Daqo New Energy Corp. (NYSE:DQ) – Investment analysts at Roth Capital cut their Q4 2016 earnings per share (EPS) estimates for Daqo New Energy Corp. in a report issued on Tuesday. Roth Capital analyst P. Shen now forecasts that the firm will post earnings per share of $0.73 for the quarter, down from their prior forecast of $1.07. Roth Capital also issued estimates for Daqo New Energy Corp.’s FY2018 earnings at $5.19 EPS.

Daqo New Energy Corp. (NYSE:DQ) last posted its quarterly earnings data on Tuesday, November 15th. The company reported $1.26 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $1.18 by $0.08. Daqo New Energy Corp. had a return on equity of 19.62% and a net margin of 18.28%. The firm earned $54.30 million during the quarter, compared to the consensus estimate of $59.40 million. During the same period in the prior year, the company earned $1.30 EPS.

Earnings History and Estimates for Daqo New Energy Corp. (NYSE:DQ)

Separately, Zacks Investment Research upgraded Daqo New Energy Corp. from a “hold” rating to a “buy” rating and set a $26.00 target price on the stock in a research note on Monday, October 24th. Two analysts have rated the stock with a hold rating and three have given a buy rating to the company. Daqo New Energy Corp. currently has an average rating of “Buy” and a consensus target price of $31.50.

Daqo New Energy Corp. (NYSE:DQ) traded down 0.70% on Thursday, reaching $22.71. The company had a trading volume of 32,008 shares. The company has a market capitalization of $237.48 million, a PE ratio of 6.15 and a beta of 2.27. The company’s 50-day moving average is $22.77 and its 200-day moving average is $23.26. Daqo New Energy Corp. has a 52-week low of $11.56 and a 52-week high of $27.60.

Hedge funds and other institutional investors have recently made changes to their positions in the stock. ClariVest Asset Management LLC increased its stake in Daqo New Energy Corp. by 24.1% in the second quarter. ClariVest Asset Management LLC now owns 6,905 shares of the company’s stock worth $156,000 after buying an additional 1,341 shares during the period. Walleye Trading LLC increased its stake in Daqo New Energy Corp. by 38.5% in the second quarter. Walleye Trading LLC now owns 5,400 shares of the company’s stock worth $122,000 after buying an additional 1,500 shares during the period. Acadian Asset Management LLC increased its stake in Daqo New Energy Corp. by 87.9% in the third quarter. Acadian Asset Management LLC now owns 5,280 shares of the company’s stock worth $113,000 after buying an additional 2,470 shares during the period. Morgan Stanley increased its stake in Daqo New Energy Corp. by 70.0% in the third quarter. Morgan Stanley now owns 16,690 shares of the company’s stock worth $354,000 after buying an additional 6,873 shares during the period. Finally, Credit Suisse AG acquired a new stake in Daqo New Energy Corp. during the third quarter worth $259,000. Institutional investors own 29.48% of the company’s stock.

Daqo New Energy Corp. Company Profile

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.

5 Day Chart for NYSE:DQ

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