DAQO New Energy Corp. (DQ) Hits New 1-Year High at $45.90

DAQO New Energy Corp. (NYSE:DQ) reached a new 52-week high on Monday . The stock traded as high as $45.90 and last traded at $43.06, with a volume of 267100 shares traded. The stock had previously closed at $39.87.

Several equities research analysts recently weighed in on DQ shares. Zacks Investment Research upgraded DAQO New Energy Corp. from a “hold” rating to a “buy” rating and set a $29.00 target price for the company in a report on Thursday, September 14th. Roth Capital boosted their target price on DAQO New Energy Corp. from $40.00 to $45.00 and gave the stock a “buy” rating in a report on Monday, November 6th. BidaskClub upgraded DAQO New Energy Corp. from a “sell” rating to a “hold” rating in a report on Monday, July 24th. Finally, ValuEngine upgraded DAQO New Energy Corp. from a “buy” rating to a “strong-buy” rating in a report on Friday, September 1st. Two research analysts have rated the stock with a hold rating, two have issued a buy rating and one has given a strong buy rating to the company. The stock currently has a consensus rating of “Buy” and an average price target of $41.00.

The company has a quick ratio of 0.49, a current ratio of 0.57 and a debt-to-equity ratio of 0.34. The stock has a market cap of $466.91, a PE ratio of 6.97, a P/E/G ratio of 0.86 and a beta of 1.93.

A number of hedge funds and other institutional investors have recently modified their holdings of the business. Public Employees Retirement System of Ohio increased its position in DAQO New Energy Corp. by 264.5% in the 2nd quarter. Public Employees Retirement System of Ohio now owns 7,767 shares of the semiconductor company’s stock worth $161,000 after buying an additional 5,636 shares during the period. Granite Point Capital Management L.P. bought a new position in DAQO New Energy Corp. in the 3rd quarter worth approximately $290,000. Dynamic Technology Lab Private Ltd bought a new position in DAQO New Energy Corp. in the 2nd quarter worth approximately $210,000. Acadian Asset Management LLC increased its position in DAQO New Energy Corp. by 11.1% in the 2nd quarter. Acadian Asset Management LLC now owns 179,664 shares of the semiconductor company’s stock worth $3,729,000 after buying an additional 17,881 shares during the period. Finally, Ecofin Ltd. increased its position in DAQO New Energy Corp. by 22.3% in the 2nd quarter. Ecofin Ltd. now owns 103,205 shares of the semiconductor company’s stock worth $2,143,000 after buying an additional 18,846 shares during the period. 30.35% of the stock is currently owned by institutional investors.

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DAQO New Energy Corp. Company Profile

Daqo New Energy Corp. is a polysilicon manufacturer. The Company utilizes the chemical vapor deposition process, or the modified Siemens process, to produce polysilicon. The Company’s segments include Polysilicon and Wafer. The Company manufactures and sells polysilicon to photovoltaic product manufacturers, whereby the polysilicon is processed into ingots, wafers, cells and modules for solar power solutions.

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