DAQO New Energy (NYSE:DQ) Trading Down 6.6% – Time to Sell?

DAQO New Energy Corp. (NYSE:DQ)’s share price traded down 6.6% during mid-day trading on Wednesday . The company traded as low as $22.00 and last traded at $21.8990. 279,865 shares traded hands during mid-day trading, a decline of 61% from the average session volume of 726,331 shares. The stock had previously closed at $23.44.

Wall Street Analyst Weigh In

A number of research firms have recently weighed in on DQ. New Street Research set a $18.13 target price on shares of DAQO New Energy in a report on Tuesday, February 3rd. Glj Research lowered DAQO New Energy from a “buy” rating to a “sell” rating and cut their price objective for the stock from $30.51 to $18.13 in a research report on Tuesday, February 3rd. Finally, Weiss Ratings restated a “sell (d-)” rating on shares of DAQO New Energy in a report on Monday, December 29th. One research analyst has rated the stock with a Strong Buy rating, one has given a Buy rating, two have assigned a Hold rating and two have assigned a Sell rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus target price of $25.43.

DAQO New Energy Price Performance

The stock’s 50 day moving average is $24.65 and its 200-day moving average is $27.92. The company has a market capitalization of $1.47 billion, a P/E ratio of -8.65 and a beta of 0.68.

DAQO New Energy (NYSE:DQ) last posted its earnings results on Thursday, February 26th. The semiconductor company reported ($0.11) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.04) by ($0.07). The firm had revenue of $221.71 million for the quarter, compared to analysts’ expectations of $276.94 million. DAQO New Energy had a negative return on equity of 2.92% and a negative net margin of 25.62%. On average, equities research analysts anticipate that DAQO New Energy Corp. will post -3.5 EPS for the current year.

Institutional Trading of DAQO New Energy

A number of hedge funds have recently modified their holdings of the business. Caitong International Asset Management Co. Ltd purchased a new stake in shares of DAQO New Energy in the 4th quarter worth about $49,000. MidFirst Bank bought a new stake in DAQO New Energy during the fourth quarter worth about $236,000. Compound Planning Inc. boosted its stake in DAQO New Energy by 19.2% during the fourth quarter. Compound Planning Inc. now owns 19,518 shares of the semiconductor company’s stock worth $576,000 after acquiring an additional 3,146 shares in the last quarter. Invesco Ltd. grew its holdings in DAQO New Energy by 22.6% in the fourth quarter. Invesco Ltd. now owns 1,429,565 shares of the semiconductor company’s stock worth $42,172,000 after purchasing an additional 263,614 shares during the period. Finally, Vident Advisory LLC bought a new position in shares of DAQO New Energy during the fourth quarter valued at approximately $349,000. Institutional investors own 47.22% of the company’s stock.

About DAQO New Energy

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.