Is Daqo New Energy Corp (DQ) a Buy? The Stock Rises Again

September 17, 2017 - By Dolores Ford

The stock of Daqo New Energy Corp (NYSE:DQ) is a huge mover today! The stock increased 5.75% or $1.53 on September 15, reaching $28.15. About 321,632 shares traded or 178.41% up from the average. Daqo New Energy Corp (NYSE:DQ) has declined 5.57% since September 17, 2016 and is downtrending. It has underperformed by 22.27% the S&P500.
The move comes after 6 months positive chart setup for the $296.09M company. It was reported on Sep, 17 by Barchart.com. We have $29.84 PT which if reached, will make NYSE:DQ worth $17.77 million more.

Wall Street await Daqo New Energy Corp (NYSE:DQ) to release earnings on November, 21. Analysts forecast earnings per share of $1.41, up exactly $0.22 or 18.49 % from 2014’s $1.19 EPS. The expected DQ’s profit could reach $14.83 million giving the stock 4.99 P/E in the case that $1.41 earnings per share is reported. After posting $1.19 EPS for the previous quarter, Daqo New Energy Corp’s analysts now forecast 18.49 % EPS growth.

Daqo New Energy Corp (NYSE:DQ) Ratings Coverage

Among 3 analysts covering Daqo New Energy (NYSE:DQ), 2 have Buy rating, 0 Sell and 1 Hold. Therefore 67% are positive. Daqo New Energy had 9 analyst reports since August 12, 2015 according to SRatingsIntel. The firm has “Buy” rating given on Friday, July 14 by Roth Capital. Roth Capital maintained Daqo New Energy Corp (NYSE:DQ) rating on Monday, June 5. Roth Capital has “Buy” rating and $3500 target. Morgan Stanley downgraded the shares of DQ in report on Tuesday, November 10 to “Equal-Weight” rating. The firm earned “Outperform” rating on Friday, December 18 by Northland Capital. The rating was maintained by Roth Capital on Sunday, August 13 with “Buy”. The firm earned “Buy” rating on Friday, May 26 by Roth Capital. As per Monday, June 26, the company rating was maintained by Roth Capital. Roth Capital maintained Daqo New Energy Corp (NYSE:DQ) rating on Friday, August 4. Roth Capital has “Buy” rating and $3500 target.

More notable recent Daqo New Energy Corp (NYSE:DQ) news were published by: Seekingalpha.com which released: “From Paris To Chongqing – Long On Daqo” on June 07, 2017, also Zacks.com with their article: “Can DAQO New Energy (DQ) Run Higher on Strong Earnings Estimate Revisions …” published on August 14, 2017, Zacks.com published: “Daqo New Energy (DQ) Shares March Higher, Can It Continue? July 28, 2017” on July 28, 2017. More interesting news about Daqo New Energy Corp (NYSE:DQ) were released by: Nasdaq.com and their article: “Why DAQO New Energy (DQ) Could Be Positioned for a Surge” published on May 18, 2017 as well as Seekingalpha.com‘s news article titled: “DAQO New Energy’s (DQ) CEO Gongda Yao on Q2 2017 Results – Earnings Call …” with publication date: August 08, 2017.

Daqo New Energy Corp. is a polysilicon manufacturer. The company has market cap of $296.09 million. The Firm utilizes the chemical vapor deposition process, or the modified Siemens process, to produce polysilicon. It has a 5.92 P/E ratio. The Company’s divisions include Polysilicon and Wafer.

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