DAQO New Energy (NYSE:DQ) Sets New 52-Week Low – Time to Sell?

DAQO New Energy Corp. (NYSE:DQ)’s share price reached a new 52-week low during trading on Monday . The stock traded as low as $12.18 and last traded at $12.4670, with a volume of 1339539 shares. The stock had previously closed at $12.25.

Analysts Set New Price Targets

DQ has been the subject of several recent analyst reports. Weiss Ratings lowered DAQO New Energy from a “sell (d-)” rating to a “sell (e+)” rating in a report on Wednesday, June 17th. Wall Street Zen cut DAQO New Energy from a “hold” rating to a “strong sell” rating in a research report on Saturday, May 2nd. Roth Mkm set a $19.00 price objective on DAQO New Energy in a research note on Thursday, April 30th. Finally, Zacks Research upgraded DAQO New Energy from a “strong sell” rating to a “hold” rating in a research note on Monday, June 29th. One research analyst has rated the stock with a Strong Buy rating, one has assigned a Buy rating, three have issued a Hold rating and two have given a Sell rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus price target of $23.59.

DAQO New Energy Price Performance

The firm has a market capitalization of $836.00 million, a PE ratio of -4.44 and a beta of 0.65. The company’s fifty day simple moving average is $16.68 and its 200 day simple moving average is $21.95.

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

Institutional Investors Weigh In On DAQO New Energy

Institutional investors have recently made changes to their positions in the stock. Renaissance Technologies LLC purchased a new position in shares of DAQO New Energy in the first quarter valued at $3,285,000. Himension Capital Singapore PTE. LTD. purchased a new stake in DAQO New Energy during the 1st quarter worth about $521,000. Bank of New York Mellon Corp lifted its holdings in DAQO New Energy by 7.6% during the 1st quarter. Bank of New York Mellon Corp now owns 30,134 shares of the semiconductor company’s stock worth $641,000 after purchasing an additional 2,122 shares in the last quarter. Hsbc Holdings PLC boosted its stake in 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 purchasing an additional 13,970 shares during the period. Finally, Leonteq Securities AG boosted its stake in 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 purchasing an additional 13,544 shares during the period. Hedge funds and other 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.