Daqo New Energy Corp. (NYSE:DQ)’s share price rose 3.5% on Wednesday . The company traded as high as $24.23 and last traded at $24.02, with a volume of 59,377 shares traded. The stock had previously closed at $23.20.

Separately, Zacks Investment Research downgraded shares of Daqo New Energy Corp. from a “buy” rating to a “hold” rating in a report on Monday, June 20th. Two analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. The stock presently has an average rating of “Buy” and an average price target of $27.03.

The company has a 50-day moving average price of $23.11 and a 200-day moving average price of $21.47. The company has a market capitalization of $250.55 million and a PE ratio of 6.48.

Daqo New Energy Corp. (NYSE:DQ) last posted its quarterly earnings data on Tuesday, August 9th. The company reported $2.10 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 analysts’ expectations of $60.35 million. During the same quarter last year, the firm posted ($0.09) earnings per share. Equities analysts predict that Daqo New Energy Corp. will post $4.79 EPS for the current year.

An institutional investor recently raised its position in Daqo New Energy Corp. stock. Royce & Associates LLC boosted its stake in 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 (SEC). The institutional investor owned 83,300 shares of the company’s stock after buying an additional 7,900 shares during the period. Royce & Associates LLC owned about 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.

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.