Daqo New Energy (NYSE:DQ) Share Price Passes Above Two Hundred Day Moving Average of $45.13

Daqo New Energy Corp (NYSE:DQ) crossed above its 200-day moving average during trading on Monday . The stock has a 200-day moving average of $45.13 and traded as high as $54.60. Daqo New Energy shares last traded at $53.63, with a volume of 220,945 shares.

A number of brokerages have recently commented on DQ. Zacks Investment Research upgraded shares of Daqo New Energy from a “hold” rating to a “strong-buy” rating and set a $63.00 price target for the company in a report on Friday, January 3rd. JPMorgan Chase & Co. assumed coverage on shares of Daqo New Energy in a report on Thursday, November 14th. They set an “overweight” rating and a $50.00 price target for the company. Finally, ValuEngine raised shares of Daqo New Energy from a “sell” rating to a “hold” rating in a research report on Tuesday, December 3rd.

The company’s 50-day moving average is $51.00 and its 200-day moving average is $45.34. The company has a debt-to-equity ratio of 0.31, a current ratio of 0.43 and a quick ratio of 0.36. The firm has a market capitalization of $581.19 million, a price-to-earnings ratio of 36.84, a PEG ratio of 0.23 and a beta of 1.74.

Daqo New Energy (NYSE:DQ) last released its earnings results on Tuesday, November 12th. The semiconductor company reported $0.67 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.43 by $0.24. The business had revenue of $83.91 million for the quarter, compared to analysts’ expectations of $85.60 million. Daqo New Energy had a net margin of 6.79% and a return on equity of 5.68%. During the same period last year, the company earned $0.32 earnings per share. Sell-side analysts anticipate that Daqo New Energy Corp will post 1.9 earnings per share for the current year.

A number of hedge funds have recently made changes to their positions in DQ. Atria Investments LLC acquired a new position in Daqo New Energy during the second quarter valued at approximately $123,000. Zurcher Kantonalbank Zurich Cantonalbank lifted its position in shares of Daqo New Energy by 56.5% during the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 2,770 shares of the semiconductor company’s stock worth $142,000 after purchasing an additional 1,000 shares in the last quarter. Pictet Asset Management Ltd. acquired a new position in shares of Daqo New Energy during the second quarter worth $203,000. Jane Street Group LLC acquired a new position in shares of Daqo New Energy during the second quarter worth $239,000. Finally, Point72 Asset Management L.P. acquired a new position in shares of Daqo New Energy during the third quarter worth $267,000. 39.94% of the stock is currently owned by hedge funds and other institutional investors.

Daqo New Energy Company Profile (NYSE:DQ)

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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