Daqo New Energy (NYSE:DQ – Get Rating) will release its earnings data before the market opens on Wednesday, August 3rd. Analysts expect Daqo New Energy to post earnings of $6.46 per share for the quarter. Persons that are interested in registering for the company’s earnings conference call can do so using this link.
Daqo New Energy Trading Down 0.0 %
Shares of NYSE:DQ opened at $60.34 on Wednesday. The company has a market capitalization of $4.50 billion, a price-to-earnings ratio of 3.83 and a beta of 0.42. The business has a 50-day moving average price of $60.91 and a 200 day moving average price of $48.76. Daqo New Energy has a 12-month low of $32.20 and a 12-month high of $81.10.
Daqo New Energy announced that its board has authorized a stock repurchase program on Wednesday, June 1st that allows the company to buyback $0.00 in shares. This buyback authorization allows the semiconductor company to reacquire shares of its stock through open market purchases. Stock buyback programs are usually an indication that the company’s leadership believes its shares are undervalued.
Analysts Set New Price Targets
Several research analysts have commented on DQ shares. JPMorgan Chase & Co. raised 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. StockNews.com raised Daqo New Energy from a “buy” rating to a “strong-buy” rating in a report on Monday. TheStreet upgraded Daqo New Energy from a “c+” rating to a “b-” rating in a research report on Friday, May 6th. Finally, Daiwa Capital Markets upped their price objective on Daqo New Energy from $47.00 to $80.00 in a research report on Tuesday, July 12th. Three equities research analysts have rated the stock with a hold rating, two have assigned a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, Daqo New Energy presently has an average rating of “Moderate Buy” and a consensus price target of $80.82.
Hedge Funds Weigh In On Daqo New Energy
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Hedge funds have recently modified their holdings of the company. US Bancorp DE grew its holdings in shares of Daqo New Energy by 89.0% in the 1st quarter. US Bancorp DE now owns 1,981 shares of the semiconductor company’s stock worth $82,000 after acquiring an additional 933 shares during the last quarter. Ensign Peak Advisors Inc boosted its position in Daqo New Energy by 6.3% during the first quarter. Ensign Peak Advisors Inc now owns 4,250 shares of the semiconductor company’s stock valued at $176,000 after purchasing an additional 250 shares during the last quarter. Employees Retirement System of Texas acquired a new stake in Daqo New Energy during the first quarter valued at $270,000. Advisors Asset Management Inc. boosted its position in Daqo New Energy by 50.1% during the first quarter. Advisors Asset Management Inc. now owns 7,510 shares of the semiconductor company’s stock valued at $310,000 after purchasing an additional 2,506 shares during the last quarter. Finally, HighTower Advisors LLC acquired a new stake in Daqo New Energy during the first quarter valued at $324,000. 70.99% of the stock is currently owned by institutional investors and hedge funds.
Daqo New Energy Company Profile
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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