Roth Capital reaffirmed their buy rating on shares of Daqo New Energy Corp. (NYSE:DQ) in a research note released on Friday morning. Roth Capital currently has a $35.00 target price on the stock.

Separately, Zacks Investment Research upgraded shares of Daqo New Energy Corp. from a hold rating to a buy rating and set a $26.00 price objective on the stock in a report on Monday, October 24th. Two equities research analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. The company presently has an average rating of Buy and a consensus target price of $32.67.

Daqo New Energy Corp. (NYSE:DQ) traded down 3.75% during trading on Friday, hitting $20.56. 41,298 shares of the stock traded hands. Daqo New Energy Corp. has a 52-week low of $11.56 and a 52-week high of $27.60. The stock has a market cap of $215.00 million, a P/E ratio of 5.56 and a beta of 2.27. The company’s 50 day moving average price is $22.82 and its 200-day moving average price is $23.24.

Daqo New Energy Corp. (NYSE:DQ) last announced its quarterly earnings data on Tuesday, November 15th. The company reported $1.26 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $1.18 by $0.08. The business had revenue of $54.30 million for the quarter, compared to analyst estimates of $59.40 million. Daqo New Energy Corp. had a net margin of 21.05% and a return on equity of 22.18%. During the same period in the prior year, the firm posted $1.30 EPS. Equities research analysts forecast that Daqo New Energy Corp. will post $5.02 earnings per share for the current fiscal year.

A number of hedge funds have recently modified their holdings of the stock. Quentec Asset Management LLC increased its stake in shares of Daqo New Energy Corp. by 4.9% in the third quarter. Quentec Asset Management LLC now owns 844,251 shares of the company’s stock valued at $17,898,000 after buying an additional 39,308 shares during the period. Hsbc Holdings PLC increased its stake in shares of Daqo New Energy Corp. by 10.9% in the third quarter. Hsbc Holdings PLC now owns 276,650 shares of the company’s stock valued at $5,865,000 after buying an additional 27,100 shares during the period. Granite Point Capital Management L.P. purchased a new stake in shares of Daqo New Energy Corp. during the second quarter valued at about $1,297,000. Navellier & Associates Inc purchased a new stake in shares of Daqo New Energy Corp. during the third quarter valued at about $368,000. Finally, Morgan Stanley increased its stake in shares of Daqo New Energy Corp. by 70.0% in the third quarter. Morgan Stanley now owns 16,690 shares of the company’s stock valued at $354,000 after buying an additional 6,873 shares during the period. 28.32% of the stock is owned by institutional investors.

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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