Daqo New Energy (NYSE:DQ) Trading Up 3.3% – Here’s What Happened

Shares of Daqo New Energy Corp. (NYSE:DQ) traded up 3.3% on Tuesday . The company traded as high as $18.85 and last traded at $18.66. 226,414 shares traded hands during trading, a decline of 78% from the average session volume of 1,023,609 shares. The stock had previously closed at $18.06.

Analysts Set New Price Targets

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

Daqo New Energy Stock Performance

The company has a market cap of $1.21 billion, a P/E ratio of -9.89 and a beta of 0.41. The firm’s 50-day simple moving average is $19.58 and its 200 day simple moving average is $19.68.

Daqo New Energy (NYSE:DQ) last released 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). 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. As a group, research analysts forecast that Daqo New Energy Corp. will post -3.5 earnings per share for the current year.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently bought and sold shares of DQ. Generali Investments CEE investicni spolecnost a.s. acquired a new stake in Daqo New Energy in the fourth quarter worth $52,000. Daiwa Securities Group Inc. lifted its holdings in 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 acquiring an additional 1,400 shares in the last quarter. Point72 Asia Singapore Pte. Ltd. grew its stake in Daqo New Energy by 66.1% in 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 increased its holdings 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 in the last quarter. Finally, Van ECK Associates Corp raised its position in shares of Daqo New Energy by 7.6% during the fourth 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 during the period. 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.