DAQO New Energy (NYSE:DQ) Shares Gap Down – What’s Next?

DAQO New Energy Corp. (NYSE:DQ) gapped down prior to trading on Tuesday . The stock had previously closed at $14.43, but opened at $13.77. DAQO New Energy shares last traded at $13.6990, with a volume of 160,468 shares trading hands.

Analyst Ratings Changes

A number of equities research analysts recently weighed in on DQ shares. Roth Capital set a $19.00 price target on shares of DAQO New Energy in a research note on Thursday, April 30th. New Street Research set a $10.00 price objective on shares of DAQO New Energy in a research note on Monday. JPMorgan Chase & Co. lowered their target price on shares of DAQO New Energy from $35.50 to $22.00 and set an “overweight” rating for the company in a report on Friday, July 31st. Wall Street Zen cut shares of DAQO New Energy from a “hold” rating to a “strong sell” rating in a research report on Saturday, May 2nd. Finally, Weiss Ratings raised DAQO New Energy from a “sell (e+)” rating to a “sell (d-)” rating in a research note on Tuesday, August 11th. One research analyst has rated the stock with a Strong Buy rating, two have given a Buy rating, one has assigned a Hold rating and four have issued a Sell rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Hold” and an average price target of $21.02.

DAQO New Energy Trading Down 2.1%

The company has a market capitalization of $955.50 million, a P/E ratio of -4.99 and a beta of 0.66. The business has a 50 day moving average price of $13.12 and a 200 day moving average price of $18.13.

DAQO New Energy (NYSE:DQ) last announced its quarterly earnings results on Thursday, August 20th. The semiconductor company reported ($1.20) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.57) by ($0.63). DAQO New Energy had a negative net margin of 34.50% and a negative return on equity of 3.26%. The firm had revenue of $62.66 million during the quarter, compared to analyst estimates of $52.93 million. On average, analysts forecast that DAQO New Energy Corp. will post -1.96 EPS for the current fiscal year.

Institutional Investors Weigh In On DAQO New Energy

Several hedge funds have recently bought and sold shares of DQ. Renaissance Technologies LLC bought a new position in DAQO New Energy during the first quarter worth about $3,285,000. Banque Cantonale Vaudoise grew its stake in DAQO New Energy by 37.5% in the first quarter. Banque Cantonale Vaudoise now owns 2,579 shares of the semiconductor company’s stock valued at $55,000 after acquiring an additional 703 shares during the period. SG Americas Securities LLC increased its holdings in shares of DAQO New Energy by 58.1% in the first quarter. SG Americas Securities LLC now owns 67,643 shares of the semiconductor company’s stock worth $1,439,000 after acquiring an additional 24,855 shares in the last quarter. Caitong International Asset Management Co. Ltd bought a new stake in shares of DAQO New Energy in the fourth quarter worth about $49,000. Finally, MidFirst Bank acquired a new stake in shares of DAQO New Energy during the fourth quarter worth about $236,000. 47.22% of the stock is currently owned by institutional investors and hedge funds.

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.