BIT Capital GmbH Sells 353,465 Shares of Daqo New Energy Corp. (NYSE:DQ)

BIT Capital GmbH lowered its position in Daqo New Energy Corp. (NYSE:DQ) by 45.5% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 423,282 shares of the semiconductor company’s stock after selling 353,465 shares during the period. Daqo New Energy comprises about 0.7% of BIT Capital GmbH’s investment portfolio, making the stock its 24th biggest holding. BIT Capital GmbH owned 0.64% of Daqo New Energy worth $8,229,000 at the end of the most recent reporting period.

A number of other hedge funds also recently bought and sold shares of DQ. Daiwa Securities Group Inc. raised its position in Daqo New Energy by 15.4% in 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 during the period. Van ECK Associates Corp increased its stake in shares of Daqo New Energy by 7.6% in the 4th quarter. Van ECK Associates Corp now owns 20,067 shares of the semiconductor company’s stock worth $390,000 after purchasing an additional 1,410 shares in the last quarter. Generali Investments CEE investicni spolecnost a.s. bought a new position in Daqo New Energy in the 4th quarter worth $52,000. Geode Capital Management LLC lifted its position 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 valued at $683,000 after purchasing an additional 2,813 shares in the last quarter. Finally, Point72 Asia Singapore Pte. Ltd. lifted its position 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 valued at $285,000 after purchasing an additional 5,570 shares in the last quarter. Hedge funds and other institutional investors 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 research note on Tuesday, March 18th. One investment analyst has rated the stock with a sell rating, one has given a hold rating, four have given a buy rating and three have issued a strong buy rating to the company’s stock. According to MarketBeat, Daqo New Energy currently has an average rating of “Buy” and a consensus target price of $22.26.

Daqo New Energy Stock Performance

Shares of Daqo New Energy stock opened at $18.29 on Thursday. The company has a fifty day moving average of $19.58 and a 200 day moving average of $19.68. The company has a market capitalization of $1.21 billion, a P/E ratio of -9.89 and a beta of 0.41. Daqo New Energy Corp. has a fifty-two week low of $13.62 and a fifty-two week high of $30.85.

Daqo New Energy (NYSE:DQ) last released its quarterly earnings data on Thursday, February 27th. The semiconductor company reported ($2.71) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.69) by ($2.02). The business had revenue of $195.36 million during the quarter, compared to the consensus estimate 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 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.