DAQO New Energy (NYSE:DQ) Sets New 52-Week Low – Time to Sell?

Shares of DAQO New Energy Corp. (NYSE:DQ) reached a new 52-week low during trading on Monday . The company traded as low as $12.18 and last traded at $12.4670, with a volume of 1339539 shares trading hands. The stock had previously closed at $12.25.

Wall Street Analysts Forecast Growth

Several analysts have issued reports on the stock. Weiss Ratings cut shares of DAQO New Energy from a “sell (d-)” rating to a “sell (e+)” rating in a research note on Wednesday, June 17th. Roth Mkm set a $19.00 price target on shares of DAQO New Energy in a research report on Thursday, April 30th. Wall Street Zen downgraded DAQO New Energy from a “hold” rating to a “strong sell” rating in a research report on Saturday, May 2nd. Finally, Zacks Research raised DAQO New Energy from a “strong sell” rating to a “hold” rating in a research note on Monday, June 29th. One research analyst has rated the stock with a Strong Buy rating, one has given a Buy rating, three have issued a Hold rating and two have assigned a Sell rating to the company. According to MarketBeat.com, DAQO New Energy currently has a consensus rating of “Hold” and an average price target of $23.59.

DAQO New Energy Stock Up 0.8%

The company has a market capitalization of $836.00 million, a PE ratio of -4.44 and a beta of 0.65. The firm’s 50-day moving average is $16.68 and its 200-day moving average is $21.95.

DAQO New Energy (NYSE:DQ) last issued its quarterly 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 for the quarter, compared to the consensus estimate of $186.28 million. As a group, equities research analysts predict that DAQO New Energy Corp. will post -1.31 EPS for the current year.

Institutional Inflows and Outflows

Several large investors have recently made changes to their positions in DQ. Renaissance Technologies LLC purchased a new position in DAQO New Energy in the 1st quarter worth $3,285,000. Himension Capital Singapore PTE. LTD. purchased a new position in shares of DAQO New Energy during the first quarter valued at approximately $521,000. Bank of New York Mellon Corp increased its position in DAQO New Energy by 7.6% during the 1st quarter. Bank of New York Mellon Corp now owns 30,134 shares of the semiconductor company’s stock valued at $641,000 after purchasing an additional 2,122 shares during the period. Hsbc Holdings PLC raised its holdings in DAQO New Energy by 65.9% in the 1st quarter. Hsbc Holdings PLC now owns 35,165 shares of the semiconductor company’s stock worth $739,000 after purchasing an additional 13,970 shares in the last quarter. Finally, Leonteq Securities AG raised its holdings in DAQO New Energy by 420.2% in the 1st quarter. Leonteq Securities AG now owns 16,767 shares of the semiconductor company’s stock worth $357,000 after purchasing an additional 13,544 shares in 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.