DAQO New Energy (NYSE:DQ) Sets New 1-Year Low – Time to Sell?

DAQO New Energy Corp. (NYSE:DQ) reached a new 52-week low during trading on Friday . The company traded as low as $11.54 and last traded at $11.6060, with a volume of 125501 shares traded. The stock had previously closed at $11.91.

Analyst Ratings Changes

DQ has been the subject of several research reports. Zacks Research upgraded shares of DAQO New Energy from a “strong sell” rating to a “hold” rating in a report on Monday, June 29th. Weiss Ratings raised DAQO New Energy from a “sell (e+)” rating to a “sell (d-)” rating in a research report on Monday, July 6th. Wall Street Zen lowered DAQO New Energy from a “hold” rating to a “strong sell” rating in a research note on Saturday, May 2nd. Finally, Roth Capital set a $19.00 price objective on shares of DAQO New Energy in a report on Thursday, April 30th. One equities research analyst has rated the stock with a Strong Buy rating, one has given a Buy rating, three have issued a Hold rating and two have given a Sell rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average target price of $23.59.

DAQO New Energy Price Performance

The firm has a 50 day simple moving average of $14.45 and a two-hundred day simple moving average of $20.07. The stock has a market cap of $787.00 million, a price-to-earnings ratio of -4.18 and a beta of 0.65.

DAQO New Energy (NYSE:DQ) last announced its quarterly earnings results on Wednesday, April 29th. The semiconductor company reported ($1.31) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.13) by ($1.18). DAQO New Energy had a negative net margin of 32.92% and a negative return on equity of 3.19%. The firm had revenue of $26.72 million during the quarter, compared to analyst estimates of $186.28 million. On average, sell-side analysts expect that DAQO New Energy Corp. will post -1.31 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently modified their holdings of DQ. Quarry LP acquired a new stake in DAQO New Energy during the 3rd quarter valued at $26,000. Farther Finance Advisors LLC lifted its holdings 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 worth $39,000 after purchasing an additional 1,254 shares during the last quarter. Caitong International Asset Management Co. Ltd bought a new stake in DAQO New Energy in the 4th quarter valued at $49,000. Banque Cantonale Vaudoise bought a new stake in DAQO New Energy in the 4th quarter valued at $55,000. Finally, Headlands Technologies LLC acquired a new position in DAQO New Energy in the 2nd quarter valued at $29,000. 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.