Daqo New Energy (NYSE:DQ) Shares Gap Down – Should You Sell?

Daqo New Energy Corp. (NYSE:DQ)’s share price gapped down before the market opened on Tuesday . The stock had previously closed at $19.07, but opened at $18.24. Daqo New Energy shares last traded at $17.62, with a volume of 319,936 shares traded.

Analyst Upgrades and Downgrades

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

Daqo New Energy Trading Down 6.4 %

The firm’s fifty day moving average price is $19.38 and its 200-day moving average price is $18.51. The company has a market cap of $1.18 billion, a P/E ratio of -9.64 and a beta of 0.26.

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

Hedge Funds Weigh In On Daqo New Energy

Hedge funds and other institutional investors have recently modified their holdings of the stock. Signaturefd LLC increased its holdings in shares of Daqo New Energy by 27.3% during the third quarter. Signaturefd LLC now owns 2,809 shares of the semiconductor company’s stock worth $57,000 after buying an additional 602 shares in the last quarter. Blue Trust Inc. lifted its holdings in Daqo New Energy by 132.3% in the third quarter. Blue Trust Inc. now owns 4,567 shares of the semiconductor company’s stock valued at $93,000 after buying an additional 2,601 shares during the period. AXA S.A. lifted its stake in Daqo New Energy by 202.3% in the second quarter. AXA S.A. now owns 6,387 shares of the semiconductor company’s stock valued at $93,000 after buying an additional 4,274 shares during the period. Rhumbline Advisers boosted its holdings in Daqo New Energy by 22.2% during the second quarter. Rhumbline Advisers now owns 8,104 shares of the semiconductor company’s stock worth $118,000 after buying an additional 1,470 shares during the last quarter. Finally, Daiwa Securities Group Inc. grew its position in shares of Daqo New Energy by 15.4% during the 3rd quarter. Daiwa Securities Group Inc. now owns 10,500 shares of the semiconductor company’s stock worth $214,000 after buying an additional 1,400 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.