Daqo New Energy Corp. (DQ) Shares Down 5%
Shares of Daqo New Energy Corp. (NYSE:DQ) fell 5% during trading on Thursday . The company traded as low as $23.58 and last traded at $23.98, with a volume of 109,603 shares changing hands. The stock had previously closed at $25.25.
Separately, 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. Two research analysts have rated the stock with a hold rating and three have given a buy rating to the stock. Daqo New Energy Corp. presently has an average rating of “Buy” and an average price target of $27.03.
The stock has a 50-day moving average price of $22.91 and a 200 day moving average price of $21.15. The stock has a market cap of $244.16 million and a P/E ratio of 12.53.
Daqo New Energy Corp. (NYSE:DQ) last issued its quarterly earnings results on Tuesday, August 9th. The company reported $2.10 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.02 by $1.08. During the same quarter in the prior year, the business earned ($0.09) earnings per share. The company earned $71 million during the quarter, compared to the consensus estimate of $60.35 million. On average, equities analysts expect that Daqo New Energy Corp. will post $3.89 earnings per share for the current 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 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 SEC filing.
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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