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

Shares of DAQO New Energy Corp. (NYSE:DQ) reached a new 52-week low during trading on Tuesday . The stock traded as low as $13.62 and last traded at $13.6150, with a volume of 435 shares trading hands. The stock had previously closed at $13.90.

Wall Street Analysts Forecast Growth

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

DAQO New Energy Stock Down 2.8%

The business has a 50 day simple moving average of $18.24 and a two-hundred day simple moving average of $23.21. The firm has a market cap of $913.88 million, a PE ratio of -4.87 and a beta of 0.61.

DAQO New Energy (NYSE:DQ) last released 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 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%. Equities analysts forecast that DAQO New Energy Corp. will post -1.31 earnings per share for the current year.

Institutional Investors Weigh In On DAQO New Energy

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Banque Cantonale Vaudoise boosted its position in DAQO New Energy by 37.5% in the 1st quarter. Banque Cantonale Vaudoise now owns 2,579 shares of the semiconductor company’s stock valued at $55,000 after buying an additional 703 shares during the period. Vontobel Holding Ltd. increased its position in shares of DAQO New Energy by 1.5% during the fourth quarter. Vontobel Holding Ltd. now owns 57,176 shares of the semiconductor company’s stock worth $1,687,000 after acquiring an additional 836 shares during the period. Quarry LP bought a new stake in shares of DAQO New Energy during the third quarter valued at approximately $26,000. Boothbay Fund Management LLC raised its stake in shares of DAQO New Energy by 1.3% during the third quarter. Boothbay Fund Management LLC now owns 97,747 shares of the semiconductor company’s stock valued at $2,750,000 after acquiring an additional 1,237 shares in the last quarter. Finally, Farther Finance Advisors LLC boosted its holdings in shares of DAQO New Energy by 1,650.0% in the fourth 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 during the period. 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.