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 on Monday . The stock traded as low as $12.18 and last traded at $12.4670, with a volume of 1339539 shares traded. The stock had previously closed at $12.25.

Wall Street Analysts Forecast Growth

A number of brokerages recently commented on DQ. Zacks Research raised shares of DAQO New Energy from a “strong sell” rating to a “hold” rating in a research note on Monday, June 29th. Roth Capital set a $19.00 target price on 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 report on Saturday, May 2nd. Finally, Weiss Ratings raised DAQO New Energy from a “sell (e+)” rating to a “sell (d-)” rating in a research report on Monday. One equities 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 given a Sell rating to the company’s stock. According to data from MarketBeat.com, DAQO New Energy currently has an average rating of “Hold” and a consensus price target of $23.59.

DAQO New Energy Trading Down 1.8%

The stock has a 50-day moving average price of $16.25 and a two-hundred day moving average price of $21.67. The stock has a market cap of $819.08 million, a price-to-earnings ratio of -4.35 and a beta of 0.65.

DAQO New Energy (NYSE:DQ) last announced its 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 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 analyst estimates of $186.28 million. Research analysts predict that DAQO New Energy Corp. will post -1.31 earnings per share for the current fiscal year.

Institutional Trading of DAQO New Energy

A number of institutional investors have recently bought and sold shares of DQ. Millennium Management LLC raised its holdings in shares of DAQO New Energy by 1,261.0% in the first quarter. Millennium Management LLC now owns 354,596 shares of the semiconductor company’s stock worth $6,422,000 after buying an additional 328,541 shares during the last quarter. Goldman Sachs Group Inc. increased its position in shares of DAQO New Energy by 117.2% in the 1st quarter. Goldman Sachs Group Inc. now owns 1,159,835 shares of the semiconductor company’s stock valued at $21,005,000 after acquiring an additional 625,900 shares during the period. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC raised its stake in DAQO New Energy by 34.4% in the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 174,912 shares of the semiconductor company’s stock worth $3,168,000 after acquiring an additional 44,780 shares during the last quarter. Jump Financial LLC raised its stake in DAQO New Energy by 78.0% in the 2nd quarter. Jump Financial LLC now owns 212,200 shares of the semiconductor company’s stock worth $3,219,000 after acquiring an additional 92,954 shares during the last quarter. Finally, Bank of America Corp DE lifted its position in DAQO New Energy by 267.0% during the 2nd quarter. Bank of America Corp DE now owns 193,805 shares of the semiconductor company’s stock worth $2,940,000 after acquiring an additional 141,004 shares during the period. 47.22% of the stock is currently owned by institutional investors and hedge funds.

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.