Daqo New Energy (NYSE:DQ) Shares Up 5.6% - Time to Buy?

Daqo New Energy Corp. (NYSE:DQ - Get Free Report)'s share price rose 5.6% during trading on Wednesday . The company traded as high as $20.77 and last traded at $20.87. Approximately 311,103 shares were traded during mid-day trading, a decline of 70% from the average daily volume of 1,026,651 shares. The stock had previously closed at $19.77.

Wall Street Analysts Forecast Growth

Separately, StockNews.com raised Daqo New Energy to a "sell" rating in a report on Tuesday, March 18th. One equities research analyst has rated the stock with a sell rating, one has issued a hold rating, four have issued a buy rating and three have issued a strong buy rating to the stock. Based on data from MarketBeat, Daqo New Energy presently has a consensus rating of "Buy" and a consensus price target of $22.26.

Daqo New Energy Stock Down 3.3 %

The company has a market cap of $1.27 billion, a P/E ratio of -10.44 and a beta of 0.41. The business has a fifty day simple moving average of $19.63 and a two-hundred day simple moving average of $19.62.

Daqo New Energy (NYSE:DQ - Get Free Report) last issued its quarterly 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 business had revenue of $195.36 million for the quarter, compared to analysts' expectations of $153.54 million. Daqo New Energy had a negative return on equity of 1.90% and a negative net margin of 9.16%. On average, equities analysts predict that Daqo New Energy Corp. will post -3.5 EPS for the current fiscal year.

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Institutional Trading of Daqo New Energy

Hedge funds have recently bought and sold shares of the stock. Generali Investments CEE investicni spolecnost a.s. purchased a new stake in Daqo New Energy in the 4th quarter worth approximately $52,000. Daiwa Securities Group Inc. increased its stake in shares of Daqo New Energy by 15.4% in the third quarter. Daiwa Securities Group Inc. now owns 10,500 shares of the semiconductor company's stock worth $214,000 after purchasing an additional 1,400 shares in the last quarter. Point72 Asia Singapore Pte. Ltd. raised its holdings in Daqo New Energy by 66.1% during the third 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 boosted its stake in shares of Daqo New Energy by 25.5% in the fourth quarter. Diametric Capital LP now owns 16,018 shares of the semiconductor company's stock worth $311,000 after acquiring an additional 3,255 shares during the period. Finally, Van ECK Associates Corp lifted its holdings in Daqo New Energy by 7.6% in the 4th quarter. Van ECK Associates Corp now owns 20,067 shares of the semiconductor company's stock worth $390,000 after purchasing an additional 1,410 shares in the last quarter. Institutional investors own 47.22% of the company's stock.

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.