Daqo New Energy (NYSE:DQ) Issues Quarterly Earnings Results, Misses Estimates By $2.02 EPS

Daqo New Energy (NYSE:DQ) released its earnings results on Thursday. The semiconductor company reported ($2.71) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.69) by ($2.02), Zacks reports. Daqo New Energy had a negative net margin of 9.16% and a negative return on equity of 1.90%.

Daqo New Energy Trading Up 0.9 %

NYSE:DQ traded up $0.20 during trading hours on Thursday, hitting $22.09. The company had a trading volume of 855,998 shares, compared to its average volume of 800,567. Daqo New Energy has a 1 year low of $13.62 and a 1 year high of $30.85. The company has a 50-day moving average of $19.67 and a 200 day moving average of $19.12. The company has a market cap of $1.46 billion, a P/E ratio of -11.97 and a beta of 0.25.

Analysts Set New Price Targets

A number of brokerages have recently issued reports on DQ. 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 raised shares of Daqo New Energy from a “neutral” rating to an “outperform” rating in a research note on Wednesday, October 30th. One investment analyst has rated the stock with a sell rating, one has given a hold rating, four have assigned a buy rating and three have issued a strong buy rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Buy” and an average target price of $22.26.

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.