Daqo New Energy (NYSE:DQ) Trading Down 4.7% - Here's What Happened

Daqo New Energy Corp. (NYSE:DQ - Get Free Report) shares fell 4.7% during mid-day trading on Tuesday . The company traded as low as $15.23 and last traded at $15.12. 152,519 shares changed hands during mid-day trading, a decline of 85% from the average session volume of 1,028,444 shares. The stock had previously closed at $15.86.

Wall Street Analysts Forecast Growth

Separately, StockNews.com raised Daqo New Energy to a "sell" rating in a research report on Tuesday, March 18th. One research analyst has rated the stock with a sell rating, one has issued a hold rating, four have assigned a buy rating and three have issued a strong buy rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of "Buy" and an average target price of $22.26.

Daqo New Energy Stock Up 0.9 %

The stock has a market cap of $908.52 million, a PE ratio of -7.44 and a beta of 0.37. The stock's fifty day moving average price is $18.95 and its 200 day moving average price is $19.64.

Daqo New Energy (NYSE:DQ - Get Free Report) last posted its earnings results on Thursday, February 27th. The semiconductor company reported ($2.71) EPS for the quarter, missing analysts' consensus estimates of ($0.69) by ($2.02). The business had revenue of $195.36 million during the quarter, compared to the consensus estimate of $153.54 million. Daqo New Energy had a negative return on equity of 1.90% and a negative net margin of 9.16%. On average, equities research analysts expect that Daqo New Energy Corp. will post -3.5 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently bought and sold shares of the company. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its stake in shares of Daqo New Energy by 32.2% during the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 135,732 shares of the semiconductor company's stock worth $2,765,000 after acquiring an additional 33,031 shares during the last quarter. State Street Corp raised its stake in shares of Daqo New Energy by 1.1% in the third quarter. State Street Corp now owns 842,921 shares of the semiconductor company's stock worth $17,170,000 after buying an additional 8,983 shares during the period. Wellington Management Group LLP lifted its position in shares of Daqo New Energy by 26.0% during the 3rd quarter. Wellington Management Group LLP now owns 128,422 shares of the semiconductor company's stock valued at $2,616,000 after buying an additional 26,462 shares in the last quarter. Public Employees Retirement System of Ohio bought a new position in shares of Daqo New Energy during the 3rd quarter valued at approximately $1,053,000. Finally, Geode Capital Management LLC increased its holdings in Daqo New Energy by 9.2% in the 3rd quarter. Geode Capital Management LLC now owns 33,546 shares of the semiconductor company's stock worth $683,000 after acquiring an additional 2,813 shares in the last quarter. 47.22% of the stock is owned by hedge funds and other 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.