Daqo New Energy (NYSE:DQ) Issues Quarterly Earnings Results

Daqo New Energy (NYSE:DQ) issued its quarterly earnings data on Thursday. The semiconductor company reported ($2.71) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.69) by ($2.02), Zacks reports. Daqo New Energy had a negative return on equity of 1.90% and a negative net margin of 9.16%.

Daqo New Energy Price Performance

Daqo New Energy stock traded down $0.40 during midday trading on Thursday, reaching $21.49. The company’s stock had a trading volume of 1,379,587 shares, compared to its average volume of 814,706. The stock’s 50-day simple moving average is $19.67 and its 200-day simple moving average is $19.12. Daqo New Energy has a 52-week low of $13.62 and a 52-week high of $30.85. The stock has a market capitalization of $1.42 billion, a P/E ratio of -11.61 and a beta of 0.25.

Wall Street Analysts Forecast Growth

DQ has been the topic of several research analyst reports. Daiwa Capital Markets raised Daqo New Energy from a “neutral” rating to an “outperform” rating in a research report on Wednesday, October 30th. Daiwa America raised Daqo New Energy from a “hold” rating to a “strong-buy” rating in a research report on Wednesday, October 30th. 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 stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Buy” and a consensus target price of $22.26.

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.