DAQO New Energy (NYSE:DQ) Shares Gap Down – Time to Sell?

DAQO New Energy Corp. (NYSE:DQ)’s stock price gapped down before the market opened on Wednesday . The stock had previously closed at $21.95, but opened at $17.99. DAQO New Energy shares last traded at $19.1290, with a volume of 542,730 shares trading hands.

Analysts Set New Price Targets

Several equities analysts have recently commented on DQ shares. New Street Research set a $18.13 target price on DAQO New Energy in a report on Tuesday, February 3rd. Weiss Ratings reissued a “sell (d-)” rating on shares of DAQO New Energy in a report on Friday, March 27th. Finally, Glj Research downgraded shares of DAQO New Energy from a “buy” rating to a “sell” rating and reduced their price target for the company from $30.51 to $18.13 in a report on Tuesday, February 3rd. One analyst has rated the stock with a Strong Buy rating, one has issued a Buy rating, two have given a Hold rating and two have assigned a Sell rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average target price of $25.43.

DAQO New Energy Price Performance

The company has a market cap of $1.30 billion, a price-to-earnings ratio of -7.59 and a beta of 0.80. The firm’s fifty day moving average price is $22.34 and its 200-day moving average price is $26.67.

DAQO New Energy (NYSE:DQ) last announced its quarterly earnings results on Monday, March 2nd. The semiconductor company reported ($0.11) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.04) by ($0.07). DAQO New Energy had a negative net margin of 25.62% and a negative return on equity of 2.92%. The firm had revenue of $221.71 million for the quarter, compared to analyst estimates of $276.94 million. As a group, equities analysts forecast that DAQO New Energy Corp. will post -0.38 earnings per share for the current fiscal year.

Institutional Investors Weigh In On DAQO New Energy

Institutional investors have recently bought and sold shares of the stock. Quarry LP acquired a new stake in DAQO New Energy in the third quarter worth about $26,000. Headlands Technologies LLC bought a new position in DAQO New Energy during the 2nd quarter valued at $29,000. Farther Finance Advisors LLC boosted its stake in DAQO New Energy by 1,650.0% during the 4th quarter. Farther Finance Advisors LLC now owns 1,330 shares of the semiconductor company’s stock valued at $39,000 after purchasing an additional 1,254 shares in the last quarter. Caitong International Asset Management Co. Ltd bought a new position in DAQO New Energy during the 4th quarter valued at $49,000. Finally, Banque Cantonale Vaudoise bought a new position in DAQO New Energy during the 4th quarter valued at $55,000. Institutional investors and hedge funds own 47.22% of the company’s stock.

DAQO New Energy Company Profile

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.