Daqo New Energy (NYSE:DQ) Trading 9.9% Higher - Should You Buy?

Daqo New Energy Corp. (NYSE:DQ - Get Free Report)'s share price traded up 9.9% during trading on Wednesday . The company traded as high as $22.48 and last traded at $22.50. 378,533 shares traded hands during trading, a decline of 51% from the average session volume of 774,388 shares. The stock had previously closed at $20.47.

Daqo New Energy Price Performance

The business has a fifty day simple moving average of $19.81 and a 200 day simple moving average of $19.19. The firm has a market cap of $1.34 billion, a price-to-earnings ratio of -10.99 and a beta of 0.25.

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

Institutional Investors Weigh In On Daqo New Energy

Several hedge funds and other institutional investors have recently made changes to their positions in DQ. Van ECK Associates Corp increased 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 purchasing an additional 764 shares during the last quarter. KBC Group NV grew its position in Daqo New Energy by 12.9% in the third quarter. KBC Group NV now owns 25,244 shares of the semiconductor company's stock worth $514,000 after acquiring an additional 2,877 shares during the period. Daiwa Securities Group Inc. grew its position in 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 acquiring an additional 1,400 shares during the period. BNP Paribas Financial Markets grew its position in Daqo New Energy by 57.5% in the third quarter. BNP Paribas Financial Markets now owns 74,571 shares of the semiconductor company's stock worth $1,519,000 after acquiring an additional 27,223 shares during the period. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its position in Daqo New Energy by 32.2% in the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 135,732 shares of the semiconductor company's stock worth $2,765,000 after acquiring an additional 33,031 shares during the period. Institutional investors and hedge funds own 47.22% of the company's stock.

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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.