Daqo New Energy (NYSE:DQ) Stock Rating Reaffirmed by Roth Capital

Daqo New Energy (NYSE:DQ)‘s stock had its “buy” rating reissued by equities research analysts at Roth Capital in a report issued on Wednesday, Zacks.com reports.

Several other research firms have also commented on DQ. ValuEngine raised Daqo New Energy from a “hold” rating to a “buy” rating in a research report on Monday, June 3rd. Zacks Investment Research raised Daqo New Energy from a “strong sell” rating to a “hold” rating in a research report on Tuesday, May 14th. One analyst has rated the stock with a hold rating and three have issued a buy rating to the company. The stock currently has an average rating of “Buy” and a consensus price target of $43.50.

Daqo New Energy stock traded up $0.88 during midday trading on Wednesday, hitting $42.22. 4,236 shares of the company were exchanged, compared to its average volume of 167,127. The company’s fifty day moving average price is $42.52 and its 200-day moving average price is $37.95. The company has a market cap of $457.97 million, a PE ratio of 9.58, a price-to-earnings-growth ratio of 0.71 and a beta of 1.83. The company has a debt-to-equity ratio of 0.27, a current ratio of 0.86 and a quick ratio of 0.76. Daqo New Energy has a fifty-two week low of $20.35 and a fifty-two week high of $46.20.

Daqo New Energy (NYSE:DQ) last released its quarterly earnings results on Wednesday, August 14th. The semiconductor company reported ($0.20) EPS for the quarter, missing the consensus estimate of ($0.11) by ($0.09). The company had revenue of $65.96 million for the quarter, compared to analyst estimates of $69.80 million. Daqo New Energy had a return on equity of 8.59% and a net margin of 4.51%. During the same period last year, the firm posted $1.36 earnings per share. On average, analysts expect that Daqo New Energy will post 2.05 EPS for the current fiscal year.

Hedge funds have recently bought and sold shares of the business. First Trust Advisors LP raised its position in Daqo New Energy by 3.8% during the first quarter. First Trust Advisors LP now owns 9,808 shares of the semiconductor company’s stock valued at $324,000 after buying an additional 359 shares during the period. Northern Trust Corp increased its position in Daqo New Energy by 8.0% in the 2nd quarter. Northern Trust Corp now owns 12,262 shares of the semiconductor company’s stock worth $519,000 after purchasing an additional 912 shares during the last quarter. Shell Asset Management Co. acquired a new position in Daqo New Energy in the 1st quarter worth about $112,000. Bank of Montreal Can acquired a new position in Daqo New Energy in the 1st quarter worth about $144,000. Finally, Pictet Asset Management Ltd. acquired a new position in Daqo New Energy in the 2nd quarter worth about $203,000. Institutional investors own 32.69% of the company’s stock.

About Daqo New Energy

Daqo New Energy Corp., together with its subsidiaries, manufactures and sells polysilicon and wafers in the People's Republic of China. It operates through two segments, Polysilicon and Wafers. The company offers polysilicon to photovoltaic product manufacturers who further process its polysilicon into ingots, wafers, cells, and modules for solar power solutions.

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