Daqo New Energy (NYSE:DQ) Reaches New 12-Month Low – What’s Next?

Daqo New Energy Corp. (NYSE:DQ) shares reached a new 52-week low on Wednesday . The company traded as low as $13.30 and last traded at $13.49, with a volume of 2100189 shares trading hands. The stock had previously closed at $15.86.

Analyst Ratings Changes

Separately, StockNews.com raised Daqo New Energy to a “sell” rating in a report on Tuesday, March 18th. One research analyst has rated the stock with a sell rating, one has assigned a hold rating, four have given a buy rating and three have given a strong buy rating to the stock. According to MarketBeat, the stock has a consensus rating of “Buy” and a consensus target price of $22.26.

Daqo New Energy Stock Down 6.4 %

The firm has a market cap of $899.35 million, a P/E ratio of -7.36 and a beta of 0.37. The company’s 50 day simple moving average is $19.06 and its 200-day simple moving average is $19.66.

Daqo New Energy (NYSE:DQ) last announced its quarterly earnings data on Thursday, February 27th. The semiconductor company reported ($2.71) EPS for the quarter, missing the consensus estimate of ($0.69) by ($2.02). The business 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%. Equities research analysts predict that Daqo New Energy Corp. will post -3.5 EPS for the current year.

Institutional Trading of Daqo New Energy

A number of large investors have recently modified their holdings of the company. Greenwoods Asset Management Hong Kong Ltd. raised its position in Daqo New Energy by 5,286.6% during the 4th 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 in the last quarter. Prudential PLC purchased a new stake in Daqo New Energy in the fourth quarter worth about $14,775,000. Point72 Asset Management L.P. grew its holdings in Daqo New Energy by 67.5% during the 4th quarter. Point72 Asset Management L.P. now owns 886,655 shares of the semiconductor company’s stock worth $17,237,000 after acquiring an additional 357,460 shares in the last quarter. Ariose Capital Management Ltd increased its position 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 valued at $29,271,000 after purchasing an additional 324,585 shares during the period. Finally, Continental General Insurance Co. lifted its position in shares of Daqo New Energy by 5.8% in the 4th 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. Hedge funds and other institutional investors 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.