Daqo New Energy Corp. (NYSE:DQ) Shares Purchased by Geode Capital Management LLC

Geode Capital Management LLC boosted its holdings in shares of Daqo New Energy Corp. (NYSE:DQ) by 9.2% during the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 33,546 shares of the semiconductor company’s stock after buying an additional 2,813 shares during the quarter. Geode Capital Management LLC owned 0.05% of Daqo New Energy worth $683,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in DQ. Mackenzie Financial Corp raised its stake in shares of Daqo New Energy by 6.4% in the second quarter. Mackenzie Financial Corp now owns 2,496,997 shares of the semiconductor company’s stock valued at $36,456,000 after acquiring an additional 149,610 shares in the last quarter. Sylebra Capital LLC increased its holdings in Daqo New Energy by 103.9% during the 2nd quarter. Sylebra Capital LLC now owns 943,692 shares of the semiconductor company’s stock worth $13,778,000 after purchasing an additional 480,980 shares during the period. State Street Corp raised its position in Daqo New Energy by 1.1% in the 3rd 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 in the last quarter. Point72 Asset Management L.P. purchased a new position in shares of Daqo New Energy in the 2nd quarter valued at about $11,080,000. Finally, Marshall Wace LLP grew its position in shares of Daqo New Energy by 112.3% during the second quarter. Marshall Wace LLP now owns 322,635 shares of the semiconductor company’s stock worth $4,710,000 after buying an additional 170,660 shares in the last quarter. Hedge funds and other institutional investors own 47.22% of the company’s stock.

Wall Street Analyst Weigh In

DQ has been the topic of several analyst reports. Hsbc Global Res raised shares of Daqo New Energy from a “hold” rating to a “strong-buy” rating in a report on Wednesday, October 2nd. Daiwa America raised shares of Daqo New Energy from a “hold” rating to a “strong-buy” rating in a research report on Wednesday, October 30th. Daiwa Capital Markets raised shares of Daqo New Energy from a “neutral” rating to an “outperform” rating in a research report on Wednesday, October 30th. StockNews.com upgraded shares of Daqo New Energy to a “sell” rating in a research note on Monday, September 23rd. Finally, HSBC upgraded Daqo New Energy from a “hold” rating to a “buy” rating in a research note on Wednesday, October 2nd. One equities 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 assigned a strong buy rating to the stock. According to data from MarketBeat, Daqo New Energy presently has a consensus rating of “Buy” and a consensus price target of $22.26.

Daqo New Energy Price Performance

Shares of NYSE:DQ opened at $19.27 on Friday. 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 capitalization of $1.27 billion, a P/E ratio of -10.42 and a beta of 0.28. The company’s fifty day moving average price is $19.78 and its 200 day moving average price is $18.32.

Daqo New Energy (NYSE:DQ) last posted its earnings results on Wednesday, October 30th. The semiconductor company reported ($0.92) EPS for the quarter, missing analysts’ consensus estimates of ($0.80) by ($0.12). The firm had revenue of $198.50 million for the quarter, compared to analyst estimates 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 last year, the firm posted ($0.09) EPS. On average, sell-side analysts anticipate that Daqo New Energy Corp. will post -3.5 EPS for the current 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.