DAQO New Energy (NYSE:DQ) Hits New 1-Year Low – Time to Sell?

DAQO New Energy Corp. (NYSE:DQ) shares hit a new 52-week low during mid-day trading on Monday . The company traded as low as $11.64 and last traded at $11.6470, with a volume of 512927 shares changing hands. The stock had previously closed at $12.40.

Analyst Ratings Changes

A number of research analysts recently commented on the company. Weiss Ratings upgraded DAQO New Energy from a “sell (e+)” rating to a “sell (d-)” rating in a research report on Monday, July 6th. Roth Capital set a $19.00 target price on shares of DAQO New Energy in a report on Thursday, April 30th. Wall Street Zen cut DAQO New Energy from a “hold” rating to a “strong sell” rating in a research note on Saturday, May 2nd. Finally, Zacks Research upgraded shares of DAQO New Energy from a “strong sell” rating to a “hold” rating in a research note on Monday, June 29th. One investment 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, the stock currently has a consensus rating of “Hold” and an average target price of $23.59.

DAQO New Energy Stock Up 2.4%

The company’s fifty day moving average is $15.41 and its two-hundred day moving average is $20.96. The stock has a market cap of $806.22 million, a price-to-earnings ratio of -4.29 and a beta of 0.65.

DAQO New Energy (NYSE:DQ) last posted its quarterly earnings results on Wednesday, April 29th. The semiconductor company reported ($1.31) 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 analyst estimates of $186.28 million. Sell-side analysts predict that DAQO New Energy Corp. will post -1.31 EPS for the current fiscal year.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in the business. Banque Cantonale Vaudoise grew its position in DAQO New Energy by 37.5% during the 1st quarter. Banque Cantonale Vaudoise now owns 2,579 shares of the semiconductor company’s stock worth $55,000 after purchasing an additional 703 shares during the last quarter. Vontobel Holding Ltd. raised its position in DAQO New Energy by 1.5% during the 4th quarter. Vontobel Holding Ltd. now owns 57,176 shares of the semiconductor company’s stock worth $1,687,000 after buying an additional 836 shares during the last quarter. Quarry LP purchased a new position in DAQO New Energy during the third quarter worth about $26,000. Boothbay Fund Management LLC increased its position in DAQO New Energy by 1.3% during the 3rd quarter. Boothbay Fund Management LLC now owns 97,747 shares of the semiconductor company’s stock worth $2,750,000 after purchasing an additional 1,237 shares during the period. Finally, Farther Finance Advisors LLC boosted its stake in shares of DAQO New Energy by 1,650.0% in the fourth quarter. Farther Finance Advisors LLC now owns 1,330 shares of the semiconductor company’s stock valued at $39,000 after buying an additional 1,254 shares in the last quarter. 47.22% of the stock is owned by institutional investors and hedge funds.

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.