Daqo New Energy (NYSE:DQ) Shares Gap Up – What’s Next?

Daqo New Energy Corp. (NYSE:DQ) shares gapped up prior to trading on Tuesday . The stock had previously closed at $17.77, but opened at $18.91. Daqo New Energy shares last traded at $19.07, with a volume of 882,992 shares trading hands.

Analyst Upgrades and Downgrades

A number of research analysts have weighed in on DQ shares. Nomura Securities upgraded shares of Daqo New Energy to a “strong-buy” rating in a research report on Wednesday, August 28th. Roth Mkm reduced their price target on Daqo New Energy from $23.00 to $15.00 and set a “neutral” rating for the company in a report on Wednesday, August 28th. Daiwa America upgraded Daqo New Energy from a “hold” rating to a “strong-buy” rating in a research report on Wednesday, October 30th. Daiwa Capital Markets upgraded Daqo New Energy from a “neutral” rating to an “outperform” rating in a research report on Wednesday, October 30th. Finally, Hsbc Global Res raised shares of Daqo New Energy from a “hold” rating to a “strong-buy” rating in a report on Wednesday, October 2nd. One analyst has rated the stock with a sell rating, one has given a hold rating, four have given a buy rating and three have assigned a strong buy rating to the stock. According to data from MarketBeat, the stock has an average rating of “Buy” and a consensus price target of $22.26.

Daqo New Energy Trading Up 8.0 %

The firm has a market cap of $1.27 billion, a PE ratio of -10.38 and a beta of 0.28. The firm has a 50 day moving average price of $20.30 and a 200-day moving average price of $18.20.

Daqo New Energy (NYSE:DQ) last issued its quarterly earnings results on Wednesday, October 30th. The semiconductor company reported ($0.92) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.80) by ($0.12). Daqo New Energy had a negative return on equity of 1.90% and a negative net margin of 9.16%. The firm had revenue of $198.50 million during the quarter, compared to analysts’ expectations of $186.90 million. During the same quarter in the prior year, the firm earned ($0.09) EPS. Equities analysts forecast that Daqo New Energy Corp. will post -3.5 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the business. Signaturefd LLC lifted its position in Daqo New Energy by 27.3% in the third quarter. Signaturefd LLC now owns 2,809 shares of the semiconductor company’s stock valued at $57,000 after acquiring an additional 602 shares during the last quarter. Van ECK Associates Corp lifted its holdings in shares of Daqo New Energy by 4.3% in the 3rd quarter. Van ECK Associates Corp now owns 18,657 shares of the semiconductor company’s stock valued at $415,000 after purchasing an additional 764 shares during the last quarter. Daiwa Securities Group Inc. boosted its position in shares of Daqo New Energy by 15.4% in the 3rd quarter. Daiwa Securities Group Inc. now owns 10,500 shares of the semiconductor company’s stock valued at $214,000 after purchasing an additional 1,400 shares during the period. Rhumbline Advisers increased its position in Daqo New Energy by 22.2% during the second quarter. Rhumbline Advisers now owns 8,104 shares of the semiconductor company’s stock worth $118,000 after buying an additional 1,470 shares during the period. Finally, Blue Trust Inc. lifted its stake in Daqo New Energy by 132.3% in the third quarter. Blue Trust Inc. now owns 4,567 shares of the semiconductor company’s stock valued at $93,000 after buying an additional 2,601 shares during the last quarter. 47.22% of the stock is owned by institutional investors and hedge funds.

Daqo New Energy Company Profile

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.