DAQO New Energy (NYSE:DQ) Hits New 12-Month Low - What's Next?

Key Points

• DAQO New Energy hit a new 52-week low, trading as low as $11.64 after falling about 6.1% on the day. The decline comes as the stock remains well below both its 50-day and 200-day moving averages.
• Analyst sentiment is mixed but cautious, with the stock currently carrying an average Hold rating and a consensus price target of $23.59. Recent rating changes included downgrades from Wall Street Zen and upgrades from Zacks Research and Weiss Ratings.
• The company’s latest earnings report was weak, with a quarterly loss of $1.31 per share and revenue of $26.72 million versus expectations of $186.28 million. Analysts currently expect DAQO New Energy to post -1.31 EPS for the full year.

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

Wall Street Analysts Forecast Growth

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

DAQO New Energy Trading Down 6.1%

The stock's fifty day simple moving average is $15.72 and its 200 day simple moving average is $21.24. The company 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 - Get Free Report) last issued its earnings results on Wednesday, April 29th. The semiconductor company reported ($1.31) earnings per share for the quarter, missing the consensus estimate 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 company had revenue of $26.72 million for the quarter, compared to analyst estimates of $186.28 million. On average, analysts predict that DAQO New Energy Corp. will post -1.31 EPS for the current year.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of the stock. Banque Cantonale Vaudoise boosted its holdings in DAQO New Energy by 37.5% in the 1st quarter. Banque Cantonale Vaudoise now owns 2,579 shares of the semiconductor company's stock valued at $55,000 after purchasing an additional 703 shares during the last quarter. Vontobel Holding Ltd. grew its holdings in shares of DAQO New Energy by 1.5% during the 4th quarter. Vontobel Holding Ltd. now owns 57,176 shares of the semiconductor company's stock worth $1,687,000 after purchasing an additional 836 shares during the period. Quarry LP acquired a new stake in shares of DAQO New Energy during the 3rd quarter worth about $26,000. Boothbay Fund Management LLC raised its holdings in DAQO New Energy by 1.3% in the 3rd quarter. Boothbay Fund Management LLC now owns 97,747 shares of the semiconductor company's stock valued at $2,750,000 after buying an additional 1,237 shares during the period. Finally, Farther Finance Advisors LLC lifted its position in DAQO New Energy by 1,650.0% in the fourth quarter. Farther Finance Advisors LLC now owns 1,330 shares of the semiconductor company's stock valued at $39,000 after buying an additional 1,254 shares during 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. 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.

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