Daqo New Energy (DQ) Shares Down 10.6%

Shares of Daqo New Energy (NYSE:DQ) traded down 10.6% on Thursday . The stock traded as low as $52.55 and last traded at $52.97. 1,907,397 shares traded hands during trading, an increase of 337% from the average session volume of 436,490 shares. The stock had previously closed at $59.26.

Several analysts recently weighed in on the company. Zacks Investment Research downgraded Daqo New Energy from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, January 16th. Tudor Pickering downgraded Daqo New Energy from a “buy” rating to a “hold” rating in a research report on Monday, February 26th. Two analysts have rated the stock with a hold rating, two have given a buy rating and one has issued a strong buy rating to the stock. The stock presently has a consensus rating of “Buy” and a consensus price target of $64.50.

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The company has a quick ratio of 0.57, a current ratio of 0.66 and a debt-to-equity ratio of 0.29. The stock has a market cap of $557.15, a P/E ratio of 6.08, a PEG ratio of 1.04 and a beta of 1.97.

Daqo New Energy (NYSE:DQ) last posted its earnings results on Wednesday, February 28th. The semiconductor company reported $3.16 EPS for the quarter, beating the consensus estimate of $2.39 by $0.77. The firm had revenue of $103.68 million during the quarter, compared to the consensus estimate of $95.25 million. Daqo New Energy had a return on equity of 27.82% and a net margin of 26.31%. The business’s quarterly revenue was up 124.8% on a year-over-year basis. During the same period last year, the company earned $0.39 earnings per share. equities analysts expect that Daqo New Energy will post 7.26 EPS for the current fiscal year.

A number of institutional investors have recently bought and sold shares of DQ. Acadian Asset Management LLC raised its position in Daqo New Energy by 204.9% in the fourth quarter. Acadian Asset Management LLC now owns 395,275 shares of the semiconductor company’s stock valued at $23,494,000 after purchasing an additional 265,634 shares during the last quarter. Bogle Investment Management L P DE bought a new position in Daqo New Energy in the fourth quarter valued at about $14,529,000. Penserra Capital Management LLC bought a new position in Daqo New Energy in the fourth quarter valued at about $6,955,000. Millennium Management LLC bought a new position in Daqo New Energy in the fourth quarter valued at about $6,321,000. Finally, Renaissance Technologies LLC raised its position in Daqo New Energy by 51.7% in the fourth quarter. Renaissance Technologies LLC now owns 278,500 shares of the semiconductor company’s stock valued at $16,554,000 after purchasing an additional 94,900 shares during the last quarter. Hedge funds and other institutional investors own 27.63% of the company’s stock.

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Daqo New Energy Company Profile

Daqo New Energy Corp., together with its subsidiaries, manufactures and sells polysilicon and wafers in the People's Republic of China. It operates through two segments, Polysilicon and Wafers. The company offers polysilicon to photovoltaic product manufacturers who further process its polysilicon into ingots, wafers, cells, and modules for solar power solutions.

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