DAQO New Energy (NYSE:DQ) Reaches New 52-Week Low – Here’s Why

DAQO New Energy Corp. (NYSE:DQ) shares reached a new 52-week low during mid-day trading on Tuesday . The stock traded as low as $13.62 and last traded at $13.6150, with a volume of 435 shares changing hands. The stock had previously closed at $13.90.

Analyst Upgrades and Downgrades

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

DAQO New Energy Trading Down 0.6%

The company has a fifty day moving average of $17.93 and a 200-day moving average of $22.95. The company has a market capitalization of $906.10 million, a price-to-earnings ratio of -4.82 and a beta of 0.61.

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 analysts’ consensus estimates of ($0.13) by ($1.18). The business had revenue of $26.72 million for the quarter, compared to analysts’ expectations of $186.28 million. DAQO New Energy had a negative return on equity of 3.19% and a negative net margin of 32.92%. As a group, equities research analysts expect that DAQO New Energy Corp. will post -1.31 EPS for the current year.

Institutional Trading of DAQO New Energy

Large investors have recently bought and sold shares of the business. Quarry LP purchased a new position in DAQO New Energy in the 3rd quarter worth approximately $26,000. Farther Finance Advisors LLC grew its position in shares of DAQO New Energy by 1,650.0% in the fourth quarter. Farther Finance Advisors LLC now owns 1,330 shares of the semiconductor company’s stock valued at $39,000 after purchasing an additional 1,254 shares in the last quarter. Caitong International Asset Management Co. Ltd purchased a new stake in shares of DAQO New Energy in the fourth quarter valued at approximately $49,000. Banque Cantonale Vaudoise acquired a new stake in shares of DAQO New Energy in the fourth quarter valued at approximately $55,000. Finally, Headlands Technologies LLC acquired a new stake in shares of DAQO New Energy in the second quarter valued at approximately $29,000. Hedge funds and other institutional investors own 47.22% of the company’s stock.

DAQO New Energy Company Profile

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.