JPMorgan Chase & Co. Sells 99,265 Shares of Daqo New Energy Corp. (NYSE:DQ)

JPMorgan Chase & Co. trimmed its stake in Daqo New Energy Corp. (NYSE:DQ) by 53.3% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 87,067 shares of the semiconductor company’s stock after selling 99,265 shares during the period. JPMorgan Chase & Co. owned about 0.13% of Daqo New Energy worth $1,774,000 as of its most recent SEC filing.

Other large investors have also recently bought and sold shares of the company. Sylebra Capital LLC grew its position in Daqo New Energy by 103.9% in the second quarter. Sylebra Capital LLC now owns 943,692 shares of the semiconductor company’s stock valued at $13,778,000 after acquiring an additional 480,980 shares during the period. Marshall Wace LLP grew its position in Daqo New Energy by 112.3% in the second quarter. Marshall Wace LLP now owns 322,635 shares of the semiconductor company’s stock valued at $4,710,000 after acquiring an additional 170,660 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its position in Daqo New Energy by 32.2% in the third 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 acquiring an additional 33,031 shares during the period. Public Employees Retirement System of Ohio bought a new stake in shares of Daqo New Energy during the third quarter worth $1,053,000. Finally, BNP Paribas Financial Markets grew its holdings in shares of Daqo New Energy by 57.5% during the third quarter. BNP Paribas Financial Markets now owns 74,571 shares of the semiconductor company’s stock worth $1,519,000 after purchasing an additional 27,223 shares during the last quarter. 47.22% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

DQ has been the topic of several research analyst reports. Daiwa America upgraded Daqo New Energy from a “hold” rating to a “strong-buy” rating in a report on Wednesday, October 30th. Daiwa Capital Markets upgraded Daqo New Energy from a “neutral” rating to an “outperform” rating in a report on Wednesday, October 30th. HSBC raised Daqo New Energy from a “hold” rating to a “buy” rating in a research note on Wednesday, October 2nd. Finally, Hsbc Global Res raised Daqo New Energy from a “hold” rating to a “strong-buy” rating in a research note on Wednesday, October 2nd. One research analyst has rated the stock with a sell rating, one has assigned a hold rating, four have given a buy rating and three have issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Buy” and an average price target of $22.26.

Daqo New Energy Stock Down 3.9 %

NYSE:DQ opened at $17.49 on Thursday. The firm has a market capitalization of $1.15 billion, a price-to-earnings ratio of -9.45 and a beta of 0.26. Daqo New Energy Corp. has a twelve month low of $13.62 and a twelve month high of $30.85. The stock’s 50 day moving average price is $19.25 and its two-hundred day moving average price is $18.52.

Daqo New Energy (NYSE:DQ) last posted its quarterly earnings results on Wednesday, October 30th. The semiconductor company reported ($0.92) earnings per share for the quarter, missing the consensus estimate of ($0.80) by ($0.12). The company 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 period last year, the firm earned ($0.09) EPS. As a group, analysts anticipate that Daqo New Energy Corp. will post -3.5 earnings per share 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.