DAQO New Energy (NYSE:DQ) Shares Gap Down - Should You Sell?

DAQO New Energy Corp. (NYSE:DQ - Get Free Report)'s share price gapped down before the market opened on Tuesday . The stock had previously closed at $14.40, but opened at $13.90. DAQO New Energy shares last traded at $13.92, with a volume of 148,907 shares trading hands.

Wall Street Analyst Weigh In

A number of brokerages have weighed in on DQ. HSBC lowered shares of DAQO New Energy from a "buy" rating to a "hold" rating and set a $14.00 target price for the company. in a research report on Wednesday, April 30th. The Goldman Sachs Group lowered shares of 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, April 15th. Wall Street Zen upgraded shares of DAQO New Energy to a "sell" rating in a research report on Monday, April 21st. Finally, Hsbc Global Res lowered shares of DAQO New Energy from a "strong-buy" rating to a "hold" rating in a report on Wednesday, April 30th. One analyst has rated the stock with a sell rating, four have assigned a hold rating, two have assigned a buy rating and two have issued a strong buy rating to the company's stock. According to MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average price target of $21.01.

DAQO New Energy Price Performance

The stock has a 50 day simple moving average of $13.89 and a 200-day simple moving average of $17.22. The firm has a market cap of $931.33 million, a PE ratio of -2.13 and a beta of 0.59.

DAQO New Energy (NYSE:DQ - Get Free Report) last released its quarterly earnings data 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 business had revenue of $123.91 million during the quarter, compared to the consensus estimate of $176.81 million. As a group, equities analysts predict that DAQO New Energy Corp. will post -3.5 EPS for the current fiscal year.

Institutional Investors Weigh In On DAQO New Energy

A number of large investors have recently made changes to their positions in the company. Caitong International Asset Management Co. Ltd increased its stake in shares of DAQO New Energy by 86,700.0% in the 1st quarter. Caitong International Asset Management Co. Ltd now owns 1,736 shares of the semiconductor company's stock worth $31,000 after purchasing an additional 1,734 shares in the last quarter. Generali Investments CEE investicni spolecnost a.s. purchased a new position in shares of DAQO New Energy in the fourth quarter worth $52,000. Virtu Financial LLC bought a new position in shares of DAQO New Energy during the 1st quarter valued at about $187,000. Vident Advisory LLC bought a new position in DAQO New Energy during the first quarter valued at approximately $216,000. Finally, Harvest Portfolios Group Inc. purchased a new position in shares of DAQO New Energy in the first quarter valued at $305,000. 47.22% of the stock is currently owned by institutional investors.

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.