Polymer Capital Management US LLC Acquires Shares of 204,900 Daqo New Energy Corp. (NYSE:DQ)

Polymer Capital Management US LLC bought a new position in Daqo New Energy Corp. (NYSE:DQ) in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor bought 204,900 shares of the semiconductor company’s stock, valued at approximately $3,983,000. Daqo New Energy accounts for 1.1% of Polymer Capital Management US LLC’s holdings, making the stock its 23rd largest holding.

A number of other large investors have also modified their holdings of DQ. Greenwoods Asset Management Hong Kong Ltd. boosted its holdings in Daqo New Energy by 5,286.6% in the 4th quarter. Greenwoods Asset Management Hong Kong Ltd. now owns 2,714,780 shares of the semiconductor company’s stock worth $52,775,000 after acquiring an additional 2,664,381 shares during the period. Prudential PLC acquired a new position in shares of Daqo New Energy during the fourth quarter worth $14,775,000. Ariose Capital Management Ltd boosted its stake in shares of Daqo New Energy by 27.5% in the fourth quarter. Ariose Capital Management Ltd now owns 1,505,709 shares of the semiconductor company’s stock valued at $29,271,000 after purchasing an additional 324,585 shares during the period. Russell Investments Group Ltd. grew its stake in shares of Daqo New Energy by 64.3% during the fourth quarter. Russell Investments Group Ltd. now owns 295,514 shares of the semiconductor company’s stock valued at $5,745,000 after acquiring an additional 115,674 shares in the last quarter. Finally, AI Squared Management Ltd acquired a new stake in Daqo New Energy during the 4th quarter valued at approximately $1,499,000. Institutional investors and hedge funds own 47.22% of the company’s stock.

Wall Street Analyst Weigh In

Separately, StockNews.com raised Daqo New Energy to a “sell” rating in a report on Tuesday, March 18th. 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 given a strong buy rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Buy” and a consensus target price of $22.26.

Daqo New Energy Trading Down 6.6 %

Shares of NYSE:DQ opened at $15.52 on Monday. The firm’s 50 day moving average is $19.48 and its two-hundred day moving average is $19.81. The firm has a market capitalization of $1.02 billion, a P/E ratio of -8.39 and a beta of 0.37. Daqo New Energy Corp. has a 52 week low of $13.62 and a 52 week high of $30.85.

Daqo New Energy (NYSE:DQ) last announced 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 business had revenue of $195.36 million for 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 predict that Daqo New Energy Corp. will post -3.5 EPS for the current 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.