Daqo New Energy (NYSE:DQ) Shares Up 3.9%

Shares of Daqo New Energy Corp. (NYSE:DQ) shot up 3.9% during trading on Monday . The stock traded as high as $24.25 and last traded at $24.24. 303,446 shares traded hands during mid-day trading, a decline of 76% from the average session volume of 1,280,931 shares. The stock had previously closed at $23.34.

Analysts Set New Price Targets

Separately, Daiwa Capital Markets reaffirmed an “underperform” rating and issued a $25.00 target price on shares of Daqo New Energy in a research note on Friday, March 15th. One analyst has rated the stock with a sell rating, two have assigned a hold rating and one has issued a buy rating to the company’s stock. Based on data from MarketBeat, Daqo New Energy has a consensus rating of “Hold” and an average price target of $36.23.

Daqo New Energy Trading Down 1.6 %

The company’s 50 day moving average price is $23.95 and its 200-day moving average price is $24.13. The company has a market capitalization of $1.53 billion, a PE ratio of 4.32 and a beta of 0.22.

Daqo New Energy (NYSE:DQ) last announced its quarterly earnings results on Wednesday, February 28th. The semiconductor company reported $0.64 earnings per share for the quarter, missing analysts’ consensus estimates of $0.84 by ($0.20). Daqo New Energy had a return on equity of 6.42% and a net margin of 18.24%. The business had revenue of $477.13 million for the quarter, compared to analysts’ expectations of $529.40 million. During the same period last year, the company posted $4.71 earnings per share. As a group, analysts predict that Daqo New Energy Corp. will post 4.06 earnings per share for the current year.

Hedge Funds Weigh In On Daqo New Energy

Institutional investors have recently added to or reduced their stakes in the company. E Fund Management Hong Kong Co. Ltd. raised its stake in shares of Daqo New Energy by 137.6% in the 1st quarter. E Fund Management Hong Kong Co. Ltd. now owns 34,476 shares of the semiconductor company’s stock valued at $1,483,000 after purchasing an additional 19,965 shares in the last quarter. JPMorgan Chase & Co. raised its stake in shares of Daqo New Energy by 67.8% in the 1st quarter. JPMorgan Chase & Co. now owns 161,748 shares of the semiconductor company’s stock valued at $6,684,000 after purchasing an additional 65,361 shares in the last quarter. American Century Companies Inc. raised its stake in shares of Daqo New Energy by 8.0% in the 1st quarter. American Century Companies Inc. now owns 33,487 shares of the semiconductor company’s stock valued at $1,384,000 after purchasing an additional 2,490 shares in the last quarter. US Bancorp DE raised its stake in shares of Daqo New Energy by 89.0% in the 1st quarter. US Bancorp DE now owns 1,981 shares of the semiconductor company’s stock valued at $82,000 after purchasing an additional 933 shares in the last quarter. Finally, HighTower Advisors LLC acquired a new stake in shares of Daqo New Energy in the 1st quarter valued at about $324,000. Institutional investors and hedge funds own 47.22% of the company’s stock.

About Daqo New Energy

Daqo New Energy Corp., together with its subsidiaries, manufactures and sells polysilicon to photovoltaic product manufacturers in the People's Republic of China. Its products are used in ingots, wafers, cells, and modules for solar power solutions. The company was formerly known as Mega Stand International Limited and changed its name to Daqo New Energy Corp.