Daqo New Energy Corp. (DQ) Trading 4.5% Higher
Daqo New Energy Corp. (NYSE:DQ) shares traded up 4.5% during trading on Friday . The company traded as high as $23.32 and last traded at $22.86, with a volume of 51,573 shares trading hands. The stock had previously closed at $21.87.
Separately, Zacks Investment Research cut Daqo New Energy Corp. from a “buy” rating to a “hold” rating in a report on Monday, June 20th. Two investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. The company currently has a consensus rating of “Buy” and an average target price of $27.03.
The stock has a 50 day moving average price of $22.05 and a 200 day moving average price of $20.47. The company has a market cap of $238.52 million and a price-to-earnings ratio of 12.24.
Daqo New Energy Corp. (NYSE:DQ) last posted its quarterly earnings data on Tuesday, May 10th. The company reported $1.11 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.66 by $0.45. The company had revenue of $57.70 million for the quarter, compared to the consensus estimate of $58.10 million. During the same period last year, the business earned $0.12 EPS. Equities analysts expect that Daqo New Energy Corp. will post $3.89 earnings per share for the current fiscal year.
A hedge fund recently raised its stake in Daqo New Energy Corp. stock. Royce & Associates LLC raised its position in Daqo New Energy Corp. (NYSE:DQ) by 10.5% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm 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 as of its most recent filing with the SEC.
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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