DAQO New Energy (NYSE:DQ) Posts Earnings Results, Misses Estimates By $0.78 EPS

DAQO New Energy (NYSE:DQ) posted its quarterly earnings data on Thursday. The semiconductor company reported ($1.20) earnings per share for the quarter, missing the consensus estimate of ($0.42) by ($0.78), Zacks reports. DAQO New Energy had a negative return on equity of 3.19% and a negative net margin of 32.92%.

DAQO New Energy Trading Up 1.2%

Shares of DQ stock opened at $14.06 on Thursday. The stock has a 50 day moving average of $13.19 and a two-hundred day moving average of $18.34. DAQO New Energy has a 12 month low of $11.38 and a 12 month high of $36.59. The company has a market capitalization of $951.17 million, a P/E ratio of -5.06 and a beta of 0.66.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of DQ. Quarry LP bought a new position in DAQO New Energy in the third quarter worth $26,000. Headlands Technologies LLC bought a new stake in DAQO New Energy in the 2nd quarter valued at $29,000. EFG International AG acquired a new position in shares of DAQO New Energy in the 4th quarter valued at $112,000. Brooklyn Investment Group raised its stake in shares of DAQO New Energy by 17,302.3% in the 3rd quarter. Brooklyn Investment Group now owns 7,657 shares of the semiconductor company’s stock valued at $215,000 after buying an additional 7,613 shares in the last quarter. Finally, Vise Technologies Inc. bought a new position in shares of DAQO New Energy during the 3rd quarter worth about $225,000. 47.22% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several research analysts have commented on the company. Zacks Research downgraded DAQO New Energy from a “hold” rating to a “strong sell” rating in a research report on Friday, August 7th. Roth Capital set a $19.00 price objective on 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 research note on Tuesday, August 11th. The Goldman Sachs Group reiterated a “neutral” rating and set a $11.20 target price on shares of DAQO New Energy in a research note on Monday, July 27th. Finally, Wall Street Zen downgraded shares of DAQO New Energy from a “hold” rating to a “strong sell” rating in a report on Saturday, May 2nd. One research analyst has rated the stock with a Strong Buy rating, two have assigned a Buy rating, two have issued a Hold rating and three have given a Sell rating to the company. According to MarketBeat, DAQO New Energy presently has a consensus rating of “Hold” and an average target price of $22.35.

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.