Daqo New Energy (NYSE:DQ) Reaches New 12-Month Low – What’s Next?

Daqo New Energy Corp. (NYSE:DQ) shares reached a new 52-week low on Wednesday . The company traded as low as $13.30 and last traded at $13.49, with a volume of 2100189 shares trading hands. The stock had previously closed at $15.86.

Analysts Set New Price Targets

Separately, StockNews.com upgraded Daqo New Energy to a “sell” rating in a research note on Tuesday, March 18th. One analyst has rated the stock with a sell rating, one has given a hold rating, four have assigned a buy rating and three have given a strong buy rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Buy” and an average target price of $22.26.

Daqo New Energy Stock Performance

The business’s fifty day simple moving average is $19.27 and its 200-day simple moving average is $19.74. The company has a market capitalization of $890.43 million, a P/E ratio of -7.29 and a beta of 0.37.

Daqo New Energy (NYSE:DQ) last posted its earnings results on Thursday, February 27th. The semiconductor company reported ($2.71) EPS for the quarter, missing analysts’ consensus estimates of ($0.69) by ($2.02). The firm had revenue of $195.36 million during the quarter, compared to analysts’ expectations of $153.54 million. Daqo New Energy had a negative return on equity of 1.90% and a negative net margin of 9.16%. As a group, analysts forecast that Daqo New Energy Corp. will post -3.5 EPS for the current year.

Institutional Investors Weigh In On Daqo New Energy

Several large investors have recently bought and sold shares of the business. Van ECK Associates Corp raised its position in Daqo New Energy by 7.6% in the 4th quarter. Van ECK Associates Corp now owns 20,067 shares of the semiconductor company’s stock worth $390,000 after purchasing an additional 1,410 shares during the period. CoreCommodity Management LLC lifted its stake in shares of Daqo New Energy by 1.6% during the 4th quarter. CoreCommodity Management LLC now owns 134,888 shares of the semiconductor company’s stock worth $2,622,000 after acquiring an additional 2,183 shares during the last quarter. Generali Investments CEE investicni spolecnost a.s. purchased a new position in Daqo New Energy during the 4th quarter valued at $52,000. Geode Capital Management LLC grew its position in Daqo New Energy by 9.2% in the 3rd quarter. Geode Capital Management LLC now owns 33,546 shares of the semiconductor company’s stock valued at $683,000 after acquiring an additional 2,813 shares during the last quarter. Finally, Diametric Capital LP increased its stake in Daqo New Energy by 25.5% in the fourth quarter. Diametric Capital LP now owns 16,018 shares of the semiconductor company’s stock worth $311,000 after purchasing an additional 3,255 shares during the period. Institutional investors own 47.22% of the company’s stock.

Daqo New Energy Company Profile

Daqo New Energy Corp., together with its subsidiaries, manufactures and sells polysilicon to photovoltaic product manufacturers in the People's Republic of China. Its products are used in ingots, wafers, cells, and modules for solar power solutions. The company was formerly known as Mega Stand International Limited and changed its name to Daqo New Energy Corp.