Daqo New Energy Corp. (DQ) Shares Up 4.8%
Daqo New Energy Corp. (NYSE:DQ) shot up 4.8% on Monday . The company traded as high as $26.22 and last traded at $25.80, with a volume of 116,985 shares traded. The stock had previously closed at $24.63.
Separately, Zacks Investment Research lowered Daqo New Energy Corp. from a “buy” rating to a “hold” rating in a research report on Monday, June 20th. Two research analysts have rated the stock with a hold rating and three have issued a buy rating to the company. Daqo New Energy Corp. has an average rating of “Buy” and an average price target of $27.03.
The firm’s 50 day moving average is $22.67 and its 200-day moving average is $21.11. The stock has a market cap of $258.45 million and a P/E ratio of 13.27.
Daqo New Energy Corp. (NYSE:DQ) last announced its earnings results on Tuesday, August 9th. The company reported $2.10 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.02 by $1.08. The company had revenue of $71 million for the quarter, compared to the consensus estimate of $60.35 million. During the same period last year, the business posted ($0.09) EPS. Equities research analysts predict that Daqo New Energy Corp. will post $3.89 EPS 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 filing with the SEC. 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 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.
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