Daqo New Energy Corp. (DQ) Trading Down 5%
Shares of Daqo New Energy Corp. (NYSE:DQ) traded down 5% during mid-day trading on Thursday . The company traded as low as $23.58 and last traded at $23.98, with a volume of 109,603 shares. The stock had previously closed at $25.25.
Separately, Zacks Investment Research downgraded Daqo New Energy Corp. from a “buy” rating to a “hold” rating in a research note on Monday, June 20th. Two research analysts have rated the stock with a hold rating and three have given a buy rating to the stock. The stock has an average rating of “Buy” and a consensus price target of $27.03.
The company has a market capitalization of $241.55 million and a price-to-earnings ratio of 12.40. The stock has a 50 day moving average price of $22.82 and a 200 day moving average price of $21.14.
Daqo New Energy Corp. (NYSE:DQ) last posted its quarterly earnings results on Tuesday, August 9th. The company reported $2.10 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $1.02 by $1.08. The firm had revenue of $71 million for the quarter, compared to analyst estimates of $60.35 million. During the same quarter in the prior year, the business posted ($0.09) EPS. On average, analysts anticipate 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 increased its stake in shares of Daqo New Energy Corp. (NYSE:DQ) by 10.5% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. 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 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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