Posted by Amber O’Connor on Jun 23rd, 2021
Shares of Daqo New Energy Corp. (NYSE:DQ) traded down 5.9% during mid-day trading on Monday . The stock traded as low as $56.33 and last traded at $56.91. 83,023 shares changed hands during mid-day trading, a decline of 97% from the average session volume of 2,748,298 shares. The stock had previously closed at $60.50.
Several equities analysts recently issued reports on the company. JPMorgan Chase & Co. cut Daqo New Energy from an “overweight” rating to a “neutral” rating in a research report on Monday, June 7th. Jefferies Financial Group began coverage on Daqo New Energy in a research report on Thursday, April 22nd. They set a “buy” rating and a $108.66 target price on the stock. Zacks Investment Research upgraded Daqo New Energy from a “hold” rating to a “buy” rating and set a $66.00 target price on the stock in a research report on Tuesday. HSBC began coverage on Daqo New Energy in a research report on Thursday, June 10th. They set a “buy” rating and a $112.00 target price on the stock. Finally, Roth Capital boosted their target price on Daqo New Energy from $70.00 to $79.00 and gave the stock a “neutral” rating in a research report on Tuesday, June 1st. Two equities research analysts have rated the stock with a hold rating and four have given a buy rating to the stock. The stock has an average rating of “Buy” and an average target price of $85.53.
The firm has a 50 day moving average of $73.55. The stock has a market capitalization of $4.13 billion, a price-to-earnings ratio of 24.12 and a beta of 0.75. The company has a current ratio of 0.93, a quick ratio of 0.83 and a debt-to-equity ratio of 0.11.
Daqo New Energy (NYSE:DQ) last announced its quarterly earnings results on Monday, May 17th. The semiconductor company reported $1.08 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $1.19 by ($0.11). Daqo New Energy had a return on equity of 23.90% and a net margin of 23.49%. Equities analysts anticipate that Daqo New Energy Corp. will post 8.75 EPS for the current year.
Large investors have recently made changes to their positions in the company. BlackRock Inc. lifted its stake in Daqo New Energy by 2,997.0% in the 4th quarter. BlackRock Inc. now owns 5,850,452 shares of the semiconductor company’s stock valued at $335,583,000 after buying an additional 5,661,546 shares in the last quarter. MARSHALL WACE ASIA Ltd purchased a new stake in Daqo New Energy in the 4th quarter valued at approximately $79,224,000. Franklin Resources Inc. lifted its stake in Daqo New Energy by 339.8% in the 1st quarter. Franklin Resources Inc. now owns 1,786,359 shares of the semiconductor company’s stock valued at $134,870,000 after buying an additional 1,380,196 shares in the last quarter. Goldman Sachs Group Inc. lifted its stake in Daqo New Energy by 4,159.0% in the 1st quarter. Goldman Sachs Group Inc. now owns 1,142,136 shares of the semiconductor company’s stock valued at $86,232,000 after buying an additional 1,115,319 shares in the last quarter. Finally, Canada Pension Plan Investment Board lifted its stake in Daqo New Energy by 202.5% in the 4th quarter. Canada Pension Plan Investment Board now owns 1,257,000 shares of the semiconductor company’s stock valued at $72,102,000 after buying an additional 841,500 shares in the last quarter. 54.54% of the stock is currently owned by institutional investors and hedge funds.
Daqo New Energy Company Profile (NYSE:DQ)
Daqo New Energy Corp., together with its subsidiaries, manufactures and sells polysilicon to photovoltaic product manufactures in the People’s Republic of China. The photovoltaic product manufactures further process its polysilicon into ingots, wafers, cells, and modules for solar power solutions.
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