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

DAQO New Energy Corp. (NYSE:DQ)’s share price gapped down before the market opened on Thursday . The stock had previously closed at $29.19, but opened at $27.16. DAQO New Energy shares last traded at $26.1190, with a volume of 595,143 shares trading hands.

Analyst Ratings Changes

Several research firms recently weighed in on DQ. Wall Street Zen upgraded shares of DAQO New Energy from a “sell” rating to a “hold” rating in a report on Monday, November 3rd. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of DAQO New Energy in a research note on Monday, December 29th. New Street Research set a $15.40 price target on shares of DAQO New Energy in a research report on Thursday, September 18th. Roth Capital set a $30.00 price objective on shares of DAQO New Energy and gave the stock a “neutral” rating in a report on Tuesday, October 28th. Finally, The Goldman Sachs Group set a $18.30 price objective on DAQO New Energy and gave the company a “neutral” rating in a research report on Wednesday, October 29th. One research analyst has rated the stock with a Strong Buy rating, three have given a Buy rating, two have assigned a Hold rating and one has given a Sell rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $27.04.

DAQO New Energy Trading Down 11.4%

The company has a market cap of $1.73 billion, a PE ratio of -5.05 and a beta of 0.60. The firm has a 50 day moving average of $31.70 and a two-hundred day moving average of $26.54.

DAQO New Energy (NYSE:DQ) last announced its quarterly earnings data on Monday, October 27th. The semiconductor company reported ($0.22) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.61) by $0.39. DAQO New Energy had a negative return on equity of 5.89% and a negative net margin of 53.74%.The business had revenue of $244.60 million during the quarter, compared to analysts’ expectations of $176.78 million. On average, research analysts forecast that DAQO New Energy Corp. will post -3.5 EPS for the current year.

Institutional Trading of DAQO New Energy

Several institutional investors have recently bought and sold shares of the company. Quarry LP bought a new stake in DAQO New Energy during the 3rd quarter valued at about $26,000. Boothbay Fund Management LLC grew its holdings in shares of DAQO New Energy by 1.3% during the third quarter. Boothbay Fund Management LLC now owns 97,747 shares of the semiconductor company’s stock valued at $2,750,000 after buying an additional 1,237 shares during the last quarter. Headlands Technologies LLC bought a new stake in shares of DAQO New Energy during the second quarter valued at approximately $29,000. Profund Advisors LLC raised its holdings in DAQO New Energy by 9.9% in the 3rd quarter. Profund Advisors LLC now owns 25,537 shares of the semiconductor company’s stock worth $718,000 after acquiring an additional 2,305 shares during the last quarter. Finally, Pinpoint Asset Management Singapore Pte. Ltd. raised its holdings in DAQO New Energy by 777.7% in the 3rd quarter. Pinpoint Asset Management Singapore Pte. Ltd. now owns 2,633 shares of the semiconductor company’s stock worth $74,000 after acquiring an additional 2,333 shares during the last quarter. 47.22% of the stock is owned by hedge funds and other institutional investors.

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.