Daqo New Energy (NYSE:DQ) Shares Gap Down – Should You Sell?

Daqo New Energy Corp. (NYSE:DQ)’s stock price gapped down prior to trading on Tuesday . The stock had previously closed at $14.46, but opened at $13.94. Daqo New Energy shares last traded at $14.34, with a volume of 74,901 shares.

Analyst Upgrades and Downgrades

DQ has been the topic of several research reports. StockNews.com upgraded Daqo New Energy to a “sell” rating in a report on Tuesday, March 18th. The Goldman Sachs Group lowered Daqo New Energy from a “buy” rating to a “neutral” rating and set a $17.00 price target on the stock. in a research note on Tuesday. One investment analyst has rated the stock with a sell rating, two have issued a hold rating, three have issued 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 an average rating of “Moderate Buy” and a consensus price target of $21.21.

Daqo New Energy Trading Down 0.4 %

The firm has a 50-day simple moving average of $18.88 and a 200-day simple moving average of $19.61. The firm has a market cap of $950.70 million, a P/E ratio of -7.80 and a beta of 0.37.

Daqo New Energy (NYSE:DQ) last issued 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). The company had revenue of $195.36 million for the quarter, compared to the consensus estimate of $153.54 million. Daqo New Energy had a negative net margin of 9.16% and a negative return on equity of 1.90%. Research analysts predict that Daqo New Energy Corp. will post -3.5 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Daqo New Energy

A number of hedge funds and other institutional investors have recently bought and sold shares of DQ. Generali Investments CEE investicni spolecnost a.s. purchased a new position in Daqo New Energy in the fourth quarter worth $52,000. Diametric Capital LP lifted its holdings in shares of Daqo New Energy by 25.5% during the 4th quarter. Diametric Capital LP now owns 16,018 shares of the semiconductor company’s stock valued at $311,000 after purchasing an additional 3,255 shares during the last quarter. Van ECK Associates Corp boosted its position in shares of Daqo New Energy by 7.6% in the 4th quarter. Van ECK Associates Corp now owns 20,067 shares of the semiconductor company’s stock worth $390,000 after purchasing an additional 1,410 shares in the last quarter. Polymer Capital Management HK LTD purchased a new position in Daqo New Energy during the 4th quarter worth $404,000. Finally, Geode Capital Management LLC increased its position in Daqo New Energy by 9.2% during the 3rd quarter. Geode Capital Management LLC now owns 33,546 shares of the semiconductor company’s stock valued at $683,000 after buying an additional 2,813 shares in the last quarter. Hedge funds and other institutional investors 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.