Barclays PLC Lowers Stock Holdings in Daqo New Energy Corp. (NYSE:DQ)

Barclays PLC trimmed its stake in shares of Daqo New Energy Corp. (NYSE:DQ) by 86.0% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 11,740 shares of the semiconductor company’s stock after selling 72,268 shares during the quarter. Barclays PLC’s holdings in Daqo New Energy were worth $239,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors have also recently made changes to their positions in the company. Public Employees Retirement System of Ohio bought a new stake in shares of Daqo New Energy in the 3rd quarter worth approximately $1,053,000. Wellington Management Group LLP grew its position in shares of Daqo New Energy by 26.0% in the 3rd quarter. Wellington Management Group LLP now owns 128,422 shares of the semiconductor company’s stock worth $2,616,000 after buying an additional 26,462 shares during the period. Wexford Capital LP increased its stake in shares of Daqo New Energy by 395.7% in the 3rd quarter. Wexford Capital LP now owns 164,809 shares of the semiconductor company’s stock worth $3,357,000 after acquiring an additional 131,564 shares in the last quarter. State Street Corp lifted its holdings in shares of Daqo New Energy by 1.1% during the third quarter. State Street Corp now owns 842,921 shares of the semiconductor company’s stock valued at $17,170,000 after purchasing an additional 8,983 shares during the last quarter. Finally, Point72 Asia Singapore Pte. Ltd. increased its holdings in shares of Daqo New Energy by 66.1% during the third quarter. Point72 Asia Singapore Pte. Ltd. now owns 14,000 shares of the semiconductor company’s stock valued at $285,000 after acquiring an additional 5,570 shares in the last quarter. Hedge funds and other institutional investors own 47.22% of the company’s stock.

Analyst Ratings Changes

A number of analysts have commented on DQ shares. Hsbc Global Res raised Daqo New Energy from a “hold” rating to a “strong-buy” rating in a report on Wednesday, October 2nd. Daiwa Capital Markets upgraded shares of Daqo New Energy from a “neutral” rating to an “outperform” rating in a research report on Wednesday, October 30th. Daiwa America upgraded Daqo New Energy from a “hold” rating to a “strong-buy” rating in a research report on Wednesday, October 30th. StockNews.com raised shares of Daqo New Energy to a “sell” rating in a report on Monday, September 23rd. Finally, HSBC raised Daqo New Energy from a “hold” rating to a “buy” rating in a report on Wednesday, October 2nd. One equities research analyst has rated the stock with a sell rating, one has issued a hold rating, four have given a buy rating and three have assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Buy” and an average price target of $22.26.

Daqo New Energy Stock Performance

Shares of Daqo New Energy stock opened at $20.85 on Monday. Daqo New Energy Corp. has a one year low of $13.62 and a one year high of $30.85. The stock has a market cap of $1.38 billion, a price-to-earnings ratio of -11.27 and a beta of 0.28. The stock has a 50 day moving average price of $20.11 and a 200-day moving average price of $18.20.

Daqo New Energy (NYSE:DQ) last released its earnings results on Wednesday, October 30th. The semiconductor company reported ($0.92) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.80) by ($0.12). The business had revenue of $198.50 million during the quarter, compared to analysts’ expectations of $186.90 million. Daqo New Energy had a negative return on equity of 1.90% and a negative net margin of 9.16%. During the same quarter in the previous year, the business earned ($0.09) EPS. Sell-side analysts predict 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.