Daqo New Energy (NYSE:DQ) Shares Down 5.2% - Here's What Happened

Daqo New Energy Corp. (NYSE:DQ - Get Free Report)'s share price traded down 5.2% during trading on Wednesday . The company traded as low as $18.89 and last traded at $19.19. 181,647 shares were traded during mid-day trading, a decline of 78% from the average session volume of 814,760 shares. The stock had previously closed at $20.24.

Analysts Set New Price Targets

Separately, StockNews.com raised Daqo New Energy to a "sell" rating in a report on Monday, March 3rd. One analyst has rated the stock with a sell rating, one has issued a hold rating, four have assigned a buy rating and three have issued a strong buy rating to the stock. According to MarketBeat.com, the stock presently has an average rating of "Buy" and a consensus price target of $22.26.

Daqo New Energy Price Performance

The company has a market cap of $1.26 billion, a P/E ratio of -10.31 and a beta of 0.41. The company has a 50 day moving average of $19.84 and a 200-day moving average of $19.33.

Daqo New Energy (NYSE:DQ - Get Free Report) last posted its quarterly earnings data 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 the consensus estimate of $153.54 million. Daqo New Energy had a negative net margin of 9.16% and a negative return on equity of 1.90%. Research analysts anticipate that Daqo New Energy Corp. will post -3.5 EPS for the current year.

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Institutional Investors Weigh In On Daqo New Energy

Large investors have recently added to or reduced their stakes in the business. Generali Investments CEE investicni spolecnost a.s. bought a new stake in Daqo New Energy during the fourth quarter valued at $52,000. Daiwa Securities Group Inc. boosted its stake 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 buying an additional 1,400 shares during the period. Point72 Asia Singapore Pte. Ltd. raised its position 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 purchasing an additional 5,570 shares in the last quarter. Diametric Capital LP raised its position in Daqo New Energy by 25.5% during the fourth quarter. Diametric Capital LP now owns 16,018 shares of the semiconductor company's stock valued at $311,000 after purchasing an additional 3,255 shares in the last quarter. Finally, Van ECK Associates Corp raised its position in Daqo New Energy by 7.6% during the fourth 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 in the last quarter. 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.