Daqo New Energy (NYSE:DQ) Shares Gap Down – What’s Next?

Daqo New Energy Corp. (NYSE:DQ)’s share price gapped down prior to trading on Tuesday . The stock had previously closed at $19.07, but opened at $18.24. Daqo New Energy shares last traded at $17.62, with a volume of 319,936 shares trading hands.

Analyst Upgrades and Downgrades

Several equities research analysts have commented on the stock. StockNews.com raised shares of Daqo New Energy to a “sell” rating in a research report on Monday, September 23rd. HSBC raised Daqo New Energy from a “hold” rating to a “buy” rating in a research report on Wednesday, October 2nd. Daiwa America raised Daqo New Energy from a “hold” rating to a “strong-buy” rating in a research report on Wednesday, October 30th. Hsbc Global Res raised Daqo New Energy from a “hold” rating to a “strong-buy” rating in a report on Wednesday, October 2nd. Finally, Daiwa Capital Markets upgraded shares of Daqo New Energy from a “neutral” rating to an “outperform” rating in a report on Wednesday, October 30th. One analyst has rated the stock with a sell rating, one has issued a hold rating, four have assigned a buy rating and three have issued a strong buy rating to the company. According to MarketBeat, Daqo New Energy presently has an average rating of “Buy” and a consensus price target of $22.26.

Daqo New Energy Trading Down 6.4 %

The stock has a market cap of $1.18 billion, a P/E ratio of -9.64 and a beta of 0.26. The firm has a 50-day simple moving average of $19.38 and a two-hundred day simple moving average of $18.51.

Daqo New Energy (NYSE:DQ) last posted 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 business had revenue of $198.50 million during the quarter, compared to the consensus estimate of $186.90 million. During the same period in the prior year, the firm earned ($0.09) EPS. Sell-side analysts predict that Daqo New Energy Corp. will post -3.5 earnings per share for the current year.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of DQ. Ariose Capital Management Ltd increased its holdings in shares of Daqo New Energy by 27.5% during the fourth quarter. Ariose Capital Management Ltd now owns 1,505,709 shares of the semiconductor company’s stock worth $29,271,000 after buying an additional 324,585 shares in the last quarter. Geode Capital Management LLC raised its position in Daqo New Energy by 9.2% in the third quarter. Geode Capital Management LLC now owns 33,546 shares of the semiconductor company’s stock valued at $683,000 after purchasing an additional 2,813 shares during the last quarter. Public Employees Retirement System of Ohio acquired a new stake in shares of Daqo New Energy during the third quarter valued at about $1,053,000. Wellington Management Group LLP grew its holdings in shares of Daqo New Energy by 26.0% during the third quarter. Wellington Management Group LLP now owns 128,422 shares of the semiconductor company’s stock worth $2,616,000 after purchasing an additional 26,462 shares during the last quarter. Finally, Wexford Capital LP increased its stake in shares of Daqo New Energy by 395.7% in the third quarter. Wexford Capital LP now owns 164,809 shares of the semiconductor company’s stock valued at $3,357,000 after buying an additional 131,564 shares during the period. Institutional investors and hedge funds 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.