Daqo New Energy Drops 16.21% to 2016 Low on Earnings Loss

Daqo New Energy (DQ) experienced a significant decline, with its share price falling to its lowest level since January 2016 today, marking an intraday drop of 16.21%.

Daqo New Energy's stock price has been influenced by several recent developments. The company reported a quarterly loss of $1.07 per share, exceeding the Zacks Consensus Estimate of $1.02, resulting in a total loss of $71.8 million for the first quarter. This financial performance has raised concerns among investors about the company's profitability and future prospects.

Adding to the challenges, Daqo New Energy's stock faced a significant decline, dropping by 14.11% to $12.72. The company's outlook has become increasingly uncertain, leading to a reduced price target. On April 15, 2025, The Goldman Sachs Group downgraded the stock from "Buy" to "Neutral," accompanied by a lower price target of $17.00. This downgrade reflects the market's pessimistic sentiment towards the company's near-term performance and strategic direction.