Daqo New Energy (NYSE:DQ) Shares Gap Down – Time to Sell?

Daqo New Energy Corp. (NYSE:DQ)’s share price gapped down prior to trading on Friday . The stock had previously closed at $20.24, but opened at $19.59. Daqo New Energy shares last traded at $20.08, with a volume of 170,632 shares changing hands.

Analyst Upgrades and Downgrades

Several research firms have recently commented on DQ. Daiwa America raised shares of Daqo New Energy from a “hold” rating to a “strong-buy” rating in a research report on Wednesday, October 30th. HSBC raised Daqo New Energy from a “hold” rating to a “buy” rating in a research note on Wednesday, October 2nd. StockNews.com raised Daqo New Energy to a “sell” rating in a research report on Monday, September 23rd. Daiwa Capital Markets raised Daqo New Energy from a “neutral” rating to an “outperform” rating in a research report on Wednesday, October 30th. Finally, Hsbc Global Res raised shares of Daqo New Energy from a “hold” rating to a “strong-buy” rating in a report on Wednesday, October 2nd. One investment analyst has rated the stock with a sell rating, one has assigned a hold rating, four have assigned a buy rating and three have assigned a strong buy rating to the company. According to MarketBeat, the company presently has an average rating of “Buy” and an average target price of $22.26.

Daqo New Energy Stock Up 3.0 %

The firm has a market capitalization of $1.38 billion, a PE ratio of -11.27 and a beta of 0.28. The stock has a 50-day simple moving average of $20.11 and a 200-day simple moving average of $18.20.

Daqo New Energy (NYSE:DQ) last announced its quarterly earnings data on Wednesday, October 30th. The semiconductor company reported ($0.92) earnings per share for the quarter, missing the consensus estimate of ($0.80) by ($0.12). The firm had revenue of $198.50 million during the quarter, compared to analysts’ expectations of $186.90 million. Daqo New Energy had a negative return on equity of 1.90% and a negative net margin of 9.16%. During the same period last year, the business posted ($0.09) EPS. Equities analysts forecast that Daqo New Energy Corp. will post -3.5 earnings per share for the current fiscal year.

Institutional Trading of Daqo New Energy

A number of hedge funds and other institutional investors have recently made changes to their positions in DQ. Point72 Asset Management L.P. purchased a new position in Daqo New Energy during the 2nd quarter valued at about $11,080,000. Sylebra Capital LLC grew its stake in Daqo New Energy by 103.9% during the second quarter. Sylebra Capital LLC now owns 943,692 shares of the semiconductor company’s stock valued at $13,778,000 after acquiring an additional 480,980 shares in the last quarter. Marshall Wace LLP increased its holdings in Daqo New Energy by 112.3% during the 2nd quarter. Marshall Wace LLP now owns 322,635 shares of the semiconductor company’s stock worth $4,710,000 after acquiring an additional 170,660 shares during the period. Mackenzie Financial Corp lifted its stake in Daqo New Energy by 6.4% in the 2nd quarter. Mackenzie Financial Corp now owns 2,496,997 shares of the semiconductor company’s stock worth $36,456,000 after purchasing an additional 149,610 shares in the last quarter. Finally, Wexford Capital LP boosted its holdings in Daqo New Energy by 395.7% in the 3rd quarter. Wexford Capital LP now owns 164,809 shares of the semiconductor company’s stock valued at $3,357,000 after purchasing an additional 131,564 shares during the period. 47.22% of the stock is currently owned by institutional investors.

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.