Daqo New Energy (NYSE:DQ) Releases Earnings Results, Misses Estimates By $2.02 EPS

Daqo New Energy (NYSE:DQ) posted its quarterly earnings results on Thursday. The semiconductor company reported ($2.71) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.69) by ($2.02), Zacks reports. Daqo New Energy had a negative return on equity of 1.90% and a negative net margin of 9.16%.

Daqo New Energy Trading Down 1.8 %

Shares of Daqo New Energy stock traded down $0.40 during midday trading on Thursday, reaching $21.49. The company had a trading volume of 1,379,587 shares, compared to its average volume of 814,706. Daqo New Energy has a 1-year low of $13.62 and a 1-year high of $30.85. The company has a market capitalization of $1.42 billion, a price-to-earnings ratio of -11.61 and a beta of 0.25. The stock has a fifty day simple moving average of $19.67 and a 200 day simple moving average of $19.12.

Analysts Set New Price Targets

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

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.