Daqo New Energy (NYSE:DQ) Stock Price Up 3.9%

Daqo New Energy Corp. (NYSE:DQ) shot up 3.9% during mid-day trading on Tuesday . The company traded as high as $15.68 and last traded at $15.63. 56,670 shares were traded during mid-day trading, a decline of 94% from the average session volume of 1,025,108 shares. The stock had previously closed at $15.05.

Wall Street Analysts Forecast Growth

Several equities analysts have recently commented on the company. Nomura Securities raised Daqo New Energy to a “strong-buy” rating in a report on Wednesday, August 28th. HSBC upgraded Daqo New Energy from a “reduce” rating to a “hold” rating and set a $15.00 target price on the stock in a research note on Tuesday, August 27th. The Goldman Sachs Group began coverage on shares of Daqo New Energy in a research report on Thursday, July 11th. They set a “buy” rating for the company. StockNews.com raised shares of Daqo New Energy to a “sell” rating in a report on Thursday, September 5th. Finally, Hsbc Global Res raised shares of Daqo New Energy from a “moderate sell” rating to a “hold” rating in a research note on Tuesday, August 27th. Two analysts have rated the stock with a sell rating, three have issued a hold rating, two have given a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, Daqo New Energy presently has an average rating of “Hold” and an average price target of $22.26.

Daqo New Energy Stock Up 7.1 %

The business has a 50-day simple moving average of $15.90 and a two-hundred day simple moving average of $19.79. The stock has a market capitalization of $1.06 billion, a price-to-earnings ratio of 7.41 and a beta of 0.30.

Daqo New Energy (NYSE:DQ) last issued its quarterly earnings results on Monday, August 26th. The semiconductor company reported ($1.81) EPS for the quarter, missing the consensus estimate of ($0.56) by ($1.25). The business had revenue of $219.91 million during the quarter, compared to the consensus estimate of $406.50 million. Daqo New Energy had a negative return on equity of 1.04% and a negative net margin of 4.11%. During the same quarter last year, the firm posted $1.34 earnings per share. On average, analysts forecast that Daqo New Energy Corp. will post -3.35 EPS for the current year.

Daqo New Energy announced that its Board of Directors has approved a stock buyback plan on Monday, July 22nd that permits the company to repurchase $100.00 million in shares. This repurchase authorization permits the semiconductor company to reacquire up to 8.6% of its stock through open market purchases. Stock repurchase plans are often an indication that the company’s board believes its shares are undervalued.

Institutional Trading of Daqo New Energy

A number of hedge funds have recently modified their holdings of DQ. Blue Trust Inc. grew its position in Daqo New Energy by 12,187.5% during the second quarter. Blue Trust Inc. now owns 1,966 shares of the semiconductor company’s stock valued at $29,000 after purchasing an additional 1,950 shares in the last quarter. PNC Financial Services Group Inc. increased its stake in shares of Daqo New Energy by 117.5% in the fourth quarter. PNC Financial Services Group Inc. now owns 1,588 shares of the semiconductor company’s stock worth $42,000 after acquiring an additional 858 shares during the last quarter. Quadrant Capital Group LLC raised its holdings in shares of Daqo New Energy by 39.4% during the fourth quarter. Quadrant Capital Group LLC now owns 2,348 shares of the semiconductor company’s stock worth $62,000 after acquiring an additional 664 shares in the last quarter. AXA S.A. boosted its position in Daqo New Energy by 202.3% during the second quarter. AXA S.A. now owns 6,387 shares of the semiconductor company’s stock valued at $93,000 after purchasing an additional 4,274 shares during the last quarter. Finally, Rhumbline Advisers grew its stake in Daqo New Energy by 22.2% in the second quarter. Rhumbline Advisers now owns 8,104 shares of the semiconductor company’s stock valued at $118,000 after purchasing an additional 1,470 shares in the last quarter. Hedge funds and other institutional investors own 47.22% of the company’s stock.

Daqo New Energy Company Profile

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.