an additional 1,950 shares during the period. Institutional investors and hedge funds own 47.22% of the company's stock.

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.

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