Daqo New Energy (NYSE:DQ) Shares Up 3.9%

Daqo New Energy Corp. (NYSE:DQ) shot 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 were traded 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 Analysts Forecast Growth

Separately, Daiwa Capital Markets restated 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 equities research analyst has rated the stock with a sell rating, two have issued a hold rating and one has given a buy rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus target price of $36.23.

Daqo New Energy Trading Down 1.6 %

The business’s fifty day moving average price is $23.95 and its 200 day moving average price is $24.13. The company has a market capitalization of $1.53 billion, a P/E ratio of 4.32 and a beta of 0.22.

Daqo New Energy (NYSE:DQ) last released its quarterly earnings data on Wednesday, February 28th. The semiconductor company reported $0.64 EPS for the quarter, missing analysts’ consensus estimates of $0.84 by ($0.20). The business had revenue of $477.13 million for the quarter, compared to the consensus estimate of $529.40 million. Daqo New Energy had a return on equity of 6.42% and a net margin of 18.24%. During the same period in the previous year, the business posted $4.71 earnings per share. Equities research analysts anticipate that Daqo New Energy Corp. will post 4.06 EPS for the current year.

Hedge Funds Weigh In On Daqo New Energy

A number of hedge funds and other institutional investors have recently made changes to their positions in the business. E Fund Management Hong Kong Co. Ltd. boosted its position in Daqo New Energy by 137.6% in the first quarter. E Fund Management Hong Kong Co. Ltd. now owns 34,476 shares of the semiconductor company’s stock valued at $1,483,000 after buying an additional 19,965 shares in the last quarter. JPMorgan Chase & Co. boosted its position in Daqo New Energy by 67.8% in the first quarter. JPMorgan Chase & Co. now owns 161,748 shares of the semiconductor company’s stock valued at $6,684,000 after buying an additional 65,361 shares in the last quarter. American Century Companies Inc. boosted its position in Daqo New Energy by 8.0% in the first quarter. American Century Companies Inc. now owns 33,487 shares of the semiconductor company’s stock valued at $1,384,000 after buying an additional 2,490 shares in the last quarter. US Bancorp DE boosted its position in Daqo New Energy by 89.0% in the first quarter. US Bancorp DE now owns 1,981 shares of the semiconductor company’s stock valued at $82,000 after buying an additional 933 shares in the last quarter. Finally, HighTower Advisors LLC acquired a new position in Daqo New Energy in the first quarter valued at about $324,000. 47.22% of the stock is owned by institutional investors.

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.