Daqo New Energy (NYSE:DQ) Sets New 52-Week Low at $14.43

Daqo New Energy Corp. (NYSE:DQ)’s stock price reached a new 52-week low during mid-day trading on Monday . The stock traded as low as $14.43 and last traded at $14.43, with a volume of 54954 shares traded. The stock had previously closed at $14.60.

Wall Street Analyst Weigh In

Several analysts recently issued reports on the company. Roth Mkm reiterated a “neutral” rating and set a $23.00 target price on shares of Daqo New Energy in a research report on Tuesday, April 30th. HSBC restated a “reduce” rating and set a $17.50 price target (down previously from $23.50) on shares of Daqo New Energy in a report on Monday, May 6th. Finally, Daiwa Capital Markets restated an “underperform” rating and set a $25.00 price target on shares of Daqo New Energy in a report on Friday, March 15th. Two equities research analysts have rated the stock with a sell rating, two have given a hold rating and one has issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Hold” and an average price target of $27.63.

Daqo New Energy Stock Performance

The stock has a market cap of $967.71 million, a PE ratio of 6.88 and a beta of 0.28. The stock has a fifty day moving average price of $19.44 and a 200 day moving average price of $21.86.

Daqo New Energy (NYSE:DQ) last announced its earnings results on Monday, April 29th. The semiconductor company reported $0.24 EPS for the quarter, missing analysts’ consensus estimates of $0.56 by ($0.32). The company had revenue of $415.31 million during the quarter, compared to analysts’ expectations of $491.90 million. Daqo New Energy had a return on equity of 2.46% and a net margin of 7.84%. During the same quarter last year, the firm posted $3.52 EPS. As a group, equities analysts anticipate that Daqo New Energy Corp. will post 0.98 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Daqo New Energy

Institutional investors and hedge funds have recently modified their holdings of the stock. PNC Financial Services Group Inc. raised its position in Daqo New Energy by 117.5% during the 4th quarter. PNC Financial Services Group Inc. now owns 1,588 shares of the semiconductor company’s stock valued at $42,000 after purchasing an additional 858 shares in the last quarter. Quadrant Capital Group LLC raised its position in Daqo New Energy by 39.4% during the 4th quarter. Quadrant Capital Group LLC now owns 2,348 shares of the semiconductor company’s stock valued at $62,000 after purchasing an additional 664 shares in the last quarter. Signaturefd LLC raised its position in Daqo New Energy by 112.4% during the 4th quarter. Signaturefd LLC now owns 6,839 shares of the semiconductor company’s stock valued at $182,000 after purchasing an additional 3,619 shares in the last quarter. Daiwa Securities Group Inc. bought a new stake in Daqo New Energy during the 1st quarter valued at $256,000. Finally, Capstone Investment Advisors LLC bought a new stake in Daqo New Energy during the 1st quarter valued at $264,000. Hedge funds and other 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.