Daqo New Energy Corp (NYSE:DQ) was upgraded by Morgan Stanley from an “equal weight” rating to an “overweight” rating in a research note issued on Monday, The Fly reports.

Shares of Daqo New Energy Corp (NYSE:DQ) traded up 0.88% on Monday, reaching $13.80. The company’s stock had a trading volume of 98,739 shares. Daqo New Energy Corp has a 52-week low of $11.30 and a 52-week high of $31.79. The stock has a 50-day moving average of $15.53 and a 200 day moving average of $16.05. The company has a market cap of $145.01 million and a price-to-earnings ratio of 19.74.

Daqo New Energy Corp (NYSE:DQ) last released its quarterly earnings data on Wednesday, November 18th. The company reported $0.60 earnings per share for the quarter, topping the consensus estimate of ($0.13) by $0.73. The business earned $46.60 million during the quarter, compared to analysts’ expectations of $45.30 million. During the same quarter last year, the business posted $0.64 EPS. On average, equities research analysts forecast that Daqo New Energy Corp will post $1.72 earnings per share for the current year.

DQ has been the subject of a number of other research reports. Zacks Investment Research upgraded Daqo New Energy Corp from a “strong sell” rating to a “buy” rating and set a $21.00 target price for the company in a research note on Tuesday, October 13th. Northland Securities started coverage on Daqo New Energy Corp in a research note on Friday, December 18th. They issued an “outperform” rating and a $37.00 target price for the company. Five equities research analysts have rated the stock with a buy rating, Daqo New Energy Corp presently has a consensus rating of “Buy” and a consensus price target of $30.62.

Daqo New Energy Corp. is a holding company. The Company is a polysilicon manufacturer. It manufactures and sells polysilicon to photovoltaic product manufacturers, who further process its polysilicon into ingots, wafers, cells and modules for solar power solutions. Its segments include Polysilicon and Wafer. Its operations are located in Chongqing and Xinjiang, which are in southwestern and northwestern China. The Company sells polysilicon to China-based photovoltaic product manufacturers. It offers ready-to-use polysilicon, packaged to meet crucible stacking, pulling and solidification needs. It also offers wafers through its downstream photovoltaic product manufacturing business. Its photovoltaic product customers include operating entities of Jiangsu Meike Silicon Energy, JinkoSolar, JA Solar, Shanghai Alex New Energy and LDK Solar.

12 Month Chart for NYSE:DQ

The Fly

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