DAQO New Energy Corp. (NYSE:DQ) Releases Quarterly Earnings Results, Misses Expectations By $0.09 EPS
DAQO New Energy Corp. (NYSE:DQ) issued its quarterly earnings results on Tuesday. The semiconductor company reported $1.29 EPS for the quarter, missing the consensus estimate of $1.38 by $0.09, RTT News reports. DAQO New Energy Corp. had a return on equity of 22.97% and a net margin of 22.75%. During the same quarter last year, the firm posted $1.87 EPS.
DAQO New Energy Corp. (NYSE DQ) traded down 9.3468% on Tuesday, reaching $26.6067. 400,762 shares of the company traded hands. The firm has a 50 day moving average of $21.44 and a 200-day moving average of $21.84. DAQO New Energy Corp. has a one year low of $18.01 and a one year high of $28.16. The stock has a market capitalization of $279.88 million, a PE ratio of 4.8323 and a beta of 1.75.
Several institutional investors have recently modified their holdings of the company. Rational Advisors LLC boosted its position in shares of DAQO New Energy Corp. by 18.4% in the first quarter. Rational Advisors LLC now owns 5,800 shares of the semiconductor company’s stock worth $109,000 after buying an additional 900 shares in the last quarter. Trexquant Investment LP purchased a new position in shares of DAQO New Energy Corp. during the first quarter worth about $196,000. ClariVest Asset Management LLC boosted its position in shares of DAQO New Energy Corp. by 5.4% in the first quarter. ClariVest Asset Management LLC now owns 10,713 shares of the semiconductor company’s stock worth $201,000 after buying an additional 546 shares in the last quarter. State of Wisconsin Investment Board purchased a new position in shares of DAQO New Energy Corp. during the first quarter worth about $217,000. Finally, Laurion Capital Management LP purchased a new position in shares of DAQO New Energy Corp. during the first quarter worth about $343,000. Institutional investors own 30.17% of the company’s stock.
Several equities research analysts have recently commented on the stock. BidaskClub upgraded shares of DAQO New Energy Corp. from a “sell” rating to a “hold” rating in a research report on Monday, July 24th. Zacks Investment Research upgraded shares of DAQO New Energy Corp. from a “hold” rating to a “strong-buy” rating and set a $27.00 price target for the company in a research report on Friday, July 21st. Finally, Roth Capital set a $35.00 price target on shares of DAQO New Energy Corp. and gave the stock a “buy” rating in a research report on Saturday, May 13th.
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About DAQO New Energy Corp.
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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