Daqo New Energy Corp. (NYSE:DQ – Get Free Report) traded up 3.9% during mid-day trading on Monday . The stock traded as high as $24.25 and last traded at $24.24. 303,446 shares changed hands during mid-day trading, a decline of 76% from the average session volume of 1,280,931 shares. The stock had previously closed at $23.34.
Wall Street Analyst Weigh In
Separately, Daiwa Capital Markets reissued an “underperform” rating and issued a $25.00 price target on shares of Daqo New Energy in a research report on Friday, March 15th. One research analyst has rated the stock with a sell rating, two have issued a hold rating and one has assigned a buy rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Hold” and a consensus target price of $36.23.
Check Out Our Latest Research Report on Daqo New Energy
Daqo New Energy Stock Performance
Daqo New Energy (NYSE:DQ – Get Free Report) last released its quarterly earnings results on Wednesday, February 28th. The semiconductor company reported $0.64 EPS for the quarter, missing analysts’ consensus estimates of $0.84 by ($0.20). Daqo New Energy had a return on equity of 6.42% and a net margin of 18.24%. The company had revenue of $477.13 million during the quarter, compared to analysts’ expectations of $529.40 million. During the same period in the prior year, the firm earned $4.71 EPS. As a group, analysts anticipate that Daqo New Energy Corp. will post 4.06 earnings per share for the current year.
Institutional Investors Weigh In On Daqo New Energy
Institutional investors have recently made changes to their positions in the business. Toroso Investments LLC bought a new stake in Daqo New Energy during the 3rd quarter valued at $35,000. PNC Financial Services Group Inc. raised its holdings in Daqo New Energy by 117.5% during the 4th quarter. PNC Financial Services Group Inc. now owns 1,588 shares of the semiconductor company’s stock valued at $42,000 after buying an additional 858 shares during the last quarter. US Bancorp DE raised its holdings in Daqo New Energy by 97.5% during the 4th quarter. US Bancorp DE now owns 1,912 shares of the semiconductor company’s stock valued at $51,000 after buying an additional 944 shares during the last quarter. Quadrant Capital Group LLC raised its holdings in Daqo New Energy by 39.4% in the 4th quarter. Quadrant Capital Group LLC now owns 2,348 shares of the semiconductor company’s stock worth $62,000 after purchasing an additional 664 shares in the last quarter. Finally, Atlas Capital Advisors LLC increased its stake in shares of Daqo New Energy by 311.5% in the 4th quarter. Atlas Capital Advisors LLC now owns 3,123 shares of the semiconductor company’s stock worth $83,000 after acquiring an additional 2,364 shares in the last quarter. Hedge funds and other institutional investors own 47.22% of the company’s stock.
About Daqo New Energy
Daqo New Energy Corp., together with its subsidiaries, manufactures and sells polysilicon to photovoltaic product manufacturers in the People's Republic of China. Its products are used in ingots, wafers, cells, and modules for solar power solutions. The company was formerly known as Mega Stand International Limited and changed its name to Daqo New Energy Corp.
Read More
- Five stocks we like better than Daqo New Energy
- Using the MarketBeat Dividend Yield Calculator
- The Charles Schwab Company Can Hit New Highs
- What is a buyback in stocks? A comprehensive guide for investors
- Costco vs. Walmart: Revenue Comparison of Two Retail Giants
- What Investors Need to Know About Upcoming IPOs
- 3 Energy Plays for Cash Flow: Buy 1 or Buy Them All
Receive News & Ratings for Daqo New Energy Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Daqo New Energy and related companies with MarketBeat.com's FREE daily email newsletter.