Daqo New Energy (NYSE:DQ) Stock Price Down 4.5%

Daqo New Energy Corp. (NYSE:DQ) traded down 4.5% during trading on Monday . The stock traded as low as $15.43 and last traded at $15.46. Approximately 55,556 shares changed hands during trading, a decline of 95% from the average session volume of 1,027,743 shares. The stock had previously closed at $16.19.

Wall Street Analyst Weigh In

DQ has been the subject of several recent analyst reports. HSBC raised shares of Daqo New Energy from a “reduce” rating to a “hold” rating and set a $15.00 price objective for the company in a research report on Tuesday, August 27th. Hsbc Global Res raised Daqo New Energy from a “moderate sell” rating to a “hold” rating in a report on Tuesday, August 27th. Roth Mkm lowered their price objective on Daqo New Energy from $23.00 to $15.00 and set a “neutral” rating for the company in a research report on Wednesday, August 28th. The Goldman Sachs Group initiated coverage on Daqo New Energy in a research report on Thursday, July 11th. They set a “buy” rating on the stock. Finally, Nomura Securities raised Daqo New Energy to a “strong-buy” rating in a report on Wednesday, August 28th. Two investment analysts have rated the stock with a sell rating, three have assigned a hold rating, two have given a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Hold” and an average price target of $22.26.

Daqo New Energy Price Performance

The business’s 50-day moving average price is $15.92 and its 200-day moving average price is $19.74. The firm has a market capitalization of $1.12 billion, a PE ratio of 8.00 and a beta of 0.30.

Daqo New Energy (NYSE:DQ) last posted its quarterly earnings data on Monday, August 26th. The semiconductor company reported ($1.81) EPS for the quarter, missing analysts’ consensus estimates of ($0.56) by ($1.25). Daqo New Energy had a negative net margin of 4.11% and a negative return on equity of 1.04%. The business had revenue of $219.91 million during the quarter, compared to analyst estimates of $406.50 million. During the same quarter in the prior year, the firm posted $1.34 earnings per share. Equities analysts forecast that Daqo New Energy Corp. will post -3.35 earnings per share for the current year.

Daqo New Energy announced that its board has authorized a share repurchase program on Monday, July 22nd that authorizes the company to buyback $100.00 million in shares. This buyback authorization authorizes the semiconductor company to purchase up to 8.6% of its shares through open market purchases. Shares buyback programs are generally a sign that the company’s management believes its shares are undervalued.

Institutional Inflows and Outflows

A number of institutional investors have recently modified their holdings of DQ. PNC Financial Services Group Inc. boosted its holdings in shares of Daqo New Energy by 117.5% in the fourth quarter. PNC Financial Services Group Inc. now owns 1,588 shares of the semiconductor company’s stock valued at $42,000 after acquiring an additional 858 shares in the last quarter. Blue Trust Inc. lifted its position in Daqo New Energy by 12,187.5% in the second quarter. Blue Trust Inc. now owns 1,966 shares of the semiconductor company’s stock valued at $29,000 after purchasing an additional 1,950 shares during the period. Quadrant Capital Group LLC boosted its holdings in Daqo New Energy by 39.4% in 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. AXA S.A. increased its position in Daqo New Energy by 202.3% during the 2nd quarter. AXA S.A. now owns 6,387 shares of the semiconductor company’s stock worth $93,000 after purchasing an additional 4,274 shares during the period. Finally, Rhumbline Advisers raised its stake in shares of Daqo New Energy by 22.2% during the 2nd quarter. Rhumbline Advisers now owns 8,104 shares of the semiconductor company’s stock worth $118,000 after buying an additional 1,470 shares in the last quarter. Institutional investors and hedge funds 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.