DAQO New Energy (NYSE:DQ) Reaches New 52-Week Low – Should You Sell?

DAQO New Energy Corp. (NYSE:DQ) shares reached a new 52-week low during trading on Monday . The stock traded as low as $11.64 and last traded at $11.6470, with a volume of 512927 shares traded. The stock had previously closed at $12.40.

Analysts Set New Price Targets

Several equities analysts recently issued reports on the company. Weiss Ratings raised DAQO New Energy from a “sell (e+)” rating to a “sell (d-)” rating in a research note on Monday, July 6th. Zacks Research raised shares of DAQO New Energy from a “strong sell” rating to a “hold” rating in a research note on Monday, June 29th. Wall Street Zen downgraded shares of DAQO New Energy from a “hold” rating to a “strong sell” rating in a research note on Saturday, May 2nd. Finally, Roth Capital set a $19.00 price target on shares of DAQO New Energy in a research report on Thursday, April 30th. One equities research analyst has rated the stock with a Strong Buy rating, one has given a Buy rating, three have assigned a Hold rating and two have assigned a Sell rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Hold” and an average price target of $23.59.

DAQO New Energy Price Performance

The business’s 50 day moving average is $15.72 and its 200 day moving average is $21.24. The stock has a market cap of $788.11 million, a price-to-earnings ratio of -4.19 and a beta of 0.65.

DAQO New Energy (NYSE:DQ) last announced its quarterly earnings results on Wednesday, April 29th. The semiconductor company reported ($1.31) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.13) by ($1.18). DAQO New Energy had a negative return on equity of 3.19% and a negative net margin of 32.92%.The business had revenue of $26.72 million for the quarter, compared to analysts’ expectations of $186.28 million. As a group, analysts forecast that DAQO New Energy Corp. will post -1.31 earnings per share for the current year.

Institutional Inflows and Outflows

A number of hedge funds have recently modified their holdings of the stock. Quarry LP acquired a new stake in DAQO New Energy during the 3rd quarter worth $26,000. Headlands Technologies LLC purchased a new position in shares of DAQO New Energy during the second quarter worth about $29,000. Farther Finance Advisors LLC increased its position in shares of DAQO New Energy by 1,650.0% during the fourth quarter. Farther Finance Advisors LLC now owns 1,330 shares of the semiconductor company’s stock worth $39,000 after purchasing an additional 1,254 shares in the last quarter. Caitong International Asset Management Co. Ltd purchased a new stake in shares of DAQO New Energy in the 4th quarter valued at about $49,000. Finally, Banque Cantonale Vaudoise acquired a new stake in shares of DAQO New Energy in the 4th quarter valued at about $55,000. 47.22% of the stock is owned by hedge funds and other institutional investors.

About DAQO New Energy

DAQO New Energy Corp. operates as a leading manufacturer of high-purity polysilicon and monocrystalline silicon wafers for the global solar photovoltaic industry. The company focuses on serving module makers and integrated solar producers with critical upstream materials, applying proprietary technologies and optimized processes to achieve high product purity and consistently low production costs. Its core offerings include solar-grade polysilicon—used in the ingot casting and wafer slicing stages—and premium mono-silicon wafers, which are a key input for high-efficiency solar cell production.

Founded in the late 2000s and listed on the New York Stock Exchange in 2010, DAQO New Energy established its first polysilicon facility in China’s Xinjiang Uygur Autonomous Region.