Daqo New Energy Corp. (DQ) Set to Announce Quarterly Earnings on Tuesday
Daqo New Energy Corp. (NYSE:DQ) will announce its Q316 earnings results on Tuesday, November 15th. Analysts expect the company to announce earnings of $1.18 per share and revenue of $59.40 million for the quarter.
Shares of Daqo New Energy Corp. (NYSE:DQ) opened at 22.31 on Friday. The firm has a market cap of $233.30 million, a PE ratio of 6.04 and a beta of 2.27. Daqo New Energy Corp. has a 52 week low of $11.56 and a 52 week high of $27.60. The firm’s 50-day moving average is $22.60 and its 200 day moving average is $23.36.
Separately, Zacks Investment Research raised Daqo New Energy Corp. from a “hold” rating to a “buy” rating and set a $26.00 price target for the company in a report on Tuesday, October 18th. Two equities research analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. Daqo New Energy Corp. presently has a consensus rating of “Buy” and a consensus target price of $31.50.
A hedge fund recently bought a new stake in Daqo New Energy Corp. stock. Hsbc Holdings PLC purchased a new stake in Daqo New Energy Corp. (NYSE:DQ) during the second quarter, according to its most recent disclosure with the SEC. The firm purchased 249,550 shares of the company’s stock, valued at approximately $5,632,000. Hsbc Holdings PLC owned about 2.39% of Daqo New Energy Corp. as of its most recent SEC filing. Hedge funds and other institutional investors own 29.45% of the company’s stock.
About Daqo New Energy Corp.
Daqo New Energy Corp. is a polysilicon manufacturer. The Company utilizes the chemical vapor deposition process, or the modified Siemens process, to produce polysilicon. The Company’s segments include Polysilicon and Wafer. The Company manufactures and sells polysilicon to photovoltaic product manufacturers, whereby the polysilicon is processed into ingots, wafers, cells and modules for solar power solutions.
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