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

DAQO New Energy Corp. (NYSE:DQ)’s stock price reached a new 52-week low during mid-day 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 Ratings Changes

DQ has been the topic of several research analyst reports. Zacks Research cut shares of DAQO New Energy from a “hold” rating to a “strong sell” rating in a research report on Monday, May 4th. Weiss Ratings lowered 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 objective on shares of DAQO New Energy in a report on Thursday, April 30th. Finally, Wall Street Zen lowered shares of DAQO New Energy from a “hold” rating to a “strong sell” rating in a research report on Saturday, May 2nd. One 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 issued a Sell rating to the company. Based on data from MarketBeat.com, DAQO New Energy currently has an average rating of “Hold” and an average price target of $23.59.

DAQO New Energy Stock Up 2.7%

The business’s 50-day simple moving average is $17.26 and its 200 day simple moving average is $22.38. The firm has a market capitalization of $906.51 million, a P/E ratio of -4.82 and a beta of 0.61.

DAQO New Energy (NYSE:DQ) last announced its quarterly earnings data on Wednesday, April 29th. The semiconductor company reported ($1.31) earnings per share for the quarter, missing analysts’ consensus estimates 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 business had revenue of $26.72 million during the quarter, compared to the consensus estimate of $186.28 million. Sell-side analysts predict that DAQO New Energy Corp. will post -1.31 earnings per share for the current year.

Institutional Trading of DAQO New Energy

Hedge funds have recently added to or reduced their stakes in the business. Continental General Insurance Co. grew its stake in shares of DAQO New Energy by 11.3% during the third quarter. Continental General Insurance Co. now owns 6,641,986 shares of the semiconductor company’s stock valued at $186,839,000 after buying an additional 675,784 shares during the last quarter. Arrowstreet Capital Limited Partnership bought a new stake in shares of DAQO New Energy in the 3rd quarter valued at about $18,280,000. Goldman Sachs Group Inc. boosted its holdings in DAQO New Energy by 117.2% during the 1st quarter. Goldman Sachs Group Inc. now owns 1,159,835 shares of the semiconductor company’s stock valued at $21,005,000 after acquiring an additional 625,900 shares during the period. Marshall Wace LLP purchased a new stake in DAQO New Energy during the 4th quarter valued at about $16,742,000. Finally, Wolf Hill Capital Management LP bought a new position in DAQO New Energy during the 3rd quarter worth approximately $11,623,000. 47.22% of the stock is owned by institutional investors.

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.