Shares of DAQO New Energy Corp. (NYSE:DQ) hit a new 52-week high during mid-day trading on Tuesday . The company traded as high as $43.03 and last traded at $40.17, with a volume of 308200 shares traded. The stock had previously closed at $39.81.

A number of brokerages have issued reports on DQ. Roth Capital boosted their price target on shares of DAQO New Energy Corp. from $40.00 to $45.00 and gave the stock a “buy” rating in a research note on Monday, November 6th. Zacks Investment Research lowered shares of DAQO New Energy Corp. from a “buy” rating to a “hold” rating in a research note on Tuesday, October 10th. Finally, ValuEngine upgraded shares of DAQO New Energy Corp. from a “buy” rating to a “strong-buy” rating in a research note on Friday, September 1st. Two analysts have rated the stock with a hold rating, two have given a buy rating and one has issued a strong buy rating to the stock. DAQO New Energy Corp. currently has an average rating of “Buy” and a consensus price target of $39.33.

The firm has a market capitalization of $450.71, a PE ratio of 6.93 and a beta of 1.93. The company has a quick ratio of 0.36, a current ratio of 0.43 and a debt-to-equity ratio of 0.39.

Several institutional investors have recently made changes to their positions in DQ. Public Employees Retirement System of Ohio boosted its holdings in DAQO New Energy Corp. by 264.5% in the second quarter. Public Employees Retirement System of Ohio now owns 7,767 shares of the semiconductor company’s stock valued at $161,000 after purchasing an additional 5,636 shares in the last quarter. Dynamic Technology Lab Private Ltd acquired a new position in DAQO New Energy Corp. in the second quarter valued at approximately $210,000. Granite Point Capital Management L.P. acquired a new position in DAQO New Energy Corp. in the third quarter valued at approximately $290,000. KCG Holdings Inc. acquired a new position in DAQO New Energy Corp. in the first quarter valued at approximately $377,000. Finally, JPMorgan Chase & Co. boosted its holdings in DAQO New Energy Corp. by 29,376.5% in the third quarter. JPMorgan Chase & Co. now owns 28,887 shares of the semiconductor company’s stock valued at $852,000 after purchasing an additional 28,789 shares in the last quarter. 28.35% of the stock is owned by institutional investors and hedge funds.

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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.

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