Daqo New Energy (NYSE:DQ) Trading Up 3.3% – Should You Buy?

Daqo New Energy Corp. (NYSE:DQ)’s stock price rose 3.3% during mid-day trading on Tuesday . The stock traded as high as $18.85 and last traded at $18.66. Approximately 226,414 shares changed hands during mid-day trading, a decline of 78% from the average daily volume of 1,023,609 shares. The stock had previously closed at $18.06.

Analyst Ratings Changes

Separately, StockNews.com raised Daqo New Energy to a “sell” rating in a report on Tuesday, March 18th. One research analyst has rated the stock with a sell rating, one has issued a hold rating, four have given a buy rating and three have assigned a strong buy rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Buy” and a consensus price target of $22.26.

Daqo New Energy Stock Down 1.8 %

The stock has a market capitalization of $1.21 billion, a price-to-earnings ratio of -9.89 and a beta of 0.41. The stock’s 50-day simple moving average is $19.58 and its 200 day simple moving average is $19.68.

Daqo New Energy (NYSE:DQ) last announced its earnings results on Thursday, February 27th. The semiconductor company reported ($2.71) EPS for the quarter, missing the consensus estimate of ($0.69) by ($2.02). Daqo New Energy had a negative return on equity of 1.90% and a negative net margin of 9.16%. The business had revenue of $195.36 million during the quarter, compared to analyst estimates of $153.54 million. As a group, equities research analysts anticipate that Daqo New Energy Corp. will post -3.5 earnings per share for the current year.

Institutional Trading of Daqo New Energy

Hedge funds and other institutional investors have recently made changes to their positions in the business. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its position in Daqo New Energy by 32.2% during the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 135,732 shares of the semiconductor company’s stock worth $2,765,000 after buying an additional 33,031 shares in the last quarter. Public Employees Retirement System of Ohio acquired a new position in shares of Daqo New Energy during the third quarter worth approximately $1,053,000. Ariose Capital Management Ltd grew its stake in shares of Daqo New Energy by 27.5% during the fourth quarter. Ariose Capital Management Ltd now owns 1,505,709 shares of the semiconductor company’s stock valued at $29,271,000 after purchasing an additional 324,585 shares during the last quarter. BNP Paribas Financial Markets grew its stake in shares of Daqo New Energy by 57.5% during the third quarter. BNP Paribas Financial Markets now owns 74,571 shares of the semiconductor company’s stock valued at $1,519,000 after purchasing an additional 27,223 shares during the last quarter. Finally, Geode Capital Management LLC increased its holdings in shares of Daqo New Energy by 9.2% in the third quarter. Geode Capital Management LLC now owns 33,546 shares of the semiconductor company’s stock valued at $683,000 after purchasing an additional 2,813 shares in the last quarter. 47.22% of the stock is currently 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.