Daqo New Energy (NYSE:DQ) Sets New 52-Week High at $50.60

Daqo New Energy Corp (NYSE:DQ)’s share price reached a new 52-week high during trading on Wednesday . The company traded as high as $50.60 and last traded at $50.07, with a volume of 62615 shares. The stock had previously closed at $45.47.

A number of research firms have recently commented on DQ. Roth Capital restated a “buy” rating on shares of Daqo New Energy in a research note on Wednesday, August 14th. ValuEngine upgraded shares of Daqo New Energy from a “hold” rating to a “buy” rating in a research note on Monday, June 3rd. Finally, Zacks Investment Research downgraded shares of Daqo New Energy from a “hold” rating to a “sell” rating in a research note on Monday. One research analyst has rated the stock with a sell rating and three have issued a buy rating to the company. The company currently has an average rating of “Buy” and a consensus target price of $43.50.

The firm has a market capitalization of $539.11 million, a price-to-earnings ratio of 11.28, a P/E/G ratio of 0.81 and a beta of 1.83. The company’s 50 day moving average is $42.68 and its 200-day moving average is $38.09. The company has a current ratio of 0.56, a quick ratio of 0.48 and a debt-to-equity ratio of 0.28.

Daqo New Energy (NYSE:DQ) last issued its earnings results on Wednesday, August 14th. The semiconductor company reported ($0.20) earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.11) by ($0.09). Daqo New Energy had a negative net margin of 0.85% and a positive return on equity of 5.57%. The firm had revenue of $65.96 million during the quarter, compared to analyst estimates of $69.80 million. During the same quarter last year, the business posted $1.36 earnings per share. Research analysts expect that Daqo New Energy Corp will post 1.86 EPS for the current year.

Large investors have recently modified their holdings of the stock. Unison Advisors LLC bought a new position in Daqo New Energy in the 2nd quarter valued at about $321,000. Handelsbanken Fonder AB bought a new position in Daqo New Energy in the 1st quarter valued at about $5,412,000. BNP Paribas Arbitrage SA bought a new position in Daqo New Energy in the 2nd quarter valued at about $1,271,000. BlackRock Inc. raised its holdings in Daqo New Energy by 8.7% in the 4th quarter. BlackRock Inc. now owns 78,519 shares of the semiconductor company’s stock valued at $1,838,000 after acquiring an additional 6,293 shares during the period. Finally, Blackhawk Capital Partners LLC. bought a new position in Daqo New Energy in the 1st quarter valued at about $280,000. Institutional investors and hedge funds own 33.74% of the company’s stock.

Daqo New Energy Company Profile (NYSE:DQ)

Daqo New Energy Corp., together with its subsidiaries, manufactures and sells polysilicon and wafers in the People's Republic of China. It operates through two segments, Polysilicon and Wafers. The company offers polysilicon to photovoltaic product manufacturers who further process its polysilicon into ingots, wafers, cells, and modules for solar power solutions.

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