Shares of Daqo New Energy Corp (NYSE:DQ) shot up 6.6% on Monday . The stock traded as high as $69.76 and last traded at $68.24. 589,400 shares were traded during trading, an increase of 14% from the average session volume of 517,578 shares. The stock had previously closed at $64.00.

Several research firms have weighed in on DQ. Roth Capital set a $65.00 target price on shares of Daqo New Energy and gave the company a “buy” rating in a research note on Monday, December 4th. Zacks Investment Research upgraded shares of Daqo New Energy from a “hold” rating to a “strong-buy” rating and set a $50.00 target price for the company in a research note on Monday, November 20th. Finally, TheStreet raised shares of Daqo New Energy from a “c+” rating to a “b” rating in a report on Wednesday, November 15th. One research analyst has rated the stock with a hold rating, two have issued a buy rating and two have issued a strong buy rating to the stock. The stock presently has a consensus rating of “Buy” and an average target price of $51.67.

The stock has a market cap of $717.77, a price-to-earnings ratio of 11.63, a PEG ratio of 1.75 and a beta of 2.13. The company has a current ratio of 0.57, a quick ratio of 0.49 and a debt-to-equity ratio of 0.34.

Daqo New Energy (NYSE:DQ) last announced its quarterly earnings results on Tuesday, November 14th. The semiconductor company reported $2.22 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.41 by $0.81. Daqo New Energy had a net margin of 21.42% and a return on equity of 21.51%. equities research analysts anticipate that Daqo New Energy Corp will post 7.18 EPS for the current year.

Several institutional investors and hedge funds have recently made changes to their positions in DQ. Quentec Asset Management LLC boosted its holdings in shares of Daqo New Energy by 5.0% during the second quarter. Quentec Asset Management LLC now owns 977,106 shares of the semiconductor company’s stock valued at $20,285,000 after acquiring an additional 46,888 shares during the period. Public Employees Retirement System of Ohio boosted its holdings in shares of Daqo New Energy by 264.5% during the second quarter. Public Employees Retirement System of Ohio now owns 7,767 shares of the semiconductor company’s stock valued at $161,000 after acquiring an additional 5,636 shares during the period. Dynamic Technology Lab Private Ltd acquired a new position in shares of Daqo New Energy during the second quarter valued at $210,000. Ecofin Ltd. boosted its holdings in shares of Daqo New Energy by 22.3% during the second quarter. Ecofin Ltd. now owns 103,205 shares of the semiconductor company’s stock valued at $2,143,000 after acquiring an additional 18,846 shares during the period. Finally, JPMorgan Chase & Co. boosted its holdings in shares of Daqo New Energy by 29,376.5% during the third quarter. JPMorgan Chase & Co. now owns 28,887 shares of the semiconductor company’s stock valued at $852,000 after acquiring an additional 28,789 shares during the period. 27.38% of the stock is owned by institutional investors.

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Daqo New Energy Company Profile

Daqo New Energy Corp. is a polysilicon manufacturer. The Company utilizes the chemical vapor deposition process, or the modified Siemens process, to produce polysilicon. The Company’s segments include Polysilicon and Wafer. The Company manufactures and sells polysilicon to photovoltaic product manufacturers, whereby the polysilicon is processed into ingots, wafers, cells and modules for solar power solutions.

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