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 Tuesday . The stock had previously closed at $22.23, but opened at $21.16. Daqo New Energy shares last traded at $21.45, with a volume of 113,653 shares changing hands.

Wall Street Analysts Forecast Growth

DQ has been the topic of several research reports. Daiwa America raised Daqo New Energy from a "hold" rating to a "strong-buy" rating in a report on Wednesday, October 30th. Daiwa Capital Markets raised shares of Daqo New Energy from a "neutral" rating to an "outperform" rating in a research note on Wednesday, October 30th. One research analyst has rated the stock with a sell rating, one has given a hold rating, four have issued a buy rating and three have assigned a strong buy rating to the company's stock. According to MarketBeat, the company presently has a consensus rating of "Buy" and a consensus price target of $22.26.

Daqo New Energy Stock Down 0.5 %

The firm has a market capitalization of $1.42 billion, a price-to-earnings ratio of -11.65 and a beta of 0.25. The stock's 50 day moving average price is $19.06 and its two-hundred day moving average price is $18.79.

Institutional Investors Weigh In On Daqo New Energy

Large investors have recently bought and sold shares of the business. Generali Investments CEE investicni spolecnost a.s. bought a new stake in Daqo New Energy in the fourth quarter worth $52,000. Signaturefd LLC boosted its holdings in Daqo New Energy by 27.3% in the third quarter. Signaturefd LLC now owns 2,809 shares of the semiconductor company's stock worth $57,000 after purchasing an additional 602 shares in the last quarter. Blue Trust Inc. boosted its holdings in Daqo New Energy by 132.3% in the third quarter. Blue Trust Inc. now owns 4,567 shares of the semiconductor company's stock worth $93,000 after purchasing an additional 2,601 shares in the last quarter. Daiwa Securities Group Inc. boosted its holdings in Daqo New Energy by 15.4% during the third quarter. Daiwa Securities Group Inc. now owns 10,500 shares of the semiconductor company's stock valued at $214,000 after acquiring an additional 1,400 shares during the period. Finally, Point72 Asia Singapore Pte. Ltd. boosted its holdings in Daqo New Energy by 66.1% during the third quarter. Point72 Asia Singapore Pte. Ltd. now owns 14,000 shares of the semiconductor company's stock valued at $285,000 after acquiring an additional 5,570 shares during the period. 47.22% of the stock is currently owned by institutional investors.

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.