DAQO New Energy (NYSE:DQ) Releases Quarterly Earnings Results, Misses Estimates By $0.78 EPS

Key Points

• DAQO New Energy reported a quarterly loss of $1.20 per share, missing the consensus estimate of a $0.42 loss by $0.78. The company also posted a negative 32.92% net margin and negative 3.19% return on equity.
• Shares opened at $14.06, with a market capitalization of approximately $951 million and a 52-week trading range of $11.38 to $36.59.
• Analyst sentiment remains mixed, with an average rating of Hold and an average price target of $22.35; institutional investors own 47.22% of the stock.

DAQO New Energy (NYSE:DQ - Get Free Report) announced its quarterly earnings results on Thursday. The semiconductor company reported ($1.20) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.42) by ($0.78), Zacks reports. DAQO New Energy had a negative return on equity of 3.19% and a negative net margin of 32.92%.

DAQO New Energy Stock Performance

Shares of NYSE:DQ opened at $14.06 on Thursday. The firm has a fifty day moving average of $13.19 and a 200 day moving average of $18.34. DAQO New Energy has a 52-week low of $11.38 and a 52-week high of $36.59. The firm has a market capitalization of $951.17 million, a PE ratio of -5.06 and a beta of 0.66.

Institutional Investors Weigh In On DAQO New Energy

Hedge funds have recently made changes to their positions in the business. Arrowstreet Capital Limited Partnership purchased a new position in shares of DAQO New Energy in the third quarter worth about $18,280,000. Goldman Sachs Group Inc. grew its holdings in DAQO New Energy by 117.2% in the 1st quarter. Goldman Sachs Group Inc. now owns 1,159,835 shares of the semiconductor company's stock worth $21,005,000 after acquiring an additional 625,900 shares during the last quarter. Marshall Wace LLP purchased a new position in shares of DAQO New Energy in the fourth quarter valued at about $16,742,000. Millennium Management LLC increased its position in shares of DAQO New Energy by 1,261.0% in the first quarter. Millennium Management LLC now owns 354,596 shares of the semiconductor company's stock valued at $6,422,000 after acquiring an additional 328,541 shares during the period. Finally, Invesco Ltd. raised its stake in shares of DAQO New Energy by 22.6% during the fourth quarter. Invesco Ltd. now owns 1,429,565 shares of the semiconductor company's stock valued at $42,172,000 after acquiring an additional 263,614 shares during the last quarter. 47.22% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

A number of equities research analysts have recently commented on DQ shares. Zacks Research cut DAQO New Energy from a "hold" rating to a "strong sell" rating in a research note on Friday, August 7th. Roth Capital set a $19.00 price objective on shares of DAQO New Energy in a report on Thursday, April 30th. The Goldman Sachs Group reaffirmed a "neutral" rating and issued a $11.20 price objective on shares of DAQO New Energy in a research report on Monday, July 27th. Weiss Ratings raised shares of DAQO New Energy from a "sell (e+)" rating to a "sell (d-)" rating in a research report on Tuesday, August 11th. Finally, JPMorgan Chase & Co. decreased their price target on shares of DAQO New Energy from $35.50 to $22.00 and set an "overweight" rating for the company in a research note on Friday, July 31st. One analyst has rated the stock with a Strong Buy rating, two have given a Buy rating, two have assigned a Hold rating and three have given a Sell rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of "Hold" and an average target price of $22.35.

DAQO New Energy Company Profile

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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