Daqo New Energy (NYSE:DQ) Lifted to Strong-Buy at StockNews.com

Daqo New Energy (NYSE:DQGet Rating) was upgraded by StockNews.com from a “buy” rating to a “strong-buy” rating in a research note issued on Thursday.

DQ has been the topic of several other reports. TheStreet upgraded Daqo New Energy from a “c+” rating to a “b-” rating in a report on Friday, May 6th. JPMorgan Chase & Co. upgraded Daqo New Energy from a “neutral” rating to an “overweight” rating in a research report on Wednesday, May 4th. They noted that the move was a valuation call. Finally, Zacks Investment Research raised Daqo New Energy from a “hold” rating to a “buy” rating and set a $43.00 target price on the stock in a research note on Wednesday, February 23rd. Three research analysts have rated the stock with a hold rating, four have given a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Buy” and a consensus price target of $79.85.

Shares of DQ opened at $46.56 on Thursday. The firm has a 50 day simple moving average of $43.30 and a 200-day simple moving average of $45.03. Daqo New Energy has a 1-year low of $32.20 and a 1-year high of $90.48. The stock has a market cap of $3.47 billion, a price-to-earnings ratio of 2.95 and a beta of 0.73.

Daqo New Energy (NYSE:DQGet Rating) last released its earnings results on Thursday, April 21st. The semiconductor company reported $6.99 EPS for the quarter, topping the consensus estimate of $6.29 by $0.70. The firm had revenue of $1.28 billion during the quarter, compared to analysts’ expectations of $1.15 billion. Daqo New Energy had a net margin of 44.72% and a return on equity of 50.40%. During the same period in the previous year, the company earned $1.08 EPS. On average, equities analysts expect that Daqo New Energy will post 20.57 earnings per share for the current year.

Several hedge funds have recently added to or reduced their stakes in DQ. JJJ Advisors Inc. lifted its stake in shares of Daqo New Energy by 99.0% in the 1st quarter. JJJ Advisors Inc. now owns 599 shares of the semiconductor company’s stock valued at $25,000 after purchasing an additional 298 shares during the period. Signaturefd LLC grew its holdings in Daqo New Energy by 66.1% during the fourth quarter. Signaturefd LLC now owns 812 shares of the semiconductor company’s stock worth $33,000 after purchasing an additional 323 shares during the period. Maverick Capital Ltd. bought a new position in Daqo New Energy during the fourth quarter worth about $40,000. American International Group Inc. acquired a new stake in Daqo New Energy during the third quarter worth approximately $42,000. Finally, Quadrant Capital Group LLC lifted its position in Daqo New Energy by 80.5% during the first quarter. Quadrant Capital Group LLC now owns 1,139 shares of the semiconductor company’s stock worth $47,000 after acquiring an additional 508 shares during the last quarter. Institutional investors own 70.99% of the company’s stock.

About Daqo New Energy (Get Rating)

Daqo New Energy Corp., together with its subsidiaries, manufactures and sells polysilicon to photovoltaic product manufactures in the People's Republic of China. Its products are used in ingots, wafers, cells, and modules for solar power solutions. The company was formerly known as Mega Stand International Limited and changed its name to Daqo New Energy Corp.

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