Daqo New Energy (NYSE:DQ) Reaches New 12-Month Low at $14.43

Daqo New Energy Corp. (NYSE:DQ) hit a new 52-week low during trading on Monday . The company traded as low as $14.43 and last traded at $14.43, with a volume of 54954 shares trading hands. The stock had previously closed at $14.60.

Analyst Ratings Changes

A number of equities analysts have issued reports on DQ shares. Roth Mkm restated a “neutral” rating and set a $23.00 target price on shares of Daqo New Energy in a research report on Tuesday, April 30th. HSBC restated a “reduce” rating and set a $17.50 price objective (down previously from $23.50) on shares of Daqo New Energy in a report on Monday, May 6th. Finally, Daiwa Capital Markets reiterated an “underperform” rating and set a $25.00 price objective on shares of Daqo New Energy in a report on Friday, March 15th. Two equities research analysts have rated the stock with a sell rating, two have issued a hold rating and one has assigned a buy rating to the stock. According to MarketBeat, Daqo New Energy currently has a consensus rating of “Hold” and a consensus price target of $27.63.

Daqo New Energy Stock Down 1.9 %

The stock has a fifty day moving average of $19.77 and a two-hundred day moving average of $21.99. The stock has a market cap of $945.26 million, a price-to-earnings ratio of 6.85 and a beta of 0.28.

Daqo New Energy (NYSE:DQ) last issued its earnings results on Monday, April 29th. The semiconductor company reported $0.24 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.56 by ($0.32). Daqo New Energy had a return on equity of 2.46% and a net margin of 7.84%. The firm had revenue of $415.31 million for the quarter, compared to analysts’ expectations of $491.90 million. During the same quarter in the previous year, the firm posted $3.52 EPS. Equities research analysts anticipate that Daqo New Energy Corp. will post 0.98 EPS for the current fiscal year.

Institutional Trading of Daqo New Energy

Several large investors have recently added to or reduced their stakes in DQ. Sylebra Capital LLC acquired a new position in shares of Daqo New Energy during the first quarter worth $13,025,000. FengHe Fund Management Pte. Ltd. acquired a new position in Daqo New Energy in the 4th quarter worth $11,480,000. BNP Paribas Financial Markets boosted its position in Daqo New Energy by 142.1% in the 1st quarter. BNP Paribas Financial Markets now owns 696,865 shares of the semiconductor company’s stock valued at $19,617,000 after buying an additional 409,057 shares during the last quarter. Mackenzie Financial Corp grew its stake in shares of Daqo New Energy by 23.8% during the fourth quarter. Mackenzie Financial Corp now owns 1,794,353 shares of the semiconductor company’s stock valued at $47,730,000 after acquiring an additional 344,616 shares in the last quarter. Finally, Jupiter Asset Management Ltd. purchased a new stake in shares of Daqo New Energy during the first quarter worth about $9,647,000. 47.22% of the stock is currently owned by institutional investors and hedge funds.

Daqo New Energy Company Profile

Daqo New Energy Corp., together with its subsidiaries, manufactures and sells polysilicon to photovoltaic product manufacturers in the People's Republic of China. Its products are used in ingots, wafers, cells, and modules for solar power solutions. The company was formerly known as Mega Stand International Limited and changed its name to Daqo New Energy Corp.