Rhumbline Advisers Sells 676 Shares of Daqo New Energy Corp. (NYSE:DQ)

Rhumbline Advisers decreased its position in shares of Daqo New Energy Corp. (NYSE:DQ) by 32.8% in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 1,383 shares of the semiconductor company’s stock after selling 676 shares during the quarter. Rhumbline Advisers’ holdings in Daqo New Energy were worth $27,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also bought and sold shares of the company. Daiwa Securities Group Inc. raised its stake in Daqo New Energy by 15.4% during the third quarter. Daiwa Securities Group Inc. now owns 10,500 shares of the semiconductor company’s stock worth $214,000 after acquiring an additional 1,400 shares in the last quarter. Point72 Asia Singapore Pte. Ltd. raised its stake in 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 worth $285,000 after acquiring an additional 5,570 shares in the last quarter. Van ECK Associates Corp raised its stake in Daqo New Energy by 7.6% during the fourth quarter. Van ECK Associates Corp now owns 20,067 shares of the semiconductor company’s stock worth $390,000 after acquiring an additional 1,410 shares in the last quarter. KBC Group NV raised its stake in Daqo New Energy by 12.9% during the third quarter. KBC Group NV now owns 25,244 shares of the semiconductor company’s stock worth $514,000 after acquiring an additional 2,877 shares in the last quarter. Finally, Geode Capital Management LLC raised its stake in Daqo New Energy by 9.2% during the third quarter. Geode Capital Management LLC now owns 33,546 shares of the semiconductor company’s stock worth $683,000 after acquiring an additional 2,813 shares in the last quarter. Institutional investors own 47.22% of the company’s stock.

Wall Street Analysts Forecast Growth

Separately, StockNews.com raised Daqo New Energy to a “sell” rating in a research note on Monday, March 3rd. One equities research analyst has rated the stock with a sell rating, one has issued a hold rating, four have issued a buy rating and three have assigned a strong buy rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Buy” and an average price target of $22.26.

Daqo New Energy Stock Performance

Shares of NYSE DQ opened at $18.53 on Wednesday. The company has a market capitalization of $1.22 billion, a P/E ratio of -10.01 and a beta of 0.41. Daqo New Energy Corp. has a 52-week low of $13.62 and a 52-week high of $30.85. The company’s 50 day moving average price is $19.79 and its 200-day moving average price is $19.38.

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

Daqo New Energy Company 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.