Daqo New Energy (NYSE:DQ) Stock Price Down 5.2% – Here’s What Happened

Daqo New Energy Corp. (NYSE:DQ)’s share price fell 5.2% during trading on Wednesday . The company traded as low as $18.89 and last traded at $19.19. 181,647 shares changed hands during mid-day trading, a decline of 78% from the average session volume of 814,760 shares. The stock had previously closed at $20.24.

Wall Street Analysts Forecast Growth

Separately, StockNews.com raised Daqo New Energy to a “sell” rating in a research note on Monday. One investment analyst has rated the stock with a sell rating, one has assigned a hold rating, four have given a buy rating and three have issued a strong buy rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Buy” and an average price target of $22.26.

Daqo New Energy Stock Performance

The stock’s fifty day moving average is $19.84 and its two-hundred day moving average is $19.26. The company has a market cap of $1.28 billion, a price-to-earnings ratio of -10.48 and a beta of 0.25.

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

Institutional Trading of Daqo New Energy

Institutional investors have recently made changes to their positions in the company. Generali Investments CEE investicni spolecnost a.s. bought a new position in shares of Daqo New Energy during the fourth quarter valued at about $52,000. Daiwa Securities Group Inc. raised its position in Daqo New Energy by 15.4% in the third quarter. Daiwa Securities Group Inc. now owns 10,500 shares of the semiconductor company’s stock worth $214,000 after acquiring an additional 1,400 shares during the period. Point72 Asia Singapore Pte. Ltd. raised its holdings in shares of Daqo New Energy by 66.1% in the 3rd quarter. Point72 Asia Singapore Pte. Ltd. now owns 14,000 shares of the semiconductor company’s stock worth $285,000 after purchasing an additional 5,570 shares during the period. Diametric Capital LP lifted its position in shares of Daqo New Energy by 25.5% during the 4th quarter. Diametric Capital LP now owns 16,018 shares of the semiconductor company’s stock valued at $311,000 after buying an additional 3,255 shares during the last quarter. Finally, Van ECK Associates Corp grew its stake in shares of Daqo New Energy by 7.6% during the 4th quarter. Van ECK Associates Corp now owns 20,067 shares of the semiconductor company’s stock worth $390,000 after acquiring an additional 1,410 shares during the period. Institutional investors 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.