DAQO New Energy Corp. (DQ) Releases Earnings Results, Misses Expectations By $0.19 EPS
DAQO New Energy Corp. (NYSE:DQ) released its earnings results on Tuesday. The semiconductor company reported $1.19 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $1.38 by $0.19, Morningstar.com reports. DAQO New Energy Corp. had a net margin of 22.75% and a return on equity of 22.97%. During the same period in the previous year, the business posted $1.87 earnings per share.
DAQO New Energy Corp. (DQ) opened at 26.39 on Wednesday. The firm has a market capitalization of $277.60 million, a P/E ratio of 4.79 and a beta of 1.75. DAQO New Energy Corp. has a 52-week low of $18.01 and a 52-week high of $28.16. The firm’s 50-day moving average is $21.95 and its 200 day moving average is $21.93.
Several hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Rational Advisors LLC increased its stake in 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 in the last quarter. Trexquant Investment LP purchased a new stake in shares of DAQO New Energy Corp. during the first quarter worth $196,000. ClariVest Asset Management LLC increased its stake 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 period. State of Wisconsin Investment Board purchased a new stake in shares of DAQO New Energy Corp. during the first quarter worth $217,000. Finally, Laurion Capital Management LP purchased a new stake in shares of DAQO New Energy Corp. during the first quarter worth $343,000. Institutional investors own 30.17% of the company’s stock.
A number of research firms have recently weighed in on DQ. Zacks Investment Research raised shares of DAQO New Energy Corp. from a “sell” rating to a “hold” rating in a research note on Thursday, April 20th. Roth Capital set a $35.00 price target on shares of DAQO New Energy Corp. and gave the stock a “buy” rating in a research note on Saturday, May 13th. Finally, BidaskClub raised shares of DAQO New Energy Corp. from a “sell” rating to a “hold” rating in a research note on Monday, July 24th.
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DAQO New Energy Corp. Company Profile
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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