Daqo New Energy (NYSE:DQ) Shares Down 2.1% – Here’s What Happened

Daqo New Energy Corp. (NYSE:DQ)’s stock price fell 2.1% during trading on Monday . The company traded as low as $19.06 and last traded at $18.86. 49,115 shares traded hands during mid-day trading, a decline of 95% from the average session volume of 1,017,836 shares. The stock had previously closed at $19.27.

Analyst Upgrades and Downgrades

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 given a hold rating, four have assigned a buy rating and three have issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Buy” and an average target price of $22.26.

Daqo New Energy Stock Down 4.9 %

The stock has a 50 day moving average of $19.63 and a 200 day moving average of $19.65. The firm has a market capitalization of $1.21 billion, a price-to-earnings ratio of -9.90 and a beta of 0.41.

Daqo New Energy (NYSE:DQ) last released its earnings results on Thursday, February 27th. The semiconductor company reported ($2.71) EPS 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 business had revenue of $195.36 million during the quarter, compared to the consensus estimate of $153.54 million. Analysts predict that Daqo New Energy Corp. will post -3.5 earnings per share for the current year.

Hedge Funds Weigh In On Daqo New Energy

Hedge funds have recently added to or reduced their stakes in the company. Generali Investments CEE investicni spolecnost a.s. acquired a new stake in shares of Daqo New Energy in the fourth quarter worth about $52,000. Daiwa Securities Group Inc. increased its stake in Daqo New Energy by 15.4% during the third quarter. Daiwa Securities Group Inc. now owns 10,500 shares of the semiconductor company’s stock valued at $214,000 after acquiring an additional 1,400 shares during the period. Point72 Asia Singapore Pte. Ltd. lifted its position in 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 worth $285,000 after purchasing an additional 5,570 shares during the period. Diametric Capital LP raised its position in Daqo New Energy by 25.5% in the fourth quarter. Diametric Capital LP now owns 16,018 shares of the semiconductor company’s stock worth $311,000 after purchasing an additional 3,255 shares in the last quarter. Finally, Van ECK Associates Corp boosted its position in Daqo New Energy by 7.6% in the fourth quarter. Van ECK Associates Corp now owns 20,067 shares of the semiconductor company’s stock valued at $390,000 after buying an additional 1,410 shares in 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.