Daqo New Energy (NYSE:DQ) Stock Price Up 5.3% – Still a Buy?

Daqo New Energy Corp. (NYSE:DQ) shares shot up 5.3% during trading on Tuesday . The company traded as high as $18.16 and last traded at $18.12. 374,211 shares changed hands during mid-day trading, a decline of 68% from the average session volume of 1,164,988 shares. The stock had previously closed at $17.21.

Wall Street Analysts Forecast Growth

Several analysts recently commented on the company. Roth Mkm dropped their price objective on Daqo New Energy from $23.00 to $15.00 and set a “neutral” rating on the stock in a research note on Wednesday, August 28th. Daiwa America upgraded Daqo New Energy from a “hold” rating to a “strong-buy” rating in a report on Wednesday, October 30th. Jefferies Financial Group dropped their price target on shares of Daqo New Energy from $38.40 to $34.05 and set a “buy” rating on the stock in a research report on Monday, August 26th. StockNews.com upgraded Daqo New Energy to a “sell” rating in a research note on Monday, September 23rd. Finally, Daiwa Capital Markets raised shares of Daqo New Energy from a “neutral” rating to an “outperform” rating in a report on Wednesday, October 30th. One equities research analyst has rated the stock with a sell rating, one has given a hold rating, four have given a buy rating and three have assigned a strong buy rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Buy” and a consensus target price of $22.26.

Daqo New Energy Stock Down 1.0 %

The firm’s 50-day simple moving average is $20.38 and its 200 day simple moving average is $18.32. The firm has a market cap of $1.15 billion, a P/E ratio of -9.41 and a beta of 0.28.

Daqo New Energy (NYSE:DQ) last issued its earnings results on Wednesday, October 30th. The semiconductor company reported ($0.92) EPS for the quarter, missing analysts’ consensus estimates of ($0.80) by ($0.12). The business had revenue of $198.50 million during the quarter, compared to analysts’ expectations of $186.90 million. Daqo New Energy had a negative return on equity of 1.90% and a negative net margin of 9.16%. During the same quarter in the previous year, the business earned ($0.09) EPS. As a group, analysts forecast that Daqo New Energy Corp. will post -3.5 earnings per share for the current year.

Institutional Investors Weigh In On Daqo New Energy

A number of institutional investors have recently modified their holdings of DQ. Blue Trust Inc. raised its stake in Daqo New Energy by 12,187.5% during the 2nd quarter. Blue Trust Inc. now owns 1,966 shares of the semiconductor company’s stock valued at $29,000 after buying an additional 1,950 shares during the last quarter. Signaturefd LLC increased its position in shares of Daqo New Energy by 27.3% during the 3rd quarter. Signaturefd LLC now owns 2,809 shares of the semiconductor company’s stock valued at $57,000 after purchasing an additional 602 shares during the last quarter. AXA S.A. boosted its holdings in shares of Daqo New Energy by 202.3% in the second quarter. AXA S.A. now owns 6,387 shares of the semiconductor company’s stock worth $93,000 after buying an additional 4,274 shares during the last quarter. Rhumbline Advisers increased its holdings in Daqo New Energy by 22.2% during the second quarter. Rhumbline Advisers now owns 8,104 shares of the semiconductor company’s stock valued at $118,000 after buying an additional 1,470 shares during the last quarter. Finally, Daiwa Securities Group Inc. boosted its stake in shares of Daqo New Energy by 15.4% during the 3rd quarter. Daiwa Securities Group Inc. now owns 10,500 shares of the semiconductor company’s stock worth $214,000 after acquiring an additional 1,400 shares during the last quarter. 47.22% of the stock is owned by hedge funds and other 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.