Daqo New Energy Corp (NYSE:DQ) shares rose 9.4% during mid-day trading on Monday . The company traded as high as $76.58 and last traded at $76.32, approximately 582,000 shares traded hands during mid-day trading. An increase of 122% from the average daily volume of 262,198 shares. The stock had previously closed at $69.76.
DQ has been the subject of a number of recent analyst reports. JPMorgan Chase & Co. decreased their target price on shares of Daqo New Energy from $75.00 to $69.00 and set an “overweight” rating for the company in a research report on Wednesday, April 29th. Daiwa Capital Markets assumed coverage on shares of Daqo New Energy in a research report on Tuesday, March 10th. They set a “buy” rating for the company. ValuEngine upgraded shares of Daqo New Energy from a “sell” rating to a “hold” rating in a research report on Tuesday, June 23rd. TheStreet upgraded shares of Daqo New Energy from a “c” rating to a “b-” rating in a research report on Wednesday, June 24th. Finally, Zacks Investment Research lowered shares of Daqo New Energy from a “hold” rating to a “sell” rating in a research report on Monday, June 1st. One research analyst has rated the stock with a sell rating, one has assigned a hold rating and three have assigned a buy rating to the company. Daqo New Energy presently has a consensus rating of “Hold” and a consensus target price of $67.33.
The company has a current ratio of 0.44, a quick ratio of 0.36 and a debt-to-equity ratio of 0.25. The company has a market cap of $1.06 billion, a P/E ratio of 19.82, a price-to-earnings-growth ratio of 0.44 and a beta of 0.83. The company’s 50-day moving average price is $57.09 and its two-hundred day moving average price is $55.63.
A number of hedge funds have recently bought and sold shares of DQ. UBS Group AG lifted its stake in Daqo New Energy by 160.0% during the fourth quarter. UBS Group AG now owns 2,361 shares of the semiconductor company’s stock valued at $121,000 after buying an additional 1,453 shares in the last quarter. Tower Research Capital LLC TRC purchased a new stake in Daqo New Energy during the first quarter valued at about $190,000. Wellington Management Group LLP purchased a new stake in Daqo New Energy during the first quarter valued at about $239,000. Blueshift Asset Management LLC purchased a new stake in Daqo New Energy during the fourth quarter valued at about $255,000. Finally, Aperio Group LLC purchased a new stake in Daqo New Energy during the first quarter valued at about $278,000.
About Daqo New Energy (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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