Daqo New Energy (NYSE:DQ) Trading Down 4.6% – What’s Next?

Daqo New Energy Corp. (NYSE:DQ) shares traded down 4.6% on Friday . The company traded as low as $18.32 and last traded at $18.32. 324,922 shares changed hands during trading, a decline of 72% from the average session volume of 1,178,452 shares. The stock had previously closed at $19.21.

Wall Street Analyst Weigh In

A number of research analysts have recently weighed in on DQ shares. Nomura Securities raised Daqo New Energy to a “strong-buy” rating in a research note on Wednesday, August 28th. Daiwa America raised Daqo New Energy from a “hold” rating to a “strong-buy” rating in a research report on Wednesday, October 30th. Jefferies Financial Group reduced their price target on Daqo New Energy from $38.40 to $34.05 and set a “buy” rating for the company in a report on Monday, August 26th. Hsbc Global Res raised shares of Daqo New Energy from a “hold” rating to a “strong-buy” rating in a research report on Wednesday, October 2nd. Finally, HSBC raised shares of Daqo New Energy from a “hold” rating to a “buy” rating in a research report on Wednesday, October 2nd. One 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 issued a strong buy rating to the company’s stock. According to data from MarketBeat, Daqo New Energy has an average rating of “Buy” and an average price target of $22.26.

Daqo New Energy Trading Down 2.1 %

The company’s 50-day moving average is $20.44 and its 200-day moving average is $18.42. The firm has a market cap of $1.24 billion, a price-to-earnings ratio of -10.43 and a beta of 0.32.

Daqo New Energy (NYSE:DQ) last posted its earnings results on Wednesday, October 30th. The semiconductor company reported ($0.92) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.80) by ($0.12). The company had revenue of $198.50 million during the quarter, compared to the consensus estimate of $186.90 million. Daqo New Energy had a negative net margin of 9.16% and a negative return on equity of 1.90%. During the same quarter in the prior year, the business earned ($0.09) EPS. Equities research analysts forecast that Daqo New Energy Corp. will post -3.5 EPS for the current year.

Hedge Funds Weigh In On Daqo New Energy

Institutional investors have recently added to or reduced their stakes in the stock. Shell Asset Management Co. boosted its stake in Daqo New Energy by 20.6% in the first quarter. Shell Asset Management Co. now owns 10,734 shares of the semiconductor company’s stock valued at $302,000 after acquiring an additional 1,834 shares during the last quarter. Caxton Associates LP raised its holdings in shares of Daqo New Energy by 250.3% in the 1st quarter. Caxton Associates LP now owns 140,787 shares of the semiconductor company’s stock worth $3,963,000 after purchasing an additional 100,594 shares during the period. Sylebra Capital LLC purchased a new position in Daqo New Energy in the first quarter valued at approximately $13,025,000. National Wealth Management Group LLC bought a new position in Daqo New Energy during the first quarter valued at $403,000. Finally, Boston Partners increased its position in Daqo New Energy by 3.3% in the first quarter. Boston Partners now owns 78,340 shares of the semiconductor company’s stock worth $2,205,000 after buying an additional 2,538 shares during the last quarter. Institutional investors own 47.22% of the company’s stock.

Daqo New Energy Company Profile

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.