Daqo New Energy (NYSE:DQ) Shares Gap Down – Here’s What Happened

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 traded.

Wall Street Analyst Weigh In

Separately, StockNews.com upgraded Daqo New Energy to a “sell” rating in a report on Monday, March 3rd. One investment analyst has rated the stock with a sell rating, one has assigned a hold rating, four have given a buy rating and three have issued a strong buy rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Buy” and an average price target of $22.26.

Daqo New Energy Stock Up 4.7 %

The firm has a market cap of $1.32 billion, a price-to-earnings ratio of -10.76 and a beta of 0.41. The business has a 50 day moving average price of $19.71 and a 200-day moving average price of $19.47.

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

Institutional Investors Weigh In On Daqo New Energy

Hedge funds have recently bought and sold shares of the business. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its holdings in Daqo New Energy by 32.2% during the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 135,732 shares of the semiconductor company’s stock worth $2,765,000 after buying an additional 33,031 shares during the last quarter. Public Employees Retirement System of Ohio bought a new position in Daqo New Energy during the 3rd quarter worth approximately $1,053,000. Ariose Capital Management Ltd lifted its holdings in Daqo New Energy by 27.5% during the 4th quarter. Ariose Capital Management Ltd now owns 1,505,709 shares of the semiconductor company’s stock worth $29,271,000 after buying an additional 324,585 shares during the last quarter. BNP Paribas Financial Markets lifted its holdings in Daqo New Energy by 57.5% during the 3rd quarter. BNP Paribas Financial Markets now owns 74,571 shares of the semiconductor company’s stock worth $1,519,000 after buying an additional 27,223 shares during the last quarter. Finally, Geode Capital Management LLC lifted its holdings in Daqo New Energy by 9.2% during the 3rd quarter. Geode Capital Management LLC now owns 33,546 shares of the semiconductor company’s stock worth $683,000 after buying an additional 2,813 shares during the last quarter. Institutional investors and hedge funds 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.