Banque Cantonale Vaudoise Lowers Position in Daqo New Energy Corp. (NYSE:DQ)

Banque Cantonale Vaudoise decreased its holdings in shares of Daqo New Energy Corp. (NYSE:DQ) by 56.9% during the third quarter, HoldingsChannel reports. The firm owned 1,364 shares of the semiconductor company’s stock after selling 1,800 shares during the period. Banque Cantonale Vaudoise’s holdings in Daqo New Energy were worth $28,000 as of its most recent SEC filing.

Other large investors have also modified their holdings of the company. Mackenzie Financial Corp raised its position in shares of Daqo New Energy by 6.4% in the 2nd quarter. Mackenzie Financial Corp now owns 2,496,997 shares of the semiconductor company’s stock worth $36,456,000 after acquiring an additional 149,610 shares in the last quarter. Ariose Capital Management Ltd grew its stake in Daqo New Energy by 23.9% in the second quarter. Ariose Capital Management Ltd now owns 1,181,124 shares of the semiconductor company’s stock valued at $17,244,000 after purchasing an additional 228,200 shares during the last quarter. Sylebra Capital LLC raised its holdings 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 worth $13,778,000 after purchasing an additional 480,980 shares in the last quarter. Point72 Asset Management L.P. purchased a new stake in shares of Daqo New Energy during the second quarter valued at about $11,080,000. Finally, Marshall Wace LLP boosted its holdings in shares of Daqo New Energy by 112.3% in the 2nd quarter. Marshall Wace LLP now owns 322,635 shares of the semiconductor company’s stock valued at $4,710,000 after buying an additional 170,660 shares in the last quarter. Institutional investors own 47.22% of the company’s stock.

Wall Street Analyst Weigh In

Several research analysts recently commented on the stock. Nomura Securities upgraded shares of Daqo New Energy to a “strong-buy” rating in a research note on Wednesday, August 28th. Daiwa America upgraded Daqo New Energy from a “hold” rating to a “strong-buy” rating in a report on Wednesday, October 30th. Roth Mkm reduced their target price on Daqo New Energy from $23.00 to $15.00 and set a “neutral” rating on the stock in a research report on Wednesday, August 28th. Jefferies Financial Group lowered their price target on Daqo New Energy from $38.40 to $34.05 and set a “buy” rating for the company in a report on Monday, August 26th. Finally, HSBC upgraded shares of Daqo New Energy from a “hold” rating to a “buy” rating in a report on Wednesday, October 2nd. One 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 company. Based on data from MarketBeat, Daqo New Energy has an average rating of “Buy” and an average price target of $22.26.

Daqo New Energy Stock Down 2.1 %

Shares of NYSE:DQ opened at $18.80 on Friday. Daqo New Energy Corp. has a 52-week low of $13.62 and a 52-week high of $30.85. The stock has a market cap of $1.24 billion, a price-to-earnings ratio of -10.16 and a beta of 0.32. The business has a 50-day moving average price of $20.49 and a 200-day moving average price of $18.41.

Daqo New Energy (NYSE:DQ) last announced its quarterly earnings data on Wednesday, October 30th. The semiconductor company reported ($0.92) EPS for the quarter, missing the consensus estimate of ($0.80) by ($0.12). The business had revenue of $198.50 million for the quarter, compared to analyst estimates of $186.90 million. Daqo New Energy had a negative net margin of 9.16% and a negative return on equity of 1.90%. During the same quarter in the previous year, the firm posted ($0.09) earnings per share. As a group, equities analysts anticipate that Daqo New Energy Corp. will post -3.5 EPS for the current fiscal 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.