Daqo New Energy (NYSE:DQ) Shares Gap Down to $22.37

Daqo New Energy Corp. (NYSE:DQ - Get Free Report) gapped down prior to trading on Thursday . The stock had previously closed at $22.37, but opened at $21.03. Daqo New Energy shares last traded at $20.70, with a volume of 302,767 shares.

Analysts Set New Price Targets

A number of research firms recently issued reports on DQ. Roth Mkm reaffirmed a "neutral" rating and set a $23.00 price target on shares of Daqo New Energy in a research note on Tuesday, April 30th. Daiwa Capital Markets reissued an "underperform" rating and set a $25.00 price objective on shares of Daqo New Energy in a research note on Friday, March 15th. Finally, HSBC reaffirmed a "reduce" rating and issued a $17.50 price objective (down from $23.50) on shares of Daqo New Energy in a research note on Monday, May 6th. Two investment analysts have rated the stock with a sell rating, two have assigned a hold rating and one has assigned a buy rating to the stock. According to MarketBeat, the company has an average rating of "Hold" and a consensus price target of $27.63.

Daqo New Energy Trading Down 9.7 %

The company has a market cap of $1.33 billion, a PE ratio of 9.49 and a beta of 0.32. The company has a fifty day simple moving average of $23.12 and a two-hundred day simple moving average of $23.10.

Daqo New Energy (NYSE:DQ - Get Free Report) last released its quarterly earnings data on Monday, April 29th. The semiconductor company reported $0.24 earnings per share for the quarter, missing the consensus estimate of $0.56 by ($0.32). Daqo New Energy had a net margin of 7.84% and a return on equity of 2.46%. The firm had revenue of $415.31 million during the quarter, compared to analysts' expectations of $491.90 million. During the same period in the previous year, the business earned $3.52 earnings per share. On average, research analysts anticipate that Daqo New Energy Corp. will post 0.98 EPS for the current fiscal year.

Hedge Funds Weigh In On Daqo New Energy

Several institutional investors and hedge funds have recently modified their holdings of the company. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. raised its stake in shares of Daqo New Energy by 1.2% during the third quarter. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. now owns 46,845 shares of the semiconductor company's stock valued at $1,418,000 after purchasing an additional 566 shares during the period. Barclays PLC grew its stake in Daqo New Energy by 97.6% during the 3rd quarter. Barclays PLC now owns 157,665 shares of the semiconductor company's stock valued at $4,772,000 after acquiring an additional 77,890 shares in the last quarter. Van ECK Associates Corp increased its stake in Daqo New Energy by 6.3% in the 3rd quarter. Van ECK Associates Corp now owns 26,088 shares of the semiconductor company's stock valued at $789,000 after buying an additional 1,537 shares during the period. Pathstone Family Office LLC raised its stake in shares of Daqo New Energy by 25.9% during the 3rd quarter. Pathstone Family Office LLC now owns 10,562 shares of the semiconductor company's stock worth $320,000 after purchasing an additional 2,171 shares in the last quarter. Finally, State of New Jersey Common Pension Fund D grew its position in Daqo New Energy by 32.0% in the third quarter. State of New Jersey Common Pension Fund D now owns 19,575 shares of the semiconductor company's stock worth $593,000 after acquiring an additional 4,745 shares in 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.