Daqo New Energy (NYSE:DQ) Stock Price Down 4.7% – Should You Sell?

Shares of Daqo New Energy Corp. (NYSE:DQ) traded down 4.7% on Tuesday . The company traded as low as $15.23 and last traded at $15.12. 152,519 shares were traded during trading, a decline of 85% from the average session volume of 1,028,444 shares. The stock had previously closed at $15.86.

Analysts Set New Price Targets

Separately, StockNews.com upgraded shares of Daqo New Energy to a “sell” rating in a research note on Tuesday, March 18th. One equities research 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 company. According to MarketBeat, Daqo New Energy presently has a consensus rating of “Buy” and a consensus target price of $22.26.

Daqo New Energy Trading Down 11.9 %

The business has a fifty day moving average price of $19.45 and a 200-day moving average price of $19.80. The stock has a market capitalization of $922.45 million, a PE ratio of -7.55 and a beta of 0.37.

Daqo New Energy (NYSE:DQ) last announced its quarterly earnings data 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). The business had revenue of $195.36 million during the quarter, compared to analysts’ expectations of $153.54 million. Daqo New Energy had a negative net margin of 9.16% and a negative return on equity of 1.90%. On average, equities 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

A number of hedge funds and other institutional investors have recently modified their holdings of the stock. Greenwoods Asset Management Hong Kong Ltd. boosted its stake in shares of Daqo New Energy by 5,286.6% during the fourth quarter. Greenwoods Asset Management Hong Kong Ltd. now owns 2,714,780 shares of the semiconductor company’s stock valued at $52,775,000 after purchasing an additional 2,664,381 shares during the period. Prudential PLC bought a new stake in Daqo New Energy in the 4th quarter worth $14,775,000. Point72 Asset Management L.P. increased its position in shares of Daqo New Energy by 67.5% in the fourth quarter. Point72 Asset Management L.P. now owns 886,655 shares of the semiconductor company’s stock valued at $17,237,000 after acquiring an additional 357,460 shares during the period. Ariose Capital Management Ltd raised its stake in shares of Daqo New Energy by 27.5% during the fourth quarter. Ariose Capital Management Ltd now owns 1,505,709 shares of the semiconductor company’s stock valued at $29,271,000 after acquiring an additional 324,585 shares during the last quarter. Finally, Continental General Insurance Co. boosted its holdings in shares of Daqo New Energy by 5.8% during the fourth quarter. Continental General Insurance Co. now owns 5,916,202 shares of the semiconductor company’s stock worth $115,011,000 after purchasing an additional 322,084 shares during the period. Institutional investors own 47.22% of the company’s stock.

About Daqo New Energy

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.