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

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

Analyst Ratings Changes

A number of research analysts have recently issued reports on DQ shares. Daiwa Capital Markets upgraded Daqo New Energy from a “neutral” rating to an “outperform” rating in a research report on Wednesday, October 30th. Hsbc Global Res raised shares of Daqo New Energy from a “hold” rating to a “strong-buy” rating in a research note on Wednesday, October 2nd. 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. Roth Mkm reduced their target price on Daqo New Energy from $23.00 to $15.00 and set a “neutral” rating for the company in a report on Wednesday, August 28th. Finally, HSBC upgraded 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 assigned a hold rating, four have assigned a buy rating and three have assigned a strong buy rating to the company. According to MarketBeat.com, Daqo New Energy currently has an average rating of “Buy” and a consensus price target of $22.26.

Daqo New Energy Trading Down 2.1 %

The stock’s fifty day simple moving average is $20.49 and its 200 day simple moving average is $18.41. The company has a market cap of $1.24 billion, a price-to-earnings ratio of -10.16 and a beta of 0.32.

Daqo New Energy (NYSE:DQ) last announced its quarterly earnings data on Wednesday, October 30th. The semiconductor company reported ($0.92) EPS for the quarter, missing analysts’ consensus estimates of ($0.80) by ($0.12). The company had revenue of $198.50 million for the quarter, compared to analysts’ expectations of $186.90 million. Daqo New Energy had a negative return on equity of 1.90% and a negative net margin of 9.16%. During the same quarter in the previous year, the business posted ($0.09) EPS. On average, analysts predict that Daqo New Energy Corp. will post -3.5 EPS for the current year.

Institutional Inflows and Outflows

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