DAQO New Energy (NYSE:DQ) Reaches New 52-Week Low – Here’s Why

DAQO New Energy Corp. (NYSE:DQ)’s share price reached a new 52-week low during mid-day trading on Friday . The company traded as low as $11.54 and last traded at $11.6060, with a volume of 125501 shares traded. The stock had previously closed at $11.91.

Analyst Upgrades and Downgrades

A number of equities analysts have recently issued reports on DQ shares. Zacks Research raised shares of DAQO New Energy from a “strong sell” rating to a “hold” rating in a research report on Monday, June 29th. Roth Capital set a $19.00 price target on shares of DAQO New Energy in a research report on Thursday, April 30th. Weiss Ratings downgraded shares of DAQO New Energy from a “sell (d-)” rating to a “sell (e+)” rating in a research report on Friday. Finally, Wall Street Zen lowered shares of DAQO New Energy from a “hold” rating to a “strong sell” rating in a research note on Saturday, May 2nd. One analyst has rated the stock with a Strong Buy rating, one has given a Buy rating, three have given a Hold rating and two have given a Sell rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Hold” and a consensus price target of $23.59.

DAQO New Energy Stock Performance

The stock has a market cap of $783.42 million, a P/E ratio of -4.16 and a beta of 0.65. The company’s 50 day moving average price is $14.32 and its 200-day moving average price is $20.01.

DAQO New Energy (NYSE:DQ) last announced its earnings results on Wednesday, April 29th. The semiconductor company reported ($1.31) EPS for the quarter, missing the consensus estimate of ($0.13) by ($1.18). DAQO New Energy had a negative net margin of 32.92% and a negative return on equity of 3.19%. The firm had revenue of $26.72 million during the quarter, compared to analysts’ expectations of $186.28 million. On average, analysts forecast that DAQO New Energy Corp. will post -1.31 earnings per share for the current fiscal year.

Institutional Investors Weigh In On DAQO New Energy

Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. Quarry LP purchased a new position in shares of DAQO New Energy in the 3rd quarter worth approximately $26,000. Headlands Technologies LLC bought a new position in shares of DAQO New Energy in the second quarter valued at approximately $29,000. Farther Finance Advisors LLC grew its holdings in shares of DAQO New Energy by 1,650.0% in the fourth quarter. Farther Finance Advisors LLC now owns 1,330 shares of the semiconductor company’s stock valued at $39,000 after acquiring an additional 1,254 shares in the last quarter. Caitong International Asset Management Co. Ltd purchased a new stake in shares of DAQO New Energy during the fourth quarter valued at approximately $49,000. Finally, Banque Cantonale Vaudoise purchased a new stake in shares of DAQO New Energy during the fourth quarter valued at approximately $55,000. Hedge funds and other institutional investors own 47.22% of the company’s stock.

DAQO New Energy Company Profile

DAQO New Energy Corp. operates as a leading manufacturer of high-purity polysilicon and monocrystalline silicon wafers for the global solar photovoltaic industry. The company focuses on serving module makers and integrated solar producers with critical upstream materials, applying proprietary technologies and optimized processes to achieve high product purity and consistently low production costs. Its core offerings include solar-grade polysilicon—used in the ingot casting and wafer slicing stages—and premium mono-silicon wafers, which are a key input for high-efficiency solar cell production.

Founded in the late 2000s and listed on the New York Stock Exchange in 2010, DAQO New Energy established its first polysilicon facility in China’s Xinjiang Uygur Autonomous Region.