Point72 Asset Management L.P. Trims Stock Holdings in Daqo New Energy Corp. (NYSE:DQ)

Point72 Asset Management L.P. decreased its stake in Daqo New Energy Corp. (NYSE:DQ) by 30.3% in the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 529,195 shares of the semiconductor company’s stock after selling 229,741 shares during the quarter. Point72 Asset Management L.P. owned approximately 0.80% of Daqo New Energy worth $10,780,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also bought and sold shares of the stock. Blue Trust Inc. grew its position in shares of Daqo New Energy by 12,187.5% during the second quarter. Blue Trust Inc. now owns 1,966 shares of the semiconductor company’s stock worth $29,000 after purchasing an additional 1,950 shares in the last quarter. Signaturefd LLC grew its position in shares of Daqo New Energy by 27.3% during the third quarter. Signaturefd LLC now owns 2,809 shares of the semiconductor company’s stock worth $57,000 after purchasing an additional 602 shares in the last quarter. AXA S.A. grew its position in shares of Daqo New Energy by 202.3% during the second 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 in the last quarter. Rhumbline Advisers grew its position in shares of Daqo New Energy by 22.2% during the second quarter. Rhumbline Advisers now owns 8,104 shares of the semiconductor company’s stock worth $118,000 after purchasing an additional 1,470 shares in the last quarter. Finally, Harel Insurance Investments & Financial Services Ltd. grew its position in shares of Daqo New Energy by 37.9% during the second quarter. Harel Insurance Investments & Financial Services Ltd. now owns 14,442 shares of the semiconductor company’s stock worth $211,000 after purchasing an additional 3,970 shares in the last quarter. Hedge funds and other institutional investors own 47.22% of the company’s stock.

Wall Street Analyst Weigh In

Several analysts recently issued reports on the company. HSBC upgraded Daqo New Energy from a “hold” rating to a “buy” rating in a research report on Wednesday, October 2nd. Roth Mkm cut their target price 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. Nomura Securities upgraded Daqo New Energy to a “strong-buy” rating in a research report on Wednesday, August 28th. Daiwa America raised Daqo New Energy from a “hold” rating to a “strong-buy” rating in a research note on Wednesday, October 30th. Finally, StockNews.com raised Daqo New Energy to a “sell” rating in a research note on Monday, September 23rd. One research analyst has rated the stock with a sell rating, one has issued a hold rating, four have assigned a buy rating and three have given a strong buy rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Buy” and an average target price of $22.26.

Daqo New Energy Trading Down 7.9 %

Shares of Daqo New Energy stock opened at $18.08 on Friday. The stock has a 50 day moving average of $21.06 and a 200 day moving average of $18.49. Daqo New Energy Corp. has a 12 month low of $13.62 and a 12 month high of $30.85. The firm has a market cap of $1.19 billion, a PE ratio of -9.77 and a beta of 0.28.

Daqo New Energy (NYSE:DQ) last posted its quarterly earnings data on Wednesday, October 30th. The semiconductor company reported ($0.92) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.80) by ($0.12). The company had revenue of $198.50 million during the quarter, compared to the consensus estimate of $186.90 million. Daqo New Energy had a negative net margin of 9.16% and a negative return on equity of 1.90%. During the same period in the previous year, the business earned ($0.09) earnings per share. As a group, equities research analysts forecast that Daqo New Energy Corp. will post -3.5 earnings per share for the current fiscal year.

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.