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

Daqo New Energy Corp. (NYSE:DQ) shares gapped down before the market opened 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

A number of research analysts have recently commented on DQ shares. The Goldman Sachs Group downgraded Daqo New Energy from a “buy” rating to a “neutral” rating and set a $17.00 target price for the company. in a research report on Tuesday. StockNews.com upgraded shares of Daqo New Energy to a “sell” rating in a research report on Tuesday, March 18th. One equities research analyst has rated the stock with a sell rating, two have given a hold rating, three have issued a buy rating and three have assigned a strong buy rating to the company. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $21.21.

Daqo New Energy Price Performance

The firm has a market cap of $950.70 million, a P/E ratio of -7.80 and a beta of 0.37. The stock’s 50-day simple moving average is $18.88 and its two-hundred day simple moving average is $19.61.

Daqo New Energy (NYSE:DQ) last issued its quarterly earnings results on Thursday, February 27th. The semiconductor company reported ($2.71) EPS for the quarter, missing the consensus estimate of ($0.69) by ($2.02). The firm 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%. As a group, sell-side analysts expect that Daqo New Energy Corp. will post -3.5 earnings per share for the current year.

Institutional Investors Weigh In On Daqo New Energy

Several hedge funds and other institutional investors have recently modified their holdings of the business. Generali Investments CEE investicni spolecnost a.s. bought a new position in Daqo New Energy in the 4th quarter valued at $52,000. Diametric Capital LP boosted its stake in shares of Daqo New Energy by 25.5% during the fourth 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 period. Van ECK Associates Corp grew its holdings in shares of 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 worth $390,000 after purchasing an additional 1,410 shares during the last quarter. Polymer Capital Management HK LTD purchased a new position in Daqo New Energy in the 4th quarter worth about $404,000. Finally, Geode Capital Management LLC lifted its holdings 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. 47.22% of the stock is currently owned by hedge funds and other institutional investors.

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.