Daqo New Energy (DQ) Hits New 1-Year High at $57.03
Daqo New Energy Corp (NYSE:DQ)’s share price reached a new 52-week high during trading on Friday . The stock traded as high as $57.03 and last traded at $54.58, with a volume of 392200 shares traded. The stock had previously closed at $52.01.
Several research firms have commented on DQ. Zacks Investment Research upgraded shares of Daqo New Energy from a “hold” rating to a “buy” rating and set a $33.00 price target for the company in a research note on Friday, September 29th. Roth Capital set a $35.00 price target on shares of Daqo New Energy and gave the company a “buy” rating in a report on Monday, October 16th. ValuEngine raised shares of Daqo New Energy from a “buy” rating to a “strong-buy” rating in a report on Friday, September 1st. Finally, TheStreet raised shares of Daqo New Energy from a “c+” rating to a “b” rating in a report on Wednesday, November 15th. One investment analyst has rated the stock with a hold rating, two have issued a buy rating and two have issued a strong buy rating to the stock. Daqo New Energy presently has an average rating of “Buy” and an average target price of $46.67.
The company has a debt-to-equity ratio of 0.34, a quick ratio of 0.49 and a current ratio of 0.57. The company has a market cap of $598.91, a P/E ratio of 8.71, a P/E/G ratio of 1.07 and a beta of 1.93.
Several large investors have recently modified their holdings of DQ. Morgan Stanley lifted its position in Daqo New Energy by 243.5% during the 1st quarter. Morgan Stanley now owns 100,534 shares of the semiconductor company’s stock worth $1,888,000 after buying an additional 71,264 shares in the last quarter. Acadian Asset Management LLC grew its stake in shares of Daqo New Energy by 11.1% during the 2nd quarter. Acadian Asset Management LLC now owns 179,664 shares of the semiconductor company’s stock worth $3,729,000 after acquiring an additional 17,881 shares in the last quarter. Boston Partners bought a new position in shares of Daqo New Energy during the 2nd quarter worth approximately $3,625,000. Dymon Asia Capital Ltd. bought a new position in shares of Daqo New Energy during the 2nd quarter worth approximately $2,886,000. Finally, Quentec Asset Management LLC grew its stake in shares of Daqo New Energy by 5.0% during the 2nd quarter. Quentec Asset Management LLC now owns 977,106 shares of the semiconductor company’s stock worth $20,285,000 after acquiring an additional 46,888 shares in the last quarter. Institutional investors own 27.39% of the company’s stock.
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Daqo New Energy 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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