Daqo New Energy (NYSE:DQ) Sets New 52-Week Low - Time to Sell?

Daqo New Energy Corp. (NYSE:DQ - Get Free Report) reached a new 52-week low during mid-day trading on Wednesday . The stock traded as low as $13.30 and last traded at $13.49, with a volume of 2100189 shares trading hands. The stock had previously closed at $15.86.

Wall Street Analyst Weigh In

Separately, StockNews.com upgraded shares of Daqo New Energy to a "sell" rating in a research report on Tuesday, March 18th. 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 given a strong buy rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of "Buy" and a consensus price target of $22.26.

Daqo New Energy Stock Performance

The firm has a 50-day moving average of $18.95 and a 200-day moving average of $19.65. The firm has a market capitalization of $984.82 million, a P/E ratio of -8.06 and a beta of 0.37.

Daqo New Energy (NYSE:DQ - Get Free Report) last posted its earnings results on Thursday, February 27th. The semiconductor company reported ($2.71) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.69) by ($2.02). The business had revenue of $195.36 million for the quarter, compared to analysts' expectations of $153.54 million. Daqo New Energy had a negative net margin of 9.16% and a negative return on equity of 1.90%. Equities analysts anticipate that Daqo New Energy Corp. will post -3.5 EPS for the current fiscal year.

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Hedge Funds Weigh In On Daqo New Energy

Institutional investors have recently added to or reduced their stakes in the company. Point72 Asset Management L.P. boosted its position in shares of Daqo New Energy by 67.5% in the 4th quarter. Point72 Asset Management L.P. now owns 886,655 shares of the semiconductor company's stock worth $17,237,000 after purchasing an additional 357,460 shares in the last quarter. Point72 Europe London LLP bought a new position in shares of Daqo New Energy during the fourth quarter valued at $3,742,000. Point72 Hong Kong Ltd bought a new stake in Daqo New Energy in the 4th quarter worth about $3,287,000. Nuveen Asset Management LLC raised its position in Daqo New Energy by 16.7% in the 4th quarter. Nuveen Asset Management LLC now owns 39,200 shares of the semiconductor company's stock worth $762,000 after buying an additional 5,600 shares during the last quarter. Finally, DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main purchased a new stake in shares of Daqo New Energy during the 4th quarter valued at about $3,732,000. 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.