DAQO New Energy (NYSE:DQ) Stock Price Down 5.5% – Should You Sell?

DAQO New Energy Corp. (NYSE:DQ)’s share price traded down 5.5% on Monday . The company traded as low as $15.51 and last traded at $15.4220. 258,548 shares changed hands during mid-day trading, a decline of 67% from the average session volume of 772,317 shares. The stock had previously closed at $16.32.

Wall Street Analysts Forecast Growth

A number of research analysts recently issued reports on DQ shares. Zacks Research lowered shares of DAQO New Energy from a “hold” rating to a “strong sell” rating in a research note on Monday, May 4th. Roth Mkm set a $19.00 target price on shares of DAQO New Energy in a research report on Thursday, April 30th. Weiss Ratings upgraded shares of DAQO New Energy from a “sell (e+)” rating to a “sell (d-)” rating in a report on Wednesday, May 27th. Finally, Wall Street Zen downgraded DAQO New Energy from a “hold” rating to a “strong sell” rating in a research report on Saturday, May 2nd. One equities research analyst has rated the stock with a Strong Buy rating, one has issued a Buy rating, two have assigned a Hold rating and three have given a Sell rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus target price of $23.59.

DAQO New Energy Price Performance

The company has a market capitalization of $974.92 million, a price-to-earnings ratio of -5.18 and a beta of 0.61. The business has a fifty day moving average price of $19.38 and a 200 day moving average price of $24.23.

DAQO New Energy (NYSE:DQ) last announced its earnings results on Wednesday, April 29th. The semiconductor company reported ($1.31) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.13) by ($1.18). The company had revenue of $26.72 million for the quarter, compared to the consensus estimate of $186.28 million. DAQO New Energy had a negative return on equity of 3.19% and a negative net margin of 32.92%. As a group, sell-side analysts predict that DAQO New Energy Corp. will post -1.31 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

A number of large investors have recently made changes to their positions in the stock. Millennium Management LLC grew its position in DAQO New Energy by 1,261.0% during the first quarter. Millennium Management LLC now owns 354,596 shares of the semiconductor company’s stock worth $6,422,000 after buying an additional 328,541 shares in the last quarter. Goldman Sachs Group Inc. lifted its position in shares of DAQO New Energy by 117.2% in the 1st quarter. Goldman Sachs Group Inc. now owns 1,159,835 shares of the semiconductor company’s stock worth $21,005,000 after acquiring an additional 625,900 shares during the period. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC lifted its position in shares of DAQO New Energy by 34.4% in the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 174,912 shares of the semiconductor company’s stock worth $3,168,000 after acquiring an additional 44,780 shares during the period. Jump Financial LLC grew its holdings in shares of DAQO New Energy by 78.0% during the 2nd quarter. Jump Financial LLC now owns 212,200 shares of the semiconductor company’s stock worth $3,219,000 after purchasing an additional 92,954 shares in the last quarter. Finally, Bank of America Corp DE grew its holdings in shares of DAQO New Energy by 267.0% during the 2nd quarter. Bank of America Corp DE now owns 193,805 shares of the semiconductor company’s stock worth $2,940,000 after purchasing an additional 141,004 shares in the last quarter. Institutional investors and hedge funds 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.