Daqo New Energy (NYSE:DQ) Shares Gap Up – What’s Next?

Daqo New Energy Corp. (NYSE:DQ)’s share price gapped up prior to trading on Tuesday . The stock had previously closed at $18.62, but opened at $19.17. Daqo New Energy shares last traded at $19.99, with a volume of 384,793 shares changing hands.

Analyst Upgrades and Downgrades

Separately, StockNews.com upgraded shares of Daqo New Energy to a “sell” rating in a research note on Monday. One investment analyst has rated the stock with a sell rating, one has given a hold rating, four have assigned a buy rating and three have given a strong buy rating to the company’s stock. Based on data from MarketBeat, Daqo New Energy has a consensus rating of “Buy” and an average price target of $22.26.

Daqo New Energy Trading Up 11.2 %

The firm’s 50-day moving average price is $19.82 and its two-hundred day moving average price is $19.22. The stock has a market cap of $1.37 billion, a PE ratio of -11.17 and a beta of 0.25.

Daqo New Energy (NYSE:DQ) last issued its quarterly earnings data on Thursday, February 27th. The semiconductor company reported ($2.71) EPS for the quarter, missing the consensus estimate of ($0.69) by ($2.02). Daqo New Energy had a negative net margin of 9.16% and a negative return on equity of 1.90%. The business had revenue of $195.36 million for the quarter, compared to analysts’ expectations of $153.54 million. On average, analysts anticipate that Daqo New Energy Corp. will post -3.5 earnings per share for the current year.

Institutional Inflows and Outflows

Several institutional investors have recently made changes to their positions in the business. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its holdings in shares of Daqo New Energy by 32.2% in the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 135,732 shares of the semiconductor company’s stock valued at $2,765,000 after buying an additional 33,031 shares during the period. Public Employees Retirement System of Ohio purchased a new stake in Daqo New Energy during the third quarter worth $1,053,000. Ariose Capital Management Ltd grew its position in Daqo New Energy by 27.5% during the fourth quarter. Ariose Capital Management Ltd now owns 1,505,709 shares of the semiconductor company’s stock valued at $29,271,000 after buying an additional 324,585 shares during the period. BNP Paribas Financial Markets grew its position in shares of Daqo New Energy by 57.5% during the 3rd quarter. BNP Paribas Financial Markets now owns 74,571 shares of the semiconductor company’s stock valued at $1,519,000 after acquiring an additional 27,223 shares during the period. Finally, Geode Capital Management LLC increased its stake in shares of Daqo New Energy by 9.2% in the 3rd quarter. Geode Capital Management LLC now owns 33,546 shares of the semiconductor company’s stock valued at $683,000 after purchasing an additional 2,813 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.