Daqo New Energy (NYSE:DQ) Shares Down 9.2%


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Daqo New Energy Corp. (NYSE:DQ) was down 9.2% during trading on Wednesday . The stock traded as low as $76.65 and last traded at $77.41. Approximately 3,342,962 shares changed hands during trading, an increase of 4% from the average daily volume of 3,200,658 shares. The stock had previously closed at $85.30.

Several equities research analysts have commented on DQ shares. ValuEngine downgraded shares of Daqo New Energy from a “sell” rating to a “strong sell” rating in a report on Tuesday, November 17th. The Goldman Sachs Group assumed coverage on shares of Daqo New Energy in a report on Tuesday, December 8th. They issued a “buy” rating and a $62.00 price target on the stock. Roth Capital downgraded shares of Daqo New Energy from a “buy” rating to a “neutral” rating and lowered their price target for the stock from $44.00 to $40.00 in a report on Monday, October 26th. Zacks Investment Research raised shares of Daqo New Energy from a “hold” rating to a “buy” rating and set a $89.00 price target on the stock in a report on Friday, January 8th. Finally, BidaskClub upgraded shares of Daqo New Energy from a “buy” rating to a “strong-buy” rating in a research report on Thursday, December 17th. One equities research analyst has rated the stock with a sell rating, one has given a hold rating, four have issued a buy rating and one has issued a strong buy rating to the company. The company has an average rating of “Buy” and an average target price of $51.20.

The company has a quick ratio of 0.38, a current ratio of 0.54 and a debt-to-equity ratio of 0.20. The company’s 50-day moving average is $54.95 and its two-hundred day moving average is $35.84. The company has a market capitalization of $5.38 billion, a P/E ratio of 74.58 and a beta of 0.84.

Daqo New Energy (NYSE:DQ) last issued its quarterly earnings results on Sunday, November 22nd. The semiconductor company reported $0.27 EPS for the quarter, missing analysts’ consensus estimates of $0.32 by ($0.05). Daqo New Energy had a net margin of 13.98% and a return on equity of 12.41%. During the same quarter in the prior year, the firm earned $0.13 EPS. On average, sell-side analysts predict that Daqo New Energy Corp. will post 1.84 EPS for the current year.

A number of hedge funds and other institutional investors have recently modified their holdings of DQ. Harel Insurance Investments & Financial Services Ltd. bought a new position in Daqo New Energy during the third quarter valued at approximately $27,000. Exane Derivatives bought a new position in shares of Daqo New Energy in the third quarter worth approximately $29,000. Bank of Montreal Can grew its holdings in shares of Daqo New Energy by 26.0% in the second quarter. Bank of Montreal Can now owns 1,162 shares of the semiconductor company’s stock worth $105,000 after purchasing an additional 240 shares during the last quarter. AXA S.A. bought a new position in shares of Daqo New Energy in the third quarter worth approximately $108,000. Finally, SG Americas Securities LLC bought a new position in shares of Daqo New Energy in the third quarter worth approximately $136,000. Institutional investors and hedge funds own 59.84% of the company’s stock.

Daqo New Energy Company Profile (NYSE:DQ)

Daqo New Energy Corp., together with its subsidiaries, manufactures and sells polysilicon to photovoltaic product manufactures in the People's Republic of China. It offers ready-to-use polysilicon, and packaged to meet crucible stacking, pulling, and solidification products. The company was formerly known as Mega Stand International Limited and changed its name to Daqo New Energy Corp.

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