Daqo New Energy (NYSE:DQ) Releases Quarterly Earnings Results, Misses Estimates By $2.02 EPS

Daqo New Energy (NYSE:DQ) released its quarterly earnings results on Thursday. The semiconductor company reported ($2.71) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.69) by ($2.02), Zacks reports. Daqo New Energy had a negative return on equity of 1.90% and a negative net margin of 9.16%.

Daqo New Energy Stock Performance

Shares of NYSE:DQ traded up $0.20 on Thursday, hitting $22.09. 855,998 shares of the company’s stock were exchanged, compared to its average volume of 800,567. Daqo New Energy has a 1-year low of $13.62 and a 1-year high of $30.85. The company has a market capitalization of $1.46 billion, a PE ratio of -11.97 and a beta of 0.25. The firm’s 50-day moving average is $19.67 and its 200 day moving average is $19.12.

Analyst Ratings Changes

A number of equities analysts recently weighed in on the stock. Daiwa America raised shares of Daqo New Energy from a “hold” rating to a “strong-buy” rating in a research report on Wednesday, October 30th. Daiwa Capital Markets upgraded Daqo New Energy from a “neutral” rating to an “outperform” rating in a report on Wednesday, October 30th. 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 given a strong buy rating to the company’s stock. According to data from MarketBeat.com, Daqo New Energy has an average rating of “Buy” and a consensus target price of $22.26.

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.