DAQO New Energy (NYSE:DQ) Stock Price Up 8.3% – Should You Buy?

DAQO New Energy Corp. (NYSE:DQ)’s stock price rose 8.3% on Monday . The stock traded as high as $25.20 and last traded at $25.7120. Approximately 220,033 shares were traded during mid-day trading, a decline of 74% from the average daily volume of 849,371 shares. The stock had previously closed at $23.74.

Wall Street Analysts Forecast Growth

Several research analysts recently issued reports on DQ shares. The Goldman Sachs Group set a $18.30 price target on shares of DAQO New Energy and gave the stock a “neutral” rating in a report on Wednesday, October 29th. New Street Research set a $18.13 target price on DAQO New Energy in a research report on Tuesday, February 3rd. Roth Mkm set a $30.00 target price on DAQO New Energy and gave the stock a “neutral” rating in a research note on Tuesday, October 28th. Wall Street Zen raised DAQO New Energy from a “sell” rating to a “hold” rating in a report on Monday, November 3rd. Finally, Glj Research lowered DAQO New Energy from a “buy” rating to a “sell” rating and dropped their price objective for the stock from $30.51 to $18.13 in a report on Tuesday, February 3rd. One equities research analyst has rated the stock with a Strong Buy rating, one has given a Buy rating, two have assigned a Hold rating and two have given a Sell rating to the stock. Based on data from MarketBeat, DAQO New Energy has an average rating of “Hold” and a consensus price target of $25.43.

DAQO New Energy Stock Up 2.3%

The company has a market cap of $1.73 billion, a price-to-earnings ratio of -5.02 and a beta of 0.70. The company has a fifty day simple moving average of $28.39 and a two-hundred day simple moving average of $27.65.

Institutional Inflows and Outflows

Institutional investors have recently modified their holdings of the stock. Millennium Management LLC grew its holdings in DAQO New Energy by 1,261.0% during the 1st quarter. Millennium Management LLC now owns 354,596 shares of the semiconductor company’s stock valued at $6,422,000 after buying an additional 328,541 shares during the last quarter. Goldman Sachs Group Inc. lifted its position in shares of DAQO New Energy by 117.2% in the first quarter. Goldman Sachs Group Inc. now owns 1,159,835 shares of the semiconductor company’s stock valued at $21,005,000 after acquiring an additional 625,900 shares in the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC boosted its stake in shares of DAQO New Energy by 34.4% during the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 174,912 shares of the semiconductor company’s stock valued at $3,168,000 after acquiring an additional 44,780 shares during the last quarter. Mitsubishi UFJ Asset Management Co. Ltd. increased its position in DAQO New Energy by 39.1% during the 2nd quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 31,364 shares of the semiconductor company’s stock worth $476,000 after purchasing an additional 8,815 shares in the last quarter. Finally, American Century Companies Inc. increased its position in DAQO New Energy by 13.4% during the 2nd quarter. American Century Companies Inc. now owns 250,201 shares of the semiconductor company’s stock worth $3,796,000 after purchasing an additional 29,578 shares in the last quarter. 47.22% of the stock is currently owned by institutional investors and hedge funds.

DAQO New Energy Company Profile

DAQO New Energy Corp. operates as a leading manufacturer of high-purity polysilicon and monocrystalline silicon wafers for the global solar photovoltaic industry. The company focuses on serving module makers and integrated solar producers with critical upstream materials, applying proprietary technologies and optimized processes to achieve high product purity and consistently low production costs. Its core offerings include solar-grade polysilicon—used in the ingot casting and wafer slicing stages—and premium mono-silicon wafers, which are a key input for high-efficiency solar cell production.

Founded in the late 2000s and listed on the New York Stock Exchange in 2010, DAQO New Energy established its first polysilicon facility in China’s Xinjiang Uygur Autonomous Region.