DAQO New Energy (NYSE:DQ) Sets New 12-Month Low – Should You Sell?

Shares of DAQO New Energy Corp. (NYSE:DQ) reached a new 52-week low during trading on Monday . The stock traded as low as $12.52 and last traded at $12.8310, with a volume of 599268 shares trading hands. The stock had previously closed at $12.84.

Analyst Upgrades and Downgrades

DQ has been the topic of a number of research reports. Weiss Ratings downgraded shares of DAQO New Energy from a “sell (d-)” rating to a “sell (e+)” rating in a report on Wednesday, June 17th. Roth Mkm set a $19.00 price target on shares of DAQO New Energy in a report on Thursday, April 30th. Zacks Research cut DAQO New Energy from a “hold” rating to a “strong sell” rating in a research note on Monday, May 4th. Finally, Wall Street Zen downgraded DAQO New Energy from a “hold” rating to a “strong sell” rating in a research report on Saturday, May 2nd. One equities research analyst has rated the stock with a Strong Buy rating, one has issued a Buy rating, two have assigned a Hold rating and three have assigned a Sell rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus price target of $23.59.

DAQO New Energy Price Performance

The firm has a market cap of $849.26 million, a P/E ratio of -4.52 and a beta of 0.61. The stock’s 50-day simple moving average is $17.59 and its two-hundred day simple moving average is $22.68.

DAQO New Energy (NYSE:DQ) last released its earnings results 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). DAQO New Energy had a negative return on equity of 3.19% and a negative net margin of 32.92%.The firm had revenue of $26.72 million during the quarter, compared to the consensus estimate of $186.28 million. As a group, sell-side analysts expect that DAQO New Energy Corp. will post -1.31 earnings per share for the current year.

Institutional Inflows and Outflows

Several large investors have recently modified their holdings of the business. Quarry LP purchased a new position in DAQO New Energy during the 3rd quarter valued at $26,000. Headlands Technologies LLC bought a new stake in shares of DAQO New Energy during the second quarter worth $29,000. Farther Finance Advisors LLC lifted 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 purchasing an additional 1,254 shares during the last quarter. Caitong International Asset Management Co. Ltd purchased a new stake in shares of DAQO New Energy during the fourth quarter valued at $49,000. Finally, Banque Cantonale Vaudoise purchased a new stake in shares of DAQO New Energy during the fourth quarter valued at $55,000. Hedge funds and other 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.