Daqo New Energy (NYSE:DQ) Shares Gap Down – Should You Sell?

Daqo New Energy Corp. (NYSE:DQ)’s share price gapped down prior to trading on Monday . The stock had previously closed at $19.06, but opened at $18.66. Daqo New Energy shares last traded at $19.43, with a volume of 67,726 shares.

Wall Street Analysts Forecast Growth

Separately, StockNews.com upgraded shares of Daqo New Energy to a “sell” rating in a research report on Tuesday. One analyst has rated the stock with a sell rating, one has given a hold rating, four have given a buy rating and three have issued a strong buy rating to the stock. According to data from MarketBeat, Daqo New Energy has a consensus rating of “Buy” and a consensus target price of $22.26.

Daqo New Energy Trading Up 0.7 %

The company has a market capitalization of $1.30 billion, a P/E ratio of -10.67 and a beta of 0.41. The stock’s 50-day moving average price is $19.64 and its 200-day moving average price is $19.54.

Daqo New Energy (NYSE:DQ) last issued its quarterly earnings data on Thursday, February 27th. The semiconductor company reported ($2.71) earnings per share for the quarter, missing the consensus estimate of ($0.69) by ($2.02). The firm had revenue of $195.36 million during the quarter, compared to the consensus estimate of $153.54 million. Daqo New Energy had a negative net margin of 9.16% and a negative return on equity of 1.90%. Sell-side analysts expect that Daqo New Energy Corp. will post -3.5 earnings per share for the current fiscal year.

Institutional Trading of Daqo New Energy

Several hedge funds have recently bought and sold shares of the company. Point72 Asset Management L.P. lifted its position in Daqo New Energy by 67.5% in the 4th quarter. Point72 Asset Management L.P. now owns 886,655 shares of the semiconductor company’s stock valued at $17,237,000 after purchasing an additional 357,460 shares during the last quarter. Point72 Europe London LLP bought a new stake in shares of Daqo New Energy during the 4th quarter worth about $3,742,000. Point72 Hong Kong Ltd bought a new stake in shares of Daqo New Energy during the 4th quarter worth about $3,287,000. Nuveen Asset Management LLC raised its position in shares of Daqo New Energy by 16.7% during the 4th quarter. Nuveen Asset Management LLC now owns 39,200 shares of the semiconductor company’s stock worth $762,000 after buying an additional 5,600 shares in the last quarter. Finally, DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main bought a new stake in shares of Daqo New Energy during the 4th quarter worth about $3,732,000. 47.22% of the stock is currently owned by institutional investors.

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.