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

Daqo New Energy Corp. (NYSE:DQ) shares gapped down before the market opened on Thursday . The stock had previously closed at $20.12, but opened at $19.33. Daqo New Energy shares last traded at $19.34, with a volume of 69,216 shares.

Analyst Upgrades and Downgrades

Several analysts have recently issued reports on DQ shares. Daiwa Capital Markets upgraded shares of Daqo New Energy from a “neutral” rating to an “outperform” rating in a research note on Wednesday, October 30th. Nomura Securities upgraded shares of Daqo New Energy to a “strong-buy” rating in a research note on Wednesday, August 28th. StockNews.com upgraded shares of Daqo New Energy to a “sell” rating in a research note on Monday, September 23rd. Roth Mkm reduced their price target on shares of Daqo New Energy from $23.00 to $15.00 and set a “neutral” rating for the company in a research report on Wednesday, August 28th. Finally, HSBC upgraded shares of Daqo New Energy from a “hold” rating to a “buy” rating in a research report on Wednesday, October 2nd. One research analyst has rated the stock with a sell rating, one has given a hold rating, four have issued a buy rating and three have issued a strong buy rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Buy” and a consensus target price of $22.26.

Daqo New Energy Trading Down 3.0 %

The firm has a fifty day moving average of $20.36 and a 200 day moving average of $18.41.

Daqo New Energy (NYSE:DQ) last announced its quarterly earnings results on Wednesday, October 30th. The semiconductor company reported ($0.92) EPS for the quarter, missing the consensus estimate of ($0.80) by ($0.12). The business had revenue of $198.50 million during the quarter, compared to analyst estimates of $186.90 million. Daqo New Energy had a negative net margin of 9.16% and a negative return on equity of 1.90%. During the same period last year, the company earned ($0.09) EPS. Analysts predict that Daqo New Energy Corp. will post -3.5 EPS for the current year.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of the business. Blue Trust Inc. lifted its position in shares of Daqo New Energy by 12,187.5% during the 2nd quarter. Blue Trust Inc. now owns 1,966 shares of the semiconductor company’s stock valued at $29,000 after acquiring an additional 1,950 shares during the last quarter. Signaturefd LLC lifted its stake in shares of Daqo New Energy by 27.3% in the third quarter. Signaturefd LLC now owns 2,809 shares of the semiconductor company’s stock valued at $57,000 after buying an additional 602 shares during the period. AXA S.A. lifted its stake in shares of Daqo New Energy by 202.3% in the second quarter. AXA S.A. now owns 6,387 shares of the semiconductor company’s stock valued at $93,000 after buying an additional 4,274 shares during the period. Rhumbline Advisers lifted its stake in shares of Daqo New Energy by 22.2% in the second quarter. Rhumbline Advisers now owns 8,104 shares of the semiconductor company’s stock valued at $118,000 after buying an additional 1,470 shares during the period. Finally, Harel Insurance Investments & Financial Services Ltd. lifted its stake in Daqo New Energy by 37.9% during the second quarter. Harel Insurance Investments & Financial Services Ltd. now owns 14,442 shares of the semiconductor company’s stock worth $211,000 after purchasing an additional 3,970 shares during the period. 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.