Daqo New Energy (NYSE:DQ) Shares Gap Up to $44.53

Daqo New Energy Corp. (NYSE:DQGet Rating)’s share price gapped up before the market opened on Wednesday . The stock had previously closed at $44.53, but opened at $46.23. Daqo New Energy shares last traded at $45.16, with a volume of 13,732 shares.

Wall Street Analysts Forecast Growth

A number of analysts recently weighed in on DQ shares. Daiwa Capital Markets cut shares of Daqo New Energy from an “outperform” rating to a “neutral” rating in a research report on Thursday, September 15th. StockNews.com started coverage on shares of Daqo New Energy in a research report on Wednesday, October 12th. They set a “buy” rating for the company. Finally, The Goldman Sachs Group cut shares of Daqo New Energy from a “buy” rating to a “neutral” rating and decreased their price target for the stock from $140.00 to $70.00 in a research report on Monday, December 5th. Two equities research analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. Based on data from MarketBeat.com, Daqo New Energy presently has a consensus rating of “Moderate Buy” and an average price target of $75.00.

Daqo New Energy Stock Performance

The stock has a market cap of $3.31 billion, a price-to-earnings ratio of 2.09 and a beta of 0.47. The business’s fifty day simple moving average is $47.37 and its 200 day simple moving average is $55.83.

Daqo New Energy (NYSE:DQGet Rating) last issued its quarterly earnings data on Thursday, October 27th. The semiconductor company reported $4.18 EPS for the quarter, missing analysts’ consensus estimates of $6.87 by ($2.69). Daqo New Energy had a return on equity of 37.63% and a net margin of 39.51%. The firm had revenue of $1.22 billion during the quarter, compared to analyst estimates of $1.10 billion. As a group, analysts forecast that Daqo New Energy Corp. will post 27.56 EPS for the current fiscal year.

Institutional Investors Weigh In On Daqo New Energy

A number of institutional investors have recently modified their holdings of DQ. E Fund Management Hong Kong Co. Ltd. raised its stake in shares of Daqo New Energy by 137.6% in the 1st 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 purchasing an additional 19,965 shares in the last quarter. JPMorgan Chase & Co. lifted its holdings 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 worth $6,684,000 after acquiring an additional 65,361 shares during the last quarter. American Century Companies Inc. lifted its holdings 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 worth $1,384,000 after acquiring an additional 2,490 shares during the last quarter. US Bancorp DE lifted its holdings 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 worth $82,000 after acquiring an additional 933 shares during the last quarter. Finally, HighTower Advisors LLC bought a new position in Daqo New Energy in the first quarter worth about $324,000.

Daqo New Energy Company Profile

(Get Rating)

Daqo New Energy Corp., together with its subsidiaries, manufactures and sells polysilicon to photovoltaic product manufactures 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.

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