DAQO New Energy (NYSE:DQ) Shares Gap Down - Time to Sell?

DAQO New Energy Corp. (NYSE:DQ - Get Free Report) gapped down before the market opened on Monday . The stock had previously closed at $18.98, but opened at $18.16. DAQO New Energy shares last traded at $17.88, with a volume of 400,617 shares changing hands.

Analyst Ratings Changes

Several research analysts recently commented on DQ shares. Wall Street Zen upgraded DAQO New Energy to a "sell" rating in a research report on Monday, April 21st. HSBC cut DAQO New Energy from a "buy" rating to a "hold" rating and set a $14.00 target price for the company. in a report on Wednesday, April 30th. The Goldman Sachs Group downgraded DAQO New Energy from a "buy" rating to a "neutral" rating and set a $17.00 target price on the stock. in a research report on Tuesday, April 15th. Finally, Hsbc Global Res downgraded DAQO New Energy from a "strong-buy" rating to a "hold" rating in a research report on Wednesday, April 30th. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating, two have given a buy rating and two have given a strong buy rating to the stock. Based on data from MarketBeat, DAQO New Energy has a consensus rating of "Moderate Buy" and an average target price of $21.01.

DAQO New Energy Trading Down 8.1%

The company has a 50-day simple moving average of $14.24 and a 200 day simple moving average of $16.97. The company has a market cap of $1.17 billion, a P/E ratio of -2.68 and a beta of 0.60.

DAQO New Energy (NYSE:DQ - Get Free Report) last posted its quarterly earnings results on Tuesday, April 29th. The semiconductor company reported ($1.07) EPS for the quarter, missing the consensus estimate of ($1.02) by ($0.05). DAQO New Energy had a negative return on equity of 7.16% and a negative net margin of 58.63%. The company had revenue of $123.91 million during the quarter, compared to analysts' expectations of $176.81 million. On average, equities analysts forecast that DAQO New Energy Corp. will post -3.5 EPS for the current fiscal year.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently bought and sold shares of the company. Generali Investments CEE investicni spolecnost a.s. purchased a new stake in shares of DAQO New Energy during the 4th quarter worth $52,000. American Century Companies Inc. raised its holdings in DAQO New Energy by 9.3% in the 4th quarter. American Century Companies Inc. now owns 210,738 shares of the semiconductor company's stock worth $4,097,000 after purchasing an additional 17,880 shares during the period. AI Squared Management Ltd purchased a new position in DAQO New Energy during the fourth quarter worth approximately $1,499,000. O Shaughnessy Asset Management LLC lifted its position in shares of DAQO New Energy by 37.2% during the 4th quarter. O Shaughnessy Asset Management LLC now owns 45,788 shares of the semiconductor company's stock valued at $890,000 after buying an additional 12,409 shares in the last quarter. Finally, Diametric Capital LP grew its position in shares of DAQO New Energy by 25.5% in 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. Institutional investors own 47.22% of the company's stock.

DAQO New Energy Company Profile

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.