Daqo New Energy (NYSE:DQ) Shares Down 3.7%

Daqo New Energy Corp. (NYSE:DQ - Get Free Report)'s stock price dropped 3.7% during trading on Monday . The stock traded as low as $26.03 and last traded at $26.03. Approximately 490,126 shares were traded during trading, a decline of 63% from the average daily volume of 1,320,347 shares. The stock had previously closed at $27.04.

Wall Street Analyst Weigh In

Separately, Daiwa Capital Markets reiterated an "underperform" rating and set a $25.00 price objective on shares of Daqo New Energy in a research note on Friday, March 15th. One equities research analyst has 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.com, the company presently has a consensus rating of "Hold" and an average target price of $36.23.

Daqo New Energy Stock Performance

The company has a 50 day simple moving average of $23.02 and a 200 day simple moving average of $24.40. The company has a market capitalization of $2.00 billion, a PE ratio of 4.79 and a beta of 0.22.

Daqo New Energy (NYSE:DQ - Get Free Report) last announced its earnings results on Wednesday, February 28th. The semiconductor company reported $0.64 earnings per share for the quarter, missing the consensus estimate of $0.84 by ($0.20). Daqo New Energy had a return on equity of 6.42% and a net margin of 18.24%. The business had revenue of $477.13 million for the quarter, compared to analyst estimates of $529.40 million. During the same quarter last year, the company posted $4.71 EPS. As a group, equities research analysts anticipate that Daqo New Energy Corp. will post 4.06 EPS for the current year.

Institutional Investors Weigh In On Daqo New Energy

A number of hedge funds have recently added to or reduced their stakes in the company. Franklin Resources Inc. lifted its position in Daqo New Energy by 2.0% in the fourth quarter. Franklin Resources Inc. now owns 2,728,399 shares of the semiconductor company's stock valued at $72,575,000 after purchasing an additional 53,860 shares during the period. BlackRock Inc. lifted its position in Daqo New Energy by 3.0% in the first quarter. BlackRock Inc. now owns 2,726,135 shares of the semiconductor company's stock valued at $127,692,000 after purchasing an additional 80,587 shares during the period. Vanguard Group Inc. increased its holdings in Daqo New Energy by 0.9% in the first quarter. Vanguard Group Inc. now owns 2,147,973 shares of the semiconductor company's stock valued at $88,753,000 after buying an additional 19,268 shares in the last quarter. Bank of America Corp DE increased its holdings in Daqo New Energy by 1,305.7% in the first quarter. Bank of America Corp DE now owns 1,981,937 shares of the semiconductor company's stock valued at $92,834,000 after buying an additional 1,840,945 shares in the last quarter. Finally, Morgan Stanley increased its holdings in Daqo New Energy by 189.4% in the fourth quarter. Morgan Stanley now owns 1,839,118 shares of the semiconductor company's stock valued at $71,008,000 after buying an additional 1,203,536 shares in the last quarter. Institutional investors and hedge funds own 47.22% of the company's stock.

About Daqo New Energy

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.