DAQO New Energy (NYSE:DQ) Sees Strong Trading Volume – What’s Next?

Shares of DAQO New Energy Corp. (NYSE:DQ) saw strong trading volume on Thursday . 482,555 shares changed hands during trading, a decline of 42% from the previous session’s volume of 837,390 shares.The stock last traded at $14.8150 and had previously closed at $14.05.

Wall Street Analysts Forecast Growth

Several research analysts have recently issued reports on the company. Weiss Ratings upgraded DAQO New Energy from a “sell (e+)” rating to a “sell (d-)” rating in a research report on Tuesday, August 11th. Wall Street Zen cut DAQO New Energy from a “hold” rating to a “strong sell” rating in a research note on Saturday, May 2nd. The Goldman Sachs Group reiterated a “neutral” rating and issued a $11.20 price objective on shares of DAQO New Energy in a report on Monday, July 27th. Zacks Research lowered DAQO New Energy from a “hold” rating to a “strong sell” rating in a research note on Friday, August 7th. Finally, Roth Capital set a $19.00 target price on DAQO New Energy in a report on Thursday, April 30th. One research analyst has rated the stock with a Strong Buy rating, two have given a Buy rating, two have issued a Hold rating and three have assigned a Sell rating to the company’s stock. According to data from MarketBeat, DAQO New Energy presently has a consensus rating of “Hold” and a consensus target price of $22.35.

DAQO New Energy Price Performance

The stock has a market cap of $1.01 billion, a P/E ratio of -5.34 and a beta of 0.66. The company’s 50 day simple moving average is $13.19 and its 200 day simple moving average is $18.34.

DAQO New Energy (NYSE:DQ) last posted its earnings results on Thursday, August 20th. The semiconductor company reported ($1.20) earnings per share for the quarter, missing the consensus estimate of ($0.42) by ($0.78). DAQO New Energy had a negative return on equity of 3.19% and a negative net margin of 32.92%. On average, equities research analysts predict that DAQO New Energy Corp. will post -1.96 earnings per share for the current year.

Institutional Trading of DAQO New Energy

Hedge funds have recently added to or reduced their stakes in the business. Ariose Capital Management Ltd increased its holdings in shares of DAQO New Energy by 35.0% in the fourth quarter. Ariose Capital Management Ltd now owns 457,155 shares of the semiconductor company’s stock worth $13,486,000 after acquiring an additional 118,500 shares in the last quarter. Renaissance Technologies LLC bought a new position in shares of DAQO New Energy during the 1st quarter valued at about $3,285,000. Hsbc Holdings PLC grew its position in shares of DAQO New Energy by 65.9% in the 1st quarter. Hsbc Holdings PLC now owns 35,165 shares of the semiconductor company’s stock valued at $739,000 after purchasing an additional 13,970 shares during the period. Himension Capital Singapore PTE. LTD. bought a new stake in DAQO New Energy during the 1st quarter worth approximately $521,000. Finally, SG Americas Securities LLC raised its holdings in DAQO New Energy by 58.1% during the 1st quarter. SG Americas Securities LLC now owns 67,643 shares of the semiconductor company’s stock worth $1,439,000 after buying an additional 24,855 shares during the period. Institutional investors and hedge funds own 47.22% of the company’s stock.

About DAQO New Energy

DAQO New Energy Corp. operates as a leading manufacturer of high-purity polysilicon and monocrystalline silicon wafers for the global solar photovoltaic industry. The company focuses on serving module makers and integrated solar producers with critical upstream materials, applying proprietary technologies and optimized processes to achieve high product purity and consistently low production costs. Its core offerings include solar-grade polysilicon—used in the ingot casting and wafer slicing stages—and premium mono-silicon wafers, which are a key input for high-efficiency solar cell production.

Founded in the late 2000s and listed on the New York Stock Exchange in 2010, DAQO New Energy established its first polysilicon facility in China’s Xinjiang Uygur Autonomous Region.