Daqo New Energy (DQ) Trading 10.5% Higher

Daqo New Energy Corp (NYSE:DQ) shares traded up 10.5% during trading on Tuesday . The stock traded as high as $34.50 and last traded at $33.82. 544,600 shares changed hands during mid-day trading, an increase of 103% from the average session volume of 268,727 shares. The stock had previously closed at $30.60.

Several research analysts have recently commented on the company. Zacks Investment Research raised Daqo New Energy from a “hold” rating to a “buy” rating and set a $28.00 target price on the stock in a report on Monday, January 7th. TheStreet downgraded Daqo New Energy from a “b-” rating to a “c+” rating in a report on Wednesday, October 24th. One equities research analyst has rated the stock with a sell rating, one has given a hold rating and three have assigned a buy rating to the stock. The stock has an average rating of “Hold” and a consensus price target of $45.00.

The company has a quick ratio of 1.15, a current ratio of 1.26 and a debt-to-equity ratio of 0.23. The firm has a market capitalization of $398.59 million, a PE ratio of 4.19, a price-to-earnings-growth ratio of 0.30 and a beta of 2.12.

Large investors have recently bought and sold shares of the business. Jane Street Group LLC acquired a new position in Daqo New Energy during the 3rd quarter worth $300,000. Morgan Stanley lifted its holdings in Daqo New Energy by 65.2% during the 3rd quarter. Morgan Stanley now owns 498,156 shares of the semiconductor company’s stock worth $13,006,000 after buying an additional 196,663 shares in the last quarter. BlackRock Inc. acquired a new position in Daqo New Energy during the 2nd quarter worth $2,493,000. Jefferies Group LLC acquired a new position in Daqo New Energy during the 3rd quarter worth $281,000. Finally, Sensato Investors LLC acquired a new position in Daqo New Energy during the 3rd quarter worth $9,528,000. 37.19% of the stock is currently owned by hedge funds and other institutional investors.

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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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