Daqo New Energy (NYSE:DQ) Trading Down 4.6% - Time to Sell?

Daqo New Energy Corp. (NYSE:DQ - Get Free Report)'s share price fell 4.6% during mid-day trading on Friday . The stock traded as low as $18.32 and last traded at $18.32. 324,922 shares were traded during trading, a decline of 72% from the average session volume of 1,178,452 shares. The stock had previously closed at $19.21.

Analyst Ratings Changes

A number of equities analysts recently commented on the company. Nomura Securities raised Daqo New Energy to a "strong-buy" rating in a research note on Wednesday, August 28th. Hsbc Global Res upgraded Daqo New Energy from a "hold" rating to a "strong-buy" rating in a report on Wednesday, October 2nd. Daiwa Capital Markets raised shares of Daqo New Energy from a "neutral" rating to an "outperform" rating in a research report on Wednesday, October 30th. Daiwa America upgraded shares of Daqo New Energy from a "hold" rating to a "strong-buy" rating in a report on Wednesday, October 30th. Finally, Roth Mkm dropped their price objective on shares of Daqo New Energy from $23.00 to $15.00 and set a "neutral" rating on the stock in a research note on Wednesday, August 28th. One equities 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 given a strong buy rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of "Buy" and a consensus target price of $22.26.

Daqo New Energy Trading Down 2.1 %

The stock has a market cap of $1.24 billion, a price-to-earnings ratio of -10.43 and a beta of 0.32. The firm's 50 day moving average is $20.44 and its two-hundred day moving average is $18.42.

Daqo New Energy (NYSE:DQ - Get Free Report) last released its quarterly earnings data on Wednesday, October 30th. The semiconductor company reported ($0.92) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.80) by ($0.12). Daqo New Energy had a negative return on equity of 1.90% and a negative net margin of 9.16%. The business had revenue of $198.50 million during the quarter, compared to analyst estimates of $186.90 million. During the same period in the previous year, the company earned ($0.09) EPS. As a group, equities analysts expect that Daqo New Energy Corp. will post -3.5 EPS for the current fiscal year.

Institutional Trading of Daqo New Energy

Hedge funds have recently modified their holdings of the business. Shell Asset Management Co. lifted its position in Daqo New Energy by 20.6% in the 1st quarter. Shell Asset Management Co. now owns 10,734 shares of the semiconductor company's stock worth $302,000 after buying an additional 1,834 shares in the last quarter. Caxton Associates LP grew its stake in Daqo New Energy by 250.3% in the first quarter. Caxton Associates LP now owns 140,787 shares of the semiconductor company's stock valued at $3,963,000 after purchasing an additional 100,594 shares in the last quarter. Sylebra Capital LLC bought a new stake in Daqo New Energy in the first quarter worth approximately $13,025,000. National Wealth Management Group LLC bought a new position in Daqo New Energy during the first quarter valued at about $403,000. Finally, Boston Partners grew its stake in Daqo New Energy by 3.3% in the 1st quarter. Boston Partners now owns 78,340 shares of the semiconductor company's stock valued at $2,205,000 after buying an additional 2,538 shares during the last quarter. Hedge funds and other 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.

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