DAQO New Energy (NYSE:DQ) Shares Down 4% - Time to Sell?

DAQO New Energy Corp. (NYSE:DQ - Get Free Report)'s share price dropped 4% during mid-day trading on Wednesday . The stock traded as low as $18.12 and last traded at $18.55. Approximately 244,137 shares were traded during mid-day trading, a decline of 76% from the average daily volume of 1,017,779 shares. The stock had previously closed at $19.32.

Analyst Upgrades and Downgrades

DQ has been the subject of a number of analyst reports. Hsbc Global Res downgraded DAQO New Energy from a "strong-buy" rating to a "hold" rating in a research report on Wednesday, April 30th. Glj Research raised shares of DAQO New Energy from a "sell" rating to a "buy" rating and set a $30.51 price target on the stock in a research report on Thursday. HSBC downgraded shares of DAQO New Energy from a "buy" rating to a "hold" rating and set a $14.00 price target for the company. in a research note on Wednesday, April 30th. The Goldman Sachs Group cut DAQO New Energy from a "buy" rating to a "neutral" rating and set a $17.00 price objective for the company. in a research note on Tuesday, April 15th. Finally, Wall Street Zen raised DAQO New Energy to a "sell" rating in a research note on Monday, April 21st. One research analyst has rated the stock with a sell rating, four have assigned a hold rating, three have issued a buy rating and two have issued a strong buy rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average price target of $22.59.

DAQO New Energy Price Performance

The company has a market cap of $1.35 billion, a P/E ratio of -3.11 and a beta of 0.60. The company has a 50 day moving average of $14.55 and a 200-day moving average of $17.00.

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

Institutional Investors Weigh In On DAQO New Energy

A number of large investors have recently added to or reduced their stakes in the company. Prudential PLC purchased a new stake in DAQO New Energy in the fourth quarter worth approximately $14,775,000. Goldman Sachs Group Inc. raised its stake in shares of DAQO New Energy by 117.2% during the first 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 in the last quarter. SG Americas Securities LLC purchased a new position in shares of DAQO New Energy during the first quarter worth approximately $9,372,000. Hsbc Holdings PLC raised its stake in shares of DAQO New Energy by 514.3% during the first quarter. Hsbc Holdings PLC now owns 501,145 shares of the semiconductor company's stock worth $9,026,000 after acquiring an additional 419,569 shares in the last quarter. Finally, Point72 Asset Management L.P. lifted its stake in DAQO New Energy by 67.5% in the fourth quarter. Point72 Asset Management L.P. now owns 886,655 shares of the semiconductor company's stock worth $17,237,000 after purchasing an additional 357,460 shares during the last quarter. Hedge funds and other 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.