DAQO New Energy (NYSE:DQ) Sets New 12-Month Low – Should You Sell?

Shares of DAQO New Energy Corp. (NYSE:DQ) reached a new 52-week low during trading on Monday . The stock traded as low as $12.52 and last traded at $12.8310, with a volume of 599268 shares. The stock had previously closed at $12.84.

Analyst Ratings Changes

Several equities research analysts have issued reports on DQ shares. Roth Mkm set a $19.00 price objective on shares of DAQO New Energy in a research report on Thursday, April 30th. Weiss Ratings lowered shares of DAQO New Energy from a “sell (d-)” rating to a “sell (e+)” rating in a research report on Wednesday, June 17th. Zacks Research downgraded shares of DAQO New Energy from a “hold” rating to a “strong sell” rating in a research note on Monday, May 4th. Finally, Wall Street Zen lowered DAQO New Energy from a “hold” rating to a “strong sell” rating in a report on Saturday, May 2nd. One analyst has rated the stock with a Strong Buy rating, one has issued a Buy rating, two have given a Hold rating and three have given a Sell rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Hold” and an average price target of $23.59.

DAQO New Energy Trading Down 2.3%

The firm has a market cap of $849.26 million, a P/E ratio of -4.52 and a beta of 0.61. The business has a 50-day moving average price of $17.59 and a 200-day moving average price of $22.68.

DAQO New Energy (NYSE:DQ) last released its quarterly earnings data on Wednesday, April 29th. The semiconductor company reported ($1.31) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.13) by ($1.18). DAQO New Energy had a negative return on equity of 3.19% and a negative net margin of 32.92%.The business had revenue of $26.72 million during the quarter, compared to analysts’ expectations of $186.28 million. On average, equities analysts anticipate that DAQO New Energy Corp. will post -1.31 earnings per share for the current fiscal year.

Hedge Funds Weigh In On DAQO New Energy

A number of large investors have recently bought and sold shares of DQ. Renaissance Technologies LLC purchased a new stake in DAQO New Energy during the first quarter worth $3,285,000. Himension Capital Singapore PTE. LTD. purchased a new position in shares of DAQO New Energy in the 1st quarter valued at $521,000. Bank of New York Mellon Corp increased its holdings in shares of DAQO New Energy by 7.6% in the 1st quarter. Bank of New York Mellon Corp now owns 30,134 shares of the semiconductor company’s stock valued at $641,000 after acquiring an additional 2,122 shares during the period. Hsbc Holdings PLC raised its position in shares of DAQO New Energy by 65.9% in the 1st quarter. Hsbc Holdings PLC now owns 35,165 shares of the semiconductor company’s stock worth $739,000 after acquiring an additional 13,970 shares in the last quarter. Finally, Leonteq Securities AG raised its position in shares of DAQO New Energy by 420.2% in the 1st quarter. Leonteq Securities AG now owns 16,767 shares of the semiconductor company’s stock worth $357,000 after acquiring an additional 13,544 shares in the last quarter. 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.