DAQO New Energy Corp. (DQ) Reaches New 52-Week High at $29.72
Shares of DAQO New Energy Corp. (NYSE:DQ) reached a new 52-week high on Monday . The company traded as high as $29.72 and last traded at $29.59, with a volume of 263,943 shares trading hands. The stock had previously closed at $27.60.
A number of analysts recently weighed in on the company. BidaskClub upgraded DAQO New Energy Corp. from a “sell” rating to a “hold” rating in a research note on Monday, July 24th. Zacks Investment Research upgraded DAQO New Energy Corp. from a “hold” rating to a “strong-buy” rating and set a $27.00 price target on the stock in a research note on Friday, July 21st. Finally, Roth Capital set a $35.00 price target on DAQO New Energy Corp. and gave the company a “buy” rating in a research note on Monday, June 26th.
The stock has a market capitalization of $313.78 million, a PE ratio of 5.42 and a beta of 1.75. The stock has a 50-day moving average of $21.44 and a 200 day moving average of $21.84.
DAQO New Energy Corp. (NYSE:DQ) last issued its quarterly earnings data on Tuesday, May 9th. The semiconductor company reported $2.23 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.47 by $0.76. DAQO New Energy Corp. had a return on equity of 22.97% and a net margin of 22.75%. The business had revenue of $83.81 million during the quarter, compared to analyst estimates of $72.50 million. During the same period in the prior year, the company posted $1.12 EPS. Equities analysts predict that DAQO New Energy Corp. will post $4.98 EPS for the current year.
A number of institutional investors have recently modified their holdings of DQ. Rational Advisors LLC raised its position in shares of DAQO New Energy Corp. by 18.4% in the first quarter. Rational Advisors LLC now owns 5,800 shares of the semiconductor company’s stock worth $109,000 after buying an additional 900 shares during the last quarter. Trexquant Investment LP purchased a new position in shares of DAQO New Energy Corp. during the first quarter worth about $196,000. ClariVest Asset Management LLC raised its position in shares of DAQO New Energy Corp. by 5.4% in the first quarter. ClariVest Asset Management LLC now owns 10,713 shares of the semiconductor company’s stock worth $201,000 after buying an additional 546 shares during the last quarter. State of Wisconsin Investment Board purchased a new position in shares of DAQO New Energy Corp. during the first quarter worth about $217,000. Finally, Laurion Capital Management LP purchased a new position in shares of DAQO New Energy Corp. during the first quarter worth about $343,000. 30.17% of the stock is owned by hedge funds and other institutional investors.
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About DAQO New Energy Corp.
Daqo New Energy Corp. is a polysilicon manufacturer. The Company utilizes the chemical vapor deposition process, or the modified Siemens process, to produce polysilicon. The Company’s segments include Polysilicon and Wafer. The Company manufactures and sells polysilicon to photovoltaic product manufacturers, whereby the polysilicon is processed into ingots, wafers, cells and modules for solar power solutions.
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