Daqo New Energy (NYSE:DQ) Shares Up 7.3% – Still a Buy?

Daqo New Energy Corp. (NYSE:DQ) shot up 7.3% during mid-day trading on Thursday . The stock traded as high as $19.58 and last traded at $19.67. 430,604 shares were traded during trading, a decline of 34% from the average session volume of 651,122 shares. The stock had previously closed at $18.33.

Analyst Ratings Changes

Several analysts have recently commented on DQ shares. Daiwa America upgraded Daqo New Energy from a “hold” rating to a “strong-buy” rating in a report on Wednesday, October 30th. Daiwa Capital Markets upgraded Daqo New Energy from a “neutral” rating to an “outperform” rating in a research note on Wednesday, October 30th. One equities research analyst has rated the stock with a sell rating, one has given a hold rating, four have assigned a buy rating and three have assigned a strong buy rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Buy” and an average price target of $22.26.

Daqo New Energy Stock Up 6.8 %

The stock’s 50-day simple moving average is $18.97 and its two-hundred day simple moving average is $18.64. The company has a market capitalization of $1.29 billion, a price-to-earnings ratio of -10.52 and a beta of 0.25.

Institutional Inflows and Outflows

A number of institutional investors have recently bought and sold shares of the business. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its stake in Daqo New Energy by 32.2% during the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 135,732 shares of the semiconductor company’s stock worth $2,765,000 after buying an additional 33,031 shares during the period. Public Employees Retirement System of Ohio acquired a new position in shares of Daqo New Energy in the 3rd quarter worth approximately $1,053,000. Ariose Capital Management Ltd boosted its position in shares of Daqo New Energy by 27.5% during the 4th quarter. Ariose Capital Management Ltd now owns 1,505,709 shares of the semiconductor company’s stock worth $29,271,000 after purchasing an additional 324,585 shares during the period. BNP Paribas Financial Markets increased its holdings in Daqo New Energy by 57.5% in the 3rd quarter. BNP Paribas Financial Markets now owns 74,571 shares of the semiconductor company’s stock valued at $1,519,000 after purchasing an additional 27,223 shares during the last quarter. Finally, Geode Capital Management LLC increased its holdings in Daqo New Energy by 9.2% in the 3rd quarter. Geode Capital Management LLC now owns 33,546 shares of the semiconductor company’s stock valued at $683,000 after purchasing an additional 2,813 shares during the last quarter. 47.22% of the stock is owned by hedge funds and other institutional investors.

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.