DAQO New Energy Corp. (NYSE:DQ – Get Free Report)’s stock price hit a new 52-week low during trading on Monday . The company traded as low as $11.38 and last traded at $11.4860, with a volume of 30916 shares changing hands. The stock had previously closed at $11.54.
Wall Street Analyst Weigh In
DQ has been the topic of a number of recent research reports. New Street Research set a $10.00 target price on DAQO New Energy in a report on Monday, August 24th. Weiss Ratings downgraded DAQO New Energy from a “sell (d-)” rating to a “sell (e+)” rating in a report on Friday, August 28th. JPMorgan Chase & Co. decreased their price target on DAQO New Energy from $35.50 to $22.00 and set an “overweight” rating for the company in a research report on Friday, July 31st. The Goldman Sachs Group cut DAQO New Energy from a “neutral” rating to a “sell” rating and set a $10.00 price target on the stock. in a research note on Monday, August 24th. Finally, Zacks Research downgraded DAQO New Energy from a “hold” rating to a “strong sell” rating in a report on Friday, August 7th. One equities research analyst has rated the stock with a Buy rating, one has assigned a Hold rating and four have issued a Sell rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Reduce” and an average target price of $15.83.
View Our Latest Stock Analysis on DAQO New Energy
DAQO New Energy Stock Performance
DAQO New Energy (NYSE:DQ – Get Free Report) last released its earnings results on Thursday, August 20th. The semiconductor company reported ($1.20) earnings per share for the quarter, missing the consensus estimate of ($0.57) by ($0.63). DAQO New Energy had a negative net margin of 34.50% and a negative return on equity of 3.26%. The business had revenue of $62.66 million for the quarter, compared to analysts’ expectations of $52.93 million. On average, sell-side analysts predict that DAQO New Energy Corp. will post -1.96 earnings per share for the current year.
Institutional Trading of DAQO New Energy
Institutional investors have recently made changes to their positions in the stock. Banque Cantonale Vaudoise lifted its holdings in shares of DAQO New Energy by 37.5% during the 1st quarter. Banque Cantonale Vaudoise now owns 2,579 shares of the semiconductor company’s stock worth $55,000 after acquiring an additional 703 shares during the period. Vontobel Holding Ltd. increased its stake in DAQO New Energy by 1.5% in the fourth quarter. Vontobel Holding Ltd. now owns 57,176 shares of the semiconductor company’s stock valued at $1,687,000 after acquiring an additional 836 shares during the period. Quarry LP bought a new stake in DAQO New Energy in the third quarter valued at about $26,000. Caitong International Asset Management Co. Ltd acquired a new position in DAQO New Energy in the fourth quarter worth about $49,000. Finally, Headlands Technologies LLC bought a new position in DAQO New Energy during the second quarter worth about $29,000. 47.22% of the stock is currently owned by institutional investors and hedge funds.
DAQO New Energy Company Profile
DAQO New Energy Corp. (NYSE: DQ) is a China-based manufacturer of high-purity polysilicon, a key raw material used to produce the wafers, cells and modules that make up solar photovoltaic panels. The company supplies polysilicon primarily to manufacturers in the global solar power industry.
Through its operating subsidiary, Xinjiang Daqo New Energy Co, Ltd., the company produces polysilicon at manufacturing facilities in China. Its products include polysilicon used in both monocrystalline and multicrystalline solar applications, with product specifications designed for use in advanced photovoltaic manufacturing.
Daqo New Energy was established in 2008 and began commercial polysilicon production in 2009.
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