Daqo New Energy (NYSE:DQ) Sets New 1-Year Low at $30.86

Posted by Defense World Staff on Sep 21st, 2023

Daqo New Energy Corp. (NYSE:DQ – Get Free Report)’s share price hit a new 52-week low during mid-day trading on Tuesday . The company traded as low as $30.86 and last traded at $31.20, with a volume of 96816 shares. The stock had previously closed at $31.62.

Analyst Ratings Changes

DQ has been the subject of a number of recent research reports. StockNews.com initiated coverage on shares of Daqo New Energy in a research note on Thursday, August 17th. They issued a “hold” rating for the company. Nomura upgraded shares of Daqo New Energy from a “neutral” rating to a “buy” rating and set a $45.00 price target for the company in a research note on Friday, August 4th. HSBC reduced their price objective on shares of Daqo New Energy from $42.80 to $38.70 and set a “hold” rating for the company in a research report on Friday, August 4th. Daiwa Capital Markets downgraded shares of Daqo New Energy from an “outperform” rating to a “neutral” rating and reduced their price objective for the stock from $45.00 to $32.00 in a research report on Tuesday. Finally, TheStreet downgraded shares of Daqo New Energy from a “b-” rating to a “c+” rating in a research report on Monday, June 26th. Four investment analysts have rated the stock with a hold rating and one has issued a buy rating to the company’s stock. According to MarketBeat, Daqo New Energy has a consensus rating of “Hold” and a consensus target price of $46.43.

Read Our Latest Report on Daqo New Energy

Daqo New Energy Stock Performance

The stock has a market cap of $2.33 billion, a PE ratio of 2.20 and a beta of 0.54. The firm’s 50-day moving average is $35.96 and its 200 day moving average is $40.64.

Daqo New Energy (NYSE:DQ – Get Free Report) last announced its quarterly earnings data on Thursday, August 3rd. The semiconductor company reported $1.34 earnings per share (EPS) for the quarter, missing the consensus estimate of $5.79 by ($4.45). The firm had revenue of $636.72 million during the quarter, compared to analyst estimates of $1.22 billion. Daqo New Energy had a net margin of 31.45% and a return on equity of 16.65%. On average, sell-side analysts predict that Daqo New Energy Corp. will post 9.29 EPS for the current fiscal year.

Hedge Funds Weigh In On Daqo New Energy

Institutional investors have recently bought and sold shares of the company. Migdal Insurance & Financial Holdings Ltd. grew its stake in shares of Daqo New Energy by 110.1% during the 1st quarter. Migdal Insurance & Financial Holdings Ltd. now owns 4,676 shares of the semiconductor company’s stock worth $218,000 after purchasing an additional 2,450 shares during the period. Banque Cantonale Vaudoise grew its stake in shares of Daqo New Energy by 5.6% during the 1st quarter. Banque Cantonale Vaudoise now owns 9,676 shares of the semiconductor company’s stock worth $453,000 after purchasing an additional 516 shares during the period. SG Americas Securities LLC grew its stake in shares of Daqo New Energy by 72.7% during the 2nd quarter. SG Americas Securities LLC now owns 75,701 shares of the semiconductor company’s stock worth $3,005,000 after purchasing an additional 31,879 shares during the period. Private Wealth Partners LLC acquired a new position in shares of Daqo New Energy during the 1st quarter worth $224,000. Finally, Psagot Value Holdings Ltd. Israel acquired a new position in shares of Daqo New Energy during the 1st quarter worth $227,000. 57.38% of the stock is owned by institutional investors and hedge funds.

About Daqo New Energy

(Get Free Report)

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.