Daqo New Energy (NYSE:DQ) Shares Gap Up – Should You Buy?

Daqo New Energy Corp. (NYSE:DQ)’s share price gapped up before the market opened on Friday . The stock had previously closed at $18.26, but opened at $18.64. Daqo New Energy shares last traded at $18.56, with a volume of 144,480 shares.

Wall Street Analyst Weigh In

Separately, StockNews.com upgraded Daqo New Energy to a “sell” rating in a research report on Tuesday, March 18th. One analyst has rated the stock with a sell rating, one has given a hold rating, four have issued a buy rating and three have given a strong buy rating to the company. According to MarketBeat.com, the company presently has an average rating of “Buy” and a consensus price target of $22.26.

Daqo New Energy Stock Performance

The company has a market capitalization of $1.22 billion, a price-to-earnings ratio of -10.03 and a beta of 0.41. The company has a fifty day simple moving average of $19.56 and a two-hundred day simple moving average of $19.74.

Daqo New Energy (NYSE:DQ) last released its earnings results on Thursday, February 27th. The semiconductor company reported ($2.71) EPS for the quarter, missing the consensus estimate of ($0.69) by ($2.02). Daqo New Energy had a negative net margin of 9.16% and a negative return on equity of 1.90%. The business had revenue of $195.36 million during the quarter, compared to analyst estimates of $153.54 million. As a group, analysts expect that Daqo New Energy Corp. will post -3.5 EPS for the current year.

Hedge Funds Weigh In On Daqo New Energy

Institutional investors and hedge funds have recently bought and sold shares of the stock. Generali Investments CEE investicni spolecnost a.s. purchased a new stake in shares of Daqo New Energy during the 4th quarter valued at $52,000. Daiwa Securities Group Inc. boosted its holdings in Daqo New Energy by 15.4% in the third quarter. Daiwa Securities Group Inc. now owns 10,500 shares of the semiconductor company’s stock valued at $214,000 after acquiring an additional 1,400 shares during the last quarter. Point72 Asia Singapore Pte. Ltd. grew its position in Daqo New Energy by 66.1% during the third quarter. Point72 Asia Singapore Pte. Ltd. now owns 14,000 shares of the semiconductor company’s stock valued at $285,000 after acquiring an additional 5,570 shares during the period. Diametric Capital LP increased its stake in Daqo New Energy by 25.5% during the fourth quarter. Diametric Capital LP now owns 16,018 shares of the semiconductor company’s stock worth $311,000 after acquiring an additional 3,255 shares during the last quarter. Finally, Van ECK Associates Corp raised its holdings in shares of Daqo New Energy by 7.6% in the 4th quarter. Van ECK Associates Corp now owns 20,067 shares of the semiconductor company’s stock worth $390,000 after purchasing an additional 1,410 shares during the period. Institutional investors and hedge funds own 47.22% of the company’s stock.

About Daqo New Energy

Daqo New Energy Corp., together with its subsidiaries, manufactures and sells polysilicon to photovoltaic product manufacturers 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.