Shares of Daqo New Energy Corp. (NYSE:DQ – Get Rating) gapped up prior to trading on Tuesday . The stock had previously closed at $37.74, but opened at $38.78. Daqo New Energy shares last traded at $38.56, with a volume of 162,312 shares traded.
Analysts Set New Price Targets
A number of brokerages have issued reports on DQ. StockNews.com began coverage on shares of Daqo New Energy in a research report on Thursday, May 18th. They issued a “hold” rating for the company. Daiwa Capital Markets upgraded shares of Daqo New Energy from a “neutral” rating to an “outperform” rating in a research note on Thursday, May 4th. Finally, HSBC boosted their target price on shares of Daqo New Energy from $44.60 to $45.60 in a research note on Monday, May 1st.
Daqo New Energy Price Performance
The stock has a market capitalization of $2.92 billion, a PE ratio of 1.90 and a beta of 0.51. The stock’s 50 day simple moving average is $44.68 and its two-hundred day simple moving average is $46.04.
Institutional Trading of Daqo New Energy
A number of institutional investors have recently modified their holdings of DQ. Bank of America Corp DE lifted its stake in shares of Daqo New Energy by 1,305.7% during the 1st quarter. Bank of America Corp DE now owns 1,981,937 shares of the semiconductor company’s stock valued at $92,834,000 after buying an additional 1,840,945 shares in the last quarter. Alpine Investment Management Ltd purchased a new stake in shares of Daqo New Energy during the 1st quarter valued at approximately $70,544,000. Tairen Capital Ltd lifted its stake in shares of Daqo New Energy by 195.8% during the 3rd quarter. Tairen Capital Ltd now owns 1,929,432 shares of the semiconductor company’s stock valued at $102,414,000 after buying an additional 1,277,247 shares in the last quarter. Morgan Stanley lifted its stake in shares of Daqo New Energy by 189.4% during the 4th quarter. Morgan Stanley now owns 1,839,118 shares of the semiconductor company’s stock valued at $71,008,000 after buying an additional 1,203,536 shares in the last quarter. Finally, Envestnet Asset Management Inc. lifted its stake in Daqo New Energy by 2,930.7% in the 1st quarter. Envestnet Asset Management Inc. now owns 985,296 shares of the semiconductor company’s stock worth $1,673,000 after purchasing an additional 952,786 shares in the last quarter.
About Daqo New Energy
Daqo New Energy Corp. is a holding company, which engages in the provision of polysilicon products. It involves in the manufacture and sale of polysilicon to photovoltaic product manufactures, who further process the polysilicon into ingots, wafers, cells, and modules for solar power solutions. The company was founded by Guang Fu Xu on November 22, 2007 and is headquartered in Shanghai, China.
- Get a free copy of the StockNews.com research report on Daqo New Energy (DQ)
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