Daqo New Energy (NYSE:DQ) Trading Up 3.3% – What’s Next?

Daqo New Energy Corp. (NYSE:DQ) shares were up 3.3% during trading on Tuesday . The stock traded as high as $18.85 and last traded at $18.66. Approximately 226,414 shares were traded during trading, a decline of 78% from the average daily volume of 1,023,609 shares. The stock had previously closed at $18.06.

Analysts Set New Price Targets

Separately, StockNews.com raised shares of Daqo New Energy to a “sell” rating in a research note on Tuesday, March 18th. One research analyst has rated the stock with a sell rating, one has given a hold rating, four have assigned a buy rating and three have assigned a strong buy rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Buy” and an average target price of $22.26.

Daqo New Energy Stock Up 4.6 %

The stock has a fifty day moving average of $19.61 and a 200-day moving average of $19.67. The stock has a market capitalization of $1.25 billion, a price-to-earnings ratio of -10.21 and a beta of 0.41.

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

Hedge Funds Weigh In On Daqo New Energy

Institutional investors have recently added to or reduced their stakes in the stock. Greenwoods Asset Management Hong Kong Ltd. grew its stake in shares of Daqo New Energy by 5,286.6% in the 4th quarter. Greenwoods Asset Management Hong Kong Ltd. now owns 2,714,780 shares of the semiconductor company’s stock valued at $52,775,000 after purchasing an additional 2,664,381 shares during the last quarter. Prudential PLC purchased a new position in Daqo New Energy in the 4th quarter valued at $14,775,000. Point72 Asset Management L.P. increased its stake in Daqo New Energy by 67.5% in the 4th quarter. Point72 Asset Management L.P. now owns 886,655 shares of the semiconductor company’s stock valued at $17,237,000 after buying an additional 357,460 shares during the period. Ariose Capital Management Ltd raised its position in Daqo New Energy by 27.5% during the 4th quarter. Ariose Capital Management Ltd now owns 1,505,709 shares of the semiconductor company’s stock worth $29,271,000 after buying an additional 324,585 shares during the last quarter. Finally, Continental General Insurance Co. lifted its stake in shares of Daqo New Energy by 5.8% in the 4th quarter. Continental General Insurance Co. now owns 5,916,202 shares of the semiconductor company’s stock worth $115,011,000 after acquiring an additional 322,084 shares during the period. Institutional investors and hedge funds 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.