DAQO New Energy (NYSE:DQ) Shares Cross Above Two Hundred Day Moving Average - What's Next?

Key Points

• DAQO New Energy Corp. (NYSE:DQ) has surpassed its 200-day moving average, reaching a high of $24.54, and was last traded at $23.29 with a significant trading volume of 1,649,051 shares.
• Recent analyst ratings have mixed opinions on DAQO, with one analyst rating it a "sell", while others have given it "buy" and "hold" ratings, resulting in a consensus rating of "Moderate Buy" and an average target price of $23.22.
• For the latest quarter, DAQO reported a loss of ($1.07) EPS, missing estimates, alongside a revenue of $123.91 million, which fell short of the expected $176.81 million, indicating ongoing challenges for the company.

DAQO New Energy Corp. (NYSE:DQ - Get Free Report) shares crossed above its 200-day moving average during trading on Friday . The stock has a 200-day moving average of $17.15 and traded as high as $24.54. DAQO New Energy shares last traded at $23.29, with a volume of 1,649,051 shares traded.

Analyst Upgrades and Downgrades

A number of equities analysts recently weighed in on DQ shares. Hsbc Global Res downgraded shares of DAQO New Energy from a "strong-buy" rating to a "hold" rating in a report on Wednesday, April 30th. Glj Research upgraded shares of DAQO New Energy from a "sell" rating to a "buy" rating and set a $30.51 target price on the stock in a report on Thursday, July 10th. HSBC downgraded shares of DAQO New Energy from a "buy" rating to a "hold" rating and set a $14.00 target price on the stock. in a report on Wednesday, April 30th. The Goldman Sachs Group cut shares of DAQO New Energy from a "buy" rating to a "neutral" rating and set a $17.00 price objective for the company. in a research report on Tuesday, April 15th. Finally, Wall Street Zen raised shares of DAQO New Energy to a "sell" rating in a research report on Monday, April 21st. One analyst has rated the stock with a sell rating, four have given a hold rating, four have assigned a buy rating and two have given a strong buy rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and a consensus price target of $23.22.

DAQO New Energy Price Performance

The stock's 50-day moving average price is $16.62 and its 200-day moving average price is $17.13. The company has a market cap of $1.58 billion, a P/E ratio of -3.61 and a beta of 0.60.

DAQO New Energy (NYSE:DQ - Get Free Report) last posted its quarterly earnings data on Tuesday, April 29th. The semiconductor company reported ($1.07) earnings per share 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 firm had revenue of $123.91 million for the quarter, compared to the consensus estimate of $176.81 million. As a group, analysts expect that DAQO New Energy Corp. will post -3.5 EPS for the current fiscal year.

Institutional Investors Weigh In On DAQO New Energy

Institutional investors and hedge funds have recently bought and sold shares of the company. Continental General Insurance Co. lifted its position in DAQO New Energy by 5.8% during the fourth quarter. Continental General Insurance Co. now owns 5,916,202 shares of the semiconductor company's stock worth $115,011,000 after purchasing an additional 322,084 shares during the period. Northern Trust Corp boosted its stake in shares of DAQO New Energy by 27.2% in the 4th quarter. Northern Trust Corp now owns 119,786 shares of the semiconductor company's stock valued at $2,329,000 after purchasing an additional 25,647 shares in the last quarter. Prudential PLC acquired a new position in DAQO New Energy during the 4th quarter worth approximately $14,775,000. Barclays PLC increased its position in DAQO New Energy by 587.8% during the 4th quarter. Barclays PLC now owns 80,750 shares of the semiconductor company's stock worth $1,570,000 after purchasing an additional 69,010 shares in the last quarter. Finally, Hsbc Holdings PLC increased its position in DAQO New Energy by 381.6% during the 4th quarter. Hsbc Holdings PLC now owns 81,576 shares of the semiconductor company's stock worth $1,586,000 after purchasing an additional 64,639 shares in the last quarter. 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.