Daqo New Energy Corp. (NYSE:DQ)’s share price shot up 4.5% during mid-day trading on Friday . The stock traded as high as $23.32 and last traded at $22.86, with a volume of 51,573 shares. 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 equities research analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. The company presently has a consensus rating of “Buy” and an average target price of $27.03.

The company has a market capitalization of $238.52 million and a P/E ratio of 12.24. The firm has a 50-day moving average price of $22.05 and a 200-day moving average price of $20.47.

Daqo New Energy Corp. (NYSE:DQ) last announced its quarterly earnings results on Tuesday, May 10th. The company reported $1.11 earnings per share for the quarter, topping analysts’ consensus estimates of $0.66 by $0.45. The company had revenue of $57.70 million for the quarter, compared to analyst estimates of $58.10 million. During the same quarter in the previous year, the company posted $0.12 earnings per share. Equities analysts anticipate 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 position in Daqo New Energy Corp. (NYSE:DQ) by 10.5% during the fourth quarter, according to its most recent 13F filing with the 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 approximately 0.79% of Daqo New Energy Corp. worth $1,387,000 at the end of the most recent quarter.

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.

Get Analysts' Upgrades and Downgrades Daily - Enter your email address below to receive a concise daily summary of analysts' upgrades, downgrades and new coverage with MarketBeat.com's FREE daily email newsletter.