DAQO New Energy (NYSE:DQ) Trading Down 5.5% – What’s Next?

DAQO New Energy Corp. (NYSE:DQ) shares fell 5.5% during trading on Monday . The stock traded as low as $15.51 and last traded at $15.4220. 258,548 shares were traded during trading, a decline of 67% from the average session volume of 772,317 shares. The stock had previously closed at $16.32.

Analysts Set New Price Targets

Several research firms have commented on DQ. Roth Mkm set a $19.00 price objective on shares of DAQO New Energy in a report on Thursday, April 30th. Wall Street Zen downgraded shares of DAQO New Energy from a “hold” rating to a “strong sell” rating in a report on Saturday, May 2nd. Weiss Ratings raised shares of DAQO New Energy from a “sell (e+)” rating to a “sell (d-)” rating in a report on Wednesday, May 27th. Finally, Zacks Research downgraded shares of DAQO New Energy from a “hold” rating to a “strong sell” rating in a report on Monday, May 4th. One analyst has rated the stock with a Strong Buy rating, one has given a Buy rating, two have issued a Hold rating and three have given a Sell rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and an average price target of $23.59.

DAQO New Energy Stock Down 6.9%

The firm has a market cap of $1.03 billion, a P/E ratio of -5.47 and a beta of 0.61. The company’s 50 day simple moving average is $19.63 and its 200-day simple moving average is $24.47.

DAQO New Energy (NYSE:DQ) last announced its quarterly earnings data on Wednesday, April 29th. The semiconductor company reported ($1.31) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.13) by ($1.18). The firm had revenue of $26.72 million during the quarter, compared to the consensus estimate of $186.28 million. DAQO New Energy had a negative return on equity of 3.19% and a negative net margin of 32.92%. Equities research analysts predict that DAQO New Energy Corp. will post -1.31 EPS for the current year.

Institutional Trading of DAQO New Energy

Several institutional investors have recently added to or reduced their stakes in DQ. Quarry LP purchased a new position in shares of DAQO New Energy during the third quarter worth approximately $26,000. Headlands Technologies LLC purchased a new position in shares of DAQO New Energy during the second quarter worth approximately $29,000. Farther Finance Advisors LLC increased its position in shares of DAQO New Energy by 1,650.0% during the fourth quarter. Farther Finance Advisors LLC now owns 1,330 shares of the semiconductor company’s stock worth $39,000 after acquiring an additional 1,254 shares during the period. Caitong International Asset Management Co. Ltd purchased a new position in shares of DAQO New Energy during the fourth quarter worth approximately $49,000. Finally, Banque Cantonale Vaudoise purchased a new position in shares of DAQO New Energy during the fourth quarter worth approximately $55,000. Institutional investors own 47.22% of the company’s stock.

About DAQO New Energy

DAQO New Energy Corp. operates as a leading manufacturer of high-purity polysilicon and monocrystalline silicon wafers for the global solar photovoltaic industry. The company focuses on serving module makers and integrated solar producers with critical upstream materials, applying proprietary technologies and optimized processes to achieve high product purity and consistently low production costs. Its core offerings include solar-grade polysilicon—used in the ingot casting and wafer slicing stages—and premium mono-silicon wafers, which are a key input for high-efficiency solar cell production.

Founded in the late 2000s and listed on the New York Stock Exchange in 2010, DAQO New Energy established its first polysilicon facility in China’s Xinjiang Uygur Autonomous Region.