77,100 Shares in Daqo New Energy Corp. (NYSE:DQ) Acquired by AI Squared Management Ltd

AI Squared Management Ltd acquired a new stake in Daqo New Energy Corp. (NYSE:DQ) in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm acquired 77,100 shares of the semiconductor company’s stock, valued at approximately $1,499,000. Daqo New Energy accounts for about 1.5% of AI Squared Management Ltd’s portfolio, making the stock its 19th largest holding.

A number of other institutional investors also recently modified their holdings of DQ. Daiwa Securities Group Inc. lifted its position in shares of Daqo New Energy by 15.4% during the 3rd quarter. Daiwa Securities Group Inc. now owns 10,500 shares of the semiconductor company’s stock worth $214,000 after buying an additional 1,400 shares in the last quarter. BNP Paribas Financial Markets raised its position in Daqo New Energy by 57.5% in the third quarter. BNP Paribas Financial Markets now owns 74,571 shares of the semiconductor company’s stock worth $1,519,000 after acquiring an additional 27,223 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its stake in shares of Daqo New Energy by 32.2% during the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 135,732 shares of the semiconductor company’s stock worth $2,765,000 after purchasing an additional 33,031 shares during the last quarter. Point72 Asia Singapore Pte. Ltd. raised its holdings in shares of Daqo New Energy by 66.1% in the 3rd quarter. Point72 Asia Singapore Pte. Ltd. now owns 14,000 shares of the semiconductor company’s stock worth $285,000 after purchasing an additional 5,570 shares during the period. Finally, State Street Corp raised its holdings in shares of Daqo New Energy by 1.1% in the 3rd quarter. State Street Corp now owns 842,921 shares of the semiconductor company’s stock worth $17,170,000 after purchasing an additional 8,983 shares during the period. 47.22% of the stock is owned by institutional investors and hedge funds.

Daqo New Energy Stock Down 6.3 %

NYSE DQ opened at $18.06 on Tuesday. The company’s 50 day moving average is $19.61 and its 200-day moving average is $19.67. The firm has a market cap of $1.19 billion, a P/E ratio of -9.76 and a beta of 0.41. Daqo New Energy Corp. has a 12-month low of $13.62 and a 12-month high of $30.85.

Daqo New Energy (NYSE:DQ) last posted its earnings results on Thursday, February 27th. The semiconductor company reported ($2.71) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.69) by ($2.02). The company had revenue of $195.36 million for the quarter, compared to analysts’ expectations of $153.54 million. Daqo New Energy had a negative return on equity of 1.90% and a negative net margin of 9.16%. Equities analysts expect that Daqo New Energy Corp. will post -3.5 EPS for the current year.

Wall Street Analysts Forecast Growth

Separately, StockNews.com raised Daqo New Energy to a “sell” rating in a research report on Tuesday, March 18th. One equities research analyst has rated the stock with a sell rating, one has given a hold rating, four have given a buy rating and three have issued a strong buy rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of “Buy” and a consensus target price of $22.26.

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.