DAQO New Energy (NYSE:DQ) Trading Down 5.5% – What’s Next?

Shares of DAQO New Energy Corp. (NYSE:DQ) traded down 5.5% during mid-day trading on Monday . The stock traded as low as $15.51 and last traded at $15.4220. 258,548 shares were traded during trading, a decline of 67% from the average session volume of 772,317 shares. The stock had previously closed at $16.32.

Analyst Upgrades and Downgrades

A number of brokerages recently weighed in on DQ. Wall Street Zen lowered shares of DAQO New Energy from a “hold” rating to a “strong sell” rating in a report on Saturday, May 2nd. Weiss Ratings upgraded shares of DAQO New Energy from a “sell (e+)” rating to a “sell (d-)” rating in a report on Wednesday, May 27th. Roth Mkm set a $19.00 price objective on shares of DAQO New Energy in a report on Thursday, April 30th. Finally, Zacks Research lowered shares of DAQO New Energy from a “hold” rating to a “strong sell” rating in a report on Monday, May 4th. One investment analyst has rated the stock with a Strong Buy rating, one has assigned a Buy rating, two have given a Hold rating and three have given a Sell rating to the stock. Based on data from MarketBeat, DAQO New Energy currently has an average rating of “Hold” and a consensus target price of $23.59.

DAQO New Energy Trading Down 6.9%

The firm has a market capitalization of $1.03 billion, a PE ratio of -5.47 and a beta of 0.61. The business’s 50 day simple moving average is $19.63 and its two-hundred day simple moving average is $24.47.

DAQO New Energy (NYSE:DQ) last issued its quarterly earnings data 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). DAQO New Energy had a negative net margin of 32.92% and a negative return on equity of 3.19%. The business had revenue of $26.72 million for the quarter, compared to the consensus estimate of $186.28 million. As a group, equities research analysts anticipate that DAQO New Energy Corp. will post -1.31 earnings per share for the current year.

Institutional Inflows and Outflows

Several institutional investors have recently made changes to their positions in DQ. Allianz Asset Management GmbH purchased a new stake in DAQO New Energy in the 3rd quarter worth $11,673,000. Ariose Capital Management Ltd increased its stake in DAQO New Energy by 35.0% in the 4th quarter. Ariose Capital Management Ltd now owns 457,155 shares of the semiconductor company’s stock worth $13,486,000 after buying an additional 118,500 shares in the last quarter. Harvest Fund Management Co. Ltd purchased a new stake in DAQO New Energy in the 3rd quarter worth $7,096,000. Polunin Capital Partners Ltd boosted its holdings in shares of DAQO New Energy by 13.6% during the 4th quarter. Polunin Capital Partners Ltd now owns 1,458,705 shares of the semiconductor company’s stock valued at $43,032,000 after purchasing an additional 174,747 shares during the last quarter. Finally, JPMorgan Chase & Co. boosted its holdings in shares of DAQO New Energy by 165.4% during the 3rd quarter. JPMorgan Chase & Co. now owns 96,270 shares of the semiconductor company’s stock valued at $2,708,000 after purchasing an additional 60,002 shares during the last quarter. 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.