Daqo New Energy Corp. (DQ) Shares Down 4.5%
Shares of Daqo New Energy Corp. (NYSE:DQ) fell 4.5% on Thursday . The stock traded as low as $21.28 and last traded at $21.83, with a volume of 50,202 shares trading hands. The stock had previously closed at $22.85.
Several brokerages recently weighed in on DQ. Zacks Investment Research cut shares of Daqo New Energy Corp. from a “buy” rating to a “hold” rating in a report on Monday, June 20th. TheStreet raised shares of Daqo New Energy Corp. from a “sell” rating to a “hold” rating in a report on Thursday, March 24th. Two analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. Daqo New Energy Corp. presently has a consensus rating of “Buy” and an average price target of $27.03.
The stock has a market cap of $227.77 million and a PE ratio of 11.69. The firm’s 50 day moving average is $22.64 and its 200 day moving average is $20.02.
Daqo New Energy Corp. (NYSE:DQ) last issued its earnings results on Tuesday, May 10th. The company reported $1.11 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.66 by $0.45. The company earned $57.70 million during the quarter, compared to analyst estimates of $58.10 million. During the same period in the prior year, the business earned $0.12 earnings per share. Equities analysts forecast that Daqo New Energy Corp. will post $3.89 EPS for the current year.
A hedge fund recently raised its stake in Daqo New Energy Corp. stock. Royce & Associates LLC increased its stake in Daqo New Energy Corp. (NYSE:DQ) by 10.5% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 83,300 shares of the company’s stock after buying an additional 7,900 shares during the period. Royce & Associates LLC owned 0.79% of Daqo New Energy Corp. worth $1,387,000 at the end of the most recent reporting period.
Daqo New Energy Corp. is a holding company. The Company is a polysilicon manufacturer. It manufactures and sells polysilicon to photovoltaic product manufacturers, who further process its polysilicon into ingots, wafers, cells and modules for solar power solutions. Its segments include Polysilicon and Wafer.
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