AI Squared Management Ltd Makes New Investment in Daqo New Energy Corp. (NYSE:DQ)

AI Squared Management Ltd bought a new position in shares of Daqo New Energy Corp. (NYSE:DQ) during the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm bought 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 investment portfolio, making the stock its 19th biggest position. AI Squared Management Ltd owned 0.12% of Daqo New Energy as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the business. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its holdings in Daqo New Energy by 32.2% in 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 valued at $2,765,000 after buying an additional 33,031 shares during the period. Public Employees Retirement System of Ohio bought a new position in shares of Daqo New Energy in the 3rd quarter valued at $1,053,000. Ariose Capital Management Ltd raised its holdings in shares of Daqo New Energy by 27.5% during the 4th quarter. Ariose Capital Management Ltd now owns 1,505,709 shares of the semiconductor company’s stock worth $29,271,000 after buying an additional 324,585 shares in the last quarter. BNP Paribas Financial Markets lifted its position in shares of Daqo New Energy by 57.5% during the 3rd quarter. BNP Paribas Financial Markets now owns 74,571 shares of the semiconductor company’s stock worth $1,519,000 after buying an additional 27,223 shares during the last quarter. Finally, Geode Capital Management LLC boosted its stake in Daqo New Energy by 9.2% in the third quarter. Geode Capital Management LLC now owns 33,546 shares of the semiconductor company’s stock valued at $683,000 after buying an additional 2,813 shares in the last quarter. 47.22% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

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

Daqo New Energy Price Performance

DQ opened at $18.06 on Tuesday. Daqo New Energy Corp. has a fifty-two week low of $13.62 and a fifty-two week high of $30.85. The company’s 50 day moving average price is $19.61 and its two-hundred day moving average price is $19.67. The firm has a market capitalization of $1.19 billion, a price-to-earnings ratio of -9.76 and a beta of 0.41.

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

Daqo New Energy Profile

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.