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

Daqo New Energy Corp. (NYSE:DQ - Get Free Report)'s share price gapped down prior to trading on Monday . The stock had previously closed at $19.06, but opened at $18.66. Daqo New Energy shares last traded at $19.43, with a volume of 67,726 shares changing hands.

Wall Street Analysts Forecast Growth

Separately, StockNews.com upgraded shares of Daqo New Energy to a "sell" rating in a report on Tuesday. One investment analyst has rated the stock with a sell rating, one has given a hold rating, four have issued a buy rating and three have issued a strong buy rating to the company's stock. According to data from MarketBeat.com, the stock has a consensus rating of "Buy" and a consensus target price of $22.26.

Daqo New Energy Stock Down 3.3 %

The business's 50 day moving average is $19.63 and its 200 day moving average is $19.55. The company has a market cap of $1.27 billion, a P/E ratio of -10.44 and a beta of 0.41.

Daqo New Energy (NYSE:DQ - Get Free Report) last announced its quarterly earnings results on Thursday, February 27th. The semiconductor company reported ($2.71) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of ($0.69) by ($2.02). The company had revenue of $195.36 million during 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%. As a group, equities research analysts forecast that Daqo New Energy Corp. will post -3.5 EPS for the current year.

Remove Ads

Hedge Funds Weigh In On Daqo New Energy

A number of large investors have recently added to or reduced their stakes in DQ. Generali Investments CEE investicni spolecnost a.s. purchased a new position in shares of Daqo New Energy in the 4th quarter worth approximately $52,000. Daiwa Securities Group Inc. grew its holdings in Daqo New Energy by 15.4% in the third quarter. Daiwa Securities Group Inc. now owns 10,500 shares of the semiconductor company's stock worth $214,000 after purchasing an additional 1,400 shares during the last quarter. Point72 Asia Singapore Pte. Ltd. grew its holdings in Daqo New Energy by 66.1% in the third quarter. Point72 Asia Singapore Pte. Ltd. now owns 14,000 shares of the semiconductor company's stock worth $285,000 after purchasing an additional 5,570 shares during the last quarter. Diametric Capital LP increased its position in shares of Daqo New Energy by 25.5% during the fourth quarter. Diametric Capital LP now owns 16,018 shares of the semiconductor company's stock worth $311,000 after purchasing an additional 3,255 shares in the last quarter. Finally, Van ECK Associates Corp lifted its holdings in shares of Daqo New Energy by 7.6% during the 4th quarter. Van ECK Associates Corp now owns 20,067 shares of the semiconductor company's stock valued at $390,000 after purchasing an additional 1,410 shares during the last quarter. 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.