Daqo New Energy Corp. (DQ) Sees Large Volume Increase
Daqo New Energy Corp. (NYSE:DQ) shares saw unusually-strong trading volume on Monday . Approximately 154,347 shares traded hands during trading, an increase of 67% from the previous session’s volume of 92,202 shares.The stock last traded at $24.64 and had previously closed at $24.39.
Separately, Zacks Investment Research cut shares of Daqo New Energy Corp. from a “buy” rating to a “hold” rating in a research report on Monday, June 20th. Two equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. The stock has a consensus rating of “Buy” and a consensus price target of $27.03.
The stock has a market cap of $259.02 million and a price-to-earnings ratio of 6.70. The company has a 50-day moving average price of $23.24 and a 200-day moving average price of $21.56.
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 analysts’ consensus estimates of $1.02 by $1.08. The company earned $71 million during the quarter, compared to analysts’ expectations of $60.35 million. During the same period last year, the company earned ($0.09) earnings per share. Equities analysts anticipate that Daqo New Energy Corp. will post $4.79 EPS for the current 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 13F filing with the Securities and Exchange Commission. The fund 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 at the end of the most recent reporting period.
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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