Daqo New Energy (NYSE:DQ) Stock Price Down 2.1% – Here’s Why

Shares of Daqo New Energy Corp. (NYSE:DQ) were down 2.1% on Monday . The company traded as low as $19.06 and last traded at $18.86. Approximately 49,115 shares traded hands during trading, a decline of 95% from the average daily volume of 1,017,836 shares. The stock had previously closed at $19.27.

Wall Street Analyst Weigh In

Separately, StockNews.com upgraded shares of Daqo New Energy to a “sell” rating in a research note on Tuesday, March 18th. One equities research analyst has rated the stock with a sell rating, one has issued a hold rating, four have issued a buy rating and three have assigned a strong buy rating to the stock. According to MarketBeat, the stock currently has an average rating of “Buy” and an average price target of $22.26.

Daqo New Energy Trading Up 2.9 %

The firm has a market cap of $1.23 billion, a PE ratio of -10.04 and a beta of 0.41. The business has a fifty day moving average price of $19.60 and a 200 day moving average price of $19.69.

Daqo New Energy (NYSE:DQ) last released its quarterly earnings data on Thursday, February 27th. The semiconductor company reported ($2.71) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.69) by ($2.02). Daqo New Energy had a negative return on equity of 1.90% and a negative net margin of 9.16%. The company had revenue of $195.36 million for the quarter, compared to analyst estimates of $153.54 million. On average, research analysts expect that Daqo New Energy Corp. will post -3.5 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Daqo New Energy

Several large investors have recently bought and sold shares of the stock. Generali Investments CEE investicni spolecnost a.s. purchased a new stake in shares of Daqo New Energy in the 4th quarter valued at about $52,000. Daiwa Securities Group Inc. lifted its stake in Daqo New Energy by 15.4% in the third quarter. Daiwa Securities Group Inc. now owns 10,500 shares of the semiconductor company’s stock valued at $214,000 after buying an additional 1,400 shares during the last quarter. Point72 Asia Singapore Pte. Ltd. boosted its holdings in shares of Daqo New Energy by 66.1% in the third quarter. Point72 Asia Singapore Pte. Ltd. now owns 14,000 shares of the semiconductor company’s stock valued at $285,000 after acquiring an additional 5,570 shares during the period. Diametric Capital LP grew its position in shares of Daqo New Energy by 25.5% during the fourth quarter. Diametric Capital LP now owns 16,018 shares of the semiconductor company’s stock worth $311,000 after acquiring an additional 3,255 shares during the last quarter. Finally, Van ECK Associates Corp grew its position in shares of Daqo New Energy by 7.6% during the fourth quarter. Van ECK Associates Corp now owns 20,067 shares of the semiconductor company’s stock worth $390,000 after acquiring an additional 1,410 shares during the last quarter. Institutional investors and hedge funds own 47.22% of the company’s stock.

About Daqo New Energy

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.