Daqo New Energy (NYSE:DQ) Shares Gap Down – Time to Sell?

Daqo New Energy Corp. (NYSE:DQ) gapped down prior to trading on Thursday . The stock had previously closed at $19.20, but opened at $18.60. Daqo New Energy shares last traded at $19.22, with a volume of 247,187 shares.

Analysts Set New Price Targets

Several equities research analysts have commented on the stock. Daiwa America upgraded shares of Daqo New Energy from a “hold” rating to a “strong-buy” rating in a research note on Wednesday, October 30th. Roth Mkm cut their target price on shares of Daqo New Energy from $23.00 to $15.00 and set a “neutral” rating for the company in a research report on Wednesday, August 28th. StockNews.com raised Daqo New Energy to a “sell” rating in a report on Monday, September 23rd. Hsbc Global Res upgraded shares of Daqo New Energy from a “hold” rating to a “strong-buy” rating in a research report on Wednesday, October 2nd. Finally, Nomura Securities raised shares of Daqo New Energy to a “strong-buy” rating in a report on Wednesday, August 28th. One research analyst has rated the stock with a sell rating, one has given a hold rating, four have issued a buy rating and three have given a strong buy rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Buy” and an average price target of $22.26.

Daqo New Energy Trading Up 0.5 %

The stock’s fifty day moving average is $20.30 and its 200 day moving average is $18.20. The company has a market capitalization of $1.27 billion, a P/E ratio of -10.43 and a beta of 0.28.

Daqo New Energy (NYSE:DQ) last issued its quarterly earnings data on Wednesday, October 30th. The semiconductor company reported ($0.92) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.80) by ($0.12). Daqo New Energy had a negative net margin of 9.16% and a negative return on equity of 1.90%. The company had revenue of $198.50 million for the quarter, compared to analysts’ expectations of $186.90 million. During the same period in the previous year, the firm posted ($0.09) earnings per share. On average, analysts expect that Daqo New Energy Corp. will post -3.5 EPS for the current fiscal year.

Hedge Funds Weigh In On Daqo New Energy

Institutional investors have recently added to or reduced their stakes in the company. Sylebra Capital LLC raised its stake in Daqo New Energy by 103.9% during the second quarter. Sylebra Capital LLC now owns 943,692 shares of the semiconductor company’s stock valued at $13,778,000 after buying an additional 480,980 shares during the last quarter. Marshall Wace LLP lifted its position in Daqo New Energy by 112.3% during the second quarter. Marshall Wace LLP now owns 322,635 shares of the semiconductor company’s stock valued at $4,710,000 after purchasing an additional 170,660 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its stake in shares of Daqo New Energy by 32.2% in the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 135,732 shares of the semiconductor company’s stock worth $2,765,000 after buying an additional 33,031 shares during the last quarter. Public Employees Retirement System of Ohio purchased a new stake in shares of Daqo New Energy during the 3rd quarter valued at about $1,053,000. Finally, BNP Paribas Financial Markets raised its position in Daqo New Energy by 57.5% in the third quarter. BNP Paribas Financial Markets now owns 74,571 shares of the semiconductor company’s stock worth $1,519,000 after acquiring an additional 27,223 shares during the period. Institutional investors own 47.22% of the company’s stock.

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.