DAQO New Energy (NYSE:DQ) Hits New 52-Week Low - What's Next?

Key Points

• DAQO New Energy shares hit a new 52-week low, falling to $11.38 during Monday trading and closing near $11.49. The stock is below both its 50-day moving average of $12.94 and 200-day moving average of $16.98.
• Analyst sentiment is mostly bearish: four analysts rate the stock a Sell, one rates it Hold, and one rates it Buy. The average rating is “Reduce,” with an average price target of $15.83, while several firms have set targets at $10.
• The company reported a quarterly EPS loss of $1.20, missing the consensus loss estimate of $0.57, although revenue of $62.66 million exceeded expectations. DAQO also posted a negative net margin of 34.50%, and analysts expect a full-year loss of $1.96 per share.

DAQO New Energy Corp. (NYSE:DQ - Get Free Report)'s stock price reached a new 52-week low during mid-day trading on Monday . The stock traded as low as $11.38 and last traded at $11.4860, with a volume of 30916 shares traded. The stock had previously closed at $11.54.

Wall Street Analyst Weigh In

A number of research analysts have recently commented on the company. JPMorgan Chase & Co. lowered their price target on DAQO New Energy from $35.50 to $22.00 and set an "overweight" rating on the stock in a report on Friday, July 31st. New Street Research set a $10.00 target price on shares of DAQO New Energy in a research report on Monday, August 24th. The Goldman Sachs Group cut shares of DAQO New Energy from a "neutral" rating to a "sell" rating and set a $10.00 target price on the stock. in a research note on Monday, August 24th. Zacks Research cut shares of DAQO New Energy from a "hold" rating to a "strong sell" rating in a research note on Friday, August 7th. Finally, Weiss Ratings downgraded shares of DAQO New Energy from a "sell (d-)" rating to a "sell (e+)" rating in a research report on Friday, August 28th. One investment analyst has rated the stock with a Buy rating, one has given a Hold rating and four have assigned a Sell rating to the company's stock. Based on data from MarketBeat.com, the stock has an average rating of "Reduce" and an average price target of $15.83.

DAQO New Energy Trading Down 0.5%

The company has a market capitalization of $777.19 million, a price-to-earnings ratio of -4.04 and a beta of 0.67. The firm has a 50-day moving average price of $12.94 and a 200-day moving average price of $16.98.

DAQO New Energy (NYSE:DQ - Get Free Report) last posted its quarterly earnings data on Thursday, August 20th. The semiconductor company reported ($1.20) EPS for the quarter, missing analysts' consensus estimates of ($0.57) by ($0.63). The firm had revenue of $62.66 million during the quarter, compared to the consensus estimate of $52.93 million. DAQO New Energy had a negative return on equity of 3.26% and a negative net margin of 34.50%. Equities research analysts predict that DAQO New Energy Corp. will post -1.96 EPS for the current fiscal year.

Institutional Investors Weigh In On DAQO New Energy

A number of institutional investors and hedge funds have recently bought and sold shares of DQ. Quarry LP bought a new position in shares of DAQO New Energy during the 3rd quarter valued at about $26,000. Nykredit A S bought a new stake in shares of DAQO New Energy in the 2nd quarter worth approximately $28,000. Headlands Technologies LLC acquired a new stake in DAQO New Energy during the second quarter valued at approximately $29,000. Caitong International Asset Management Co. Ltd acquired a new stake in DAQO New Energy during the fourth quarter valued at approximately $49,000. Finally, Banque Cantonale Vaudoise boosted its holdings in DAQO New Energy by 37.5% during the first quarter. Banque Cantonale Vaudoise now owns 2,579 shares of the semiconductor company's stock worth $55,000 after buying an additional 703 shares in the last quarter. 47.22% of the stock is owned by institutional investors and hedge funds.

DAQO New Energy Company Profile

DA​​QO New Energy Corp. NYSE: DQ is a China-based manufacturer of high-purity polysilicon, a key raw material used to produce the wafers, cells and modules that make up solar photovoltaic panels. The company supplies polysilicon primarily to manufacturers in the global solar power industry.

Through its operating subsidiary, Xinjiang Daqo New Energy Co, Ltd., the company produces polysilicon at manufacturing facilities in China. Its products include polysilicon used in both monocrystalline and multicrystalline solar applications, with product specifications designed for use in advanced photovoltaic manufacturing.

Daqo New Energy was established in 2008 and began commercial polysilicon production in 2009.

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