Daqo New Energy Corp. (NYSE:DQ) shares saw strong trading volume on Monday . 89,746 shares were traded during trading, a decline of 9% from the previous session’s volume of 98,276 shares.The stock last traded at $20.62 and had previously closed at $22.10.

Separately, Zacks Investment Research downgraded Daqo New Energy Corp. from a “buy” rating to a “hold” rating in a report on Monday, June 20th. Two investment analysts have rated the stock with a hold rating and three have given a buy rating to the company. The company has an average rating of “Buy” and a consensus target price of $24.37.

The stock has a 50-day moving average of $24.14 and a 200 day moving average of $22.74. The company has a market capitalization of $211.07 million, a price-to-earnings ratio of 5.463 and a beta of 2.20.

Daqo New Energy Corp. (NYSE:DQ) last released its quarterly earnings results on Tuesday, August 9th. The company reported $2.10 earnings per share for the quarter, topping the consensus estimate of $1.02 by $1.08. The firm had revenue of $71 million for the quarter, compared to analysts’ expectations of $60.35 million. Daqo New Energy Corp. had a net margin of 18.28% and a return on equity of 19.62%. During the same quarter in the prior year, the firm posted ($0.09) earnings per share. On average, equities research analysts anticipate that Daqo New Energy Corp. will post $4.79 earnings per share for the current year.

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Walleye Trading LLC boosted its position in Daqo New Energy Corp. by 38.5% in the second quarter. Walleye Trading LLC now owns 5,400 shares of the company’s stock valued at $122,000 after buying an additional 1,500 shares during the last quarter. ClariVest Asset Management LLC boosted its position in Daqo New Energy Corp. by 24.1% in the second quarter. ClariVest Asset Management LLC now owns 6,905 shares of the company’s stock valued at $156,000 after buying an additional 1,341 shares during the last quarter. Granite Point Capital Management L.P. purchased a new position in Daqo New Energy Corp. during the second quarter valued at $1,297,000. Royce & Associates LP boosted its position in Daqo New Energy Corp. by 24.2% in the first quarter. Royce & Associates LP now owns 103,500 shares of the company’s stock valued at $1,926,000 after buying an additional 20,200 shares during the last quarter. Finally, Hsbc Holdings PLC purchased a new position in Daqo New Energy Corp. during the second quarter valued at $5,632,000. 29.25% of the stock is currently owned by hedge funds and other institutional investors.

About Daqo New Energy Corp.

Daqo New Energy Corp. is a holding company. The Company is a polysilicon manufacturer. It manufactures and sells polysilicon to photovoltaic product manufacturers, who further process its polysilicon into ingots, wafers, cells and modules for solar power solutions. Its segments include Polysilicon and Wafer.

5 Day Chart for NYSE:DQ

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