Daqo New Energy Corp (NYSE:DQ)’s share price rose 5.1% during mid-day trading on Monday . The company traded as high as $41.14 and last traded at $40.04, approximately 290,495 shares were traded during mid-day trading. An increase of 14% from the average daily volume of 253,906 shares. The stock had previously closed at $38.08.
DQ has been the topic of a number of recent analyst reports. JPMorgan Chase & Co. initiated coverage on shares of Daqo New Energy in a report on Thursday, November 14th. They issued an “overweight” rating and a $50.00 price target on the stock. Roth Capital reissued a “buy” rating on shares of Daqo New Energy in a report on Wednesday, August 14th. ValuEngine raised shares of Daqo New Energy from a “sell” rating to a “hold” rating in a report on Tuesday. Finally, Zacks Investment Research downgraded shares of Daqo New Energy from a “buy” rating to a “hold” rating in a report on Tuesday, November 19th.
The business’s 50 day moving average is $38.96 and its two-hundred day moving average is $42.70. The firm has a market capitalization of $412.67 million, a PE ratio of 9.48, a P/E/G ratio of 0.67 and a beta of 1.69. The company has a debt-to-equity ratio of 0.31, a current ratio of 0.43 and a quick ratio of 0.36.
Institutional investors and hedge funds have recently made changes to their positions in the stock. Elephas Investment Management Ltd purchased a new stake in Daqo New Energy in the second quarter valued at approximately $2,134,000. Banco Santander S.A. purchased a new position in shares of Daqo New Energy during the third quarter worth approximately $1,383,000. Harvest Fund Management Co. Ltd raised its stake in shares of Daqo New Energy by 250.6% during the second quarter. Harvest Fund Management Co. Ltd now owns 454,211 shares of the semiconductor company’s stock worth $19,245,000 after acquiring an additional 324,657 shares in the last quarter. JPMorgan Chase & Co. raised its stake in shares of Daqo New Energy by 1,524.3% during the second quarter. JPMorgan Chase & Co. now owns 59,141 shares of the semiconductor company’s stock worth $2,468,000 after acquiring an additional 55,500 shares in the last quarter. Finally, BNP Paribas Arbitrage SA purchased a new position in shares of Daqo New Energy during the second quarter worth approximately $1,271,000. 40.40% of the stock is currently owned by institutional investors and hedge funds.
About Daqo New Energy (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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