Daqo New Energy (NYSE:DQ) Shares Gap Down - Time to Sell?

Daqo New Energy Corp. (NYSE:DQ - Get Free Report) gapped down prior to trading on Friday . The stock had previously closed at $20.24, but opened at $19.59. Daqo New Energy shares last traded at $20.08, with a volume of 170,632 shares changing hands.

Analyst Ratings Changes

DQ has been the topic of a number of research reports. StockNews.com raised shares of Daqo New Energy to a "sell" rating in a report on Monday, September 23rd. 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 Daqo New Energy from a "hold" rating to a "strong-buy" rating in a research report on Wednesday, October 30th. Daiwa Capital Markets upgraded Daqo New Energy from a "neutral" rating to an "outperform" rating in a research report on Wednesday, October 30th. Finally, HSBC upgraded Daqo New Energy from a "hold" rating to a "buy" rating in a research report on Wednesday, October 2nd. One equities research analyst has rated the stock with a sell rating, one has issued a hold rating, four have given a buy rating and three have given a strong buy rating to the stock. According to MarketBeat.com, Daqo New Energy presently has an average rating of "Buy" and an average price target of $22.26.

Daqo New Energy Trading Up 3.0 %

The firm has a 50-day moving average of $20.11 and a 200 day moving average of $18.20. The company has a market cap of $1.38 billion, a P/E ratio of -11.27 and a beta of 0.28.

Daqo New Energy (NYSE:DQ - Get Free Report) last posted its quarterly earnings results on Wednesday, October 30th. The semiconductor company reported ($0.92) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of ($0.80) by ($0.12). The business had revenue of $198.50 million for the quarter, compared to the consensus estimate 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 company posted ($0.09) earnings per share. On average, equities analysts predict that Daqo New Energy Corp. will post -3.5 EPS for the current year.

Institutional Investors Weigh In On Daqo New Energy

Several hedge funds and other institutional investors have recently bought and sold shares of the stock. Sylebra Capital LLC increased its position in shares of Daqo New Energy by 103.9% during the second quarter. Sylebra Capital LLC now owns 943,692 shares of the semiconductor company's stock worth $13,778,000 after acquiring an additional 480,980 shares in the last quarter. Marshall Wace LLP increased its holdings in Daqo New Energy by 112.3% during the 2nd quarter. Marshall Wace LLP now owns 322,635 shares of the semiconductor company's stock worth $4,710,000 after purchasing an additional 170,660 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its stake in shares of Daqo New Energy by 32.2% in the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 135,732 shares of the semiconductor company's stock worth $2,765,000 after purchasing an additional 33,031 shares during the last quarter. Public Employees Retirement System of Ohio purchased a new stake in shares of Daqo New Energy in the third quarter worth approximately $1,053,000. Finally, BNP Paribas Financial Markets lifted its holdings in shares of Daqo New Energy by 57.5% in the third quarter. BNP Paribas Financial Markets now owns 74,571 shares of the semiconductor company's stock valued at $1,519,000 after purchasing an additional 27,223 shares in the last quarter. 47.22% of the stock is owned by institutional investors.

About Daqo New Energy

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.