Polymer Capital Management HK LTD Acquires Shares of 20,800 Daqo New Energy Corp. (NYSE:DQ)

Polymer Capital Management HK LTD bought a new position in Daqo New Energy Corp. (NYSE:DQ) in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm bought 20,800 shares of the semiconductor company’s stock, valued at approximately $404,000.

Several other hedge funds and other institutional investors also recently modified their holdings of the business. Generali Investments CEE investicni spolecnost a.s. purchased a new position in Daqo New Energy in the 4th quarter valued at approximately $52,000. Diametric Capital LP boosted its holdings in shares of Daqo New Energy by 25.5% in the fourth quarter. Diametric Capital LP now owns 16,018 shares of the semiconductor company’s stock worth $311,000 after acquiring an additional 3,255 shares during the period. Van ECK Associates Corp raised its stake in shares of Daqo New Energy by 7.6% during the 4th quarter. Van ECK Associates Corp now owns 20,067 shares of the semiconductor company’s stock valued at $390,000 after purchasing an additional 1,410 shares during the period. Geode Capital Management LLC lifted its holdings in Daqo New Energy by 9.2% during the 3rd quarter. Geode Capital Management LLC now owns 33,546 shares of the semiconductor company’s stock worth $683,000 after purchasing an additional 2,813 shares in the last quarter. Finally, O Shaughnessy Asset Management LLC boosted its stake in Daqo New Energy by 37.2% in the 4th quarter. O Shaughnessy Asset Management LLC now owns 45,788 shares of the semiconductor company’s stock worth $890,000 after purchasing an additional 12,409 shares during the period. Institutional investors own 47.22% of the company’s stock.

Analysts Set New Price Targets

Separately, StockNews.com raised shares of Daqo New Energy to a “sell” rating in a report on Tuesday, March 18th. One investment analyst has rated the stock with a sell rating, one has issued a hold rating, four have issued a buy rating and three have issued a strong buy rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Buy” and an average price target of $22.26.

Daqo New Energy Trading Down 6.6 %

Shares of DQ opened at $15.52 on Monday. Daqo New Energy Corp. has a 12-month low of $13.62 and a 12-month high of $30.85. The company has a market cap of $1.02 billion, a PE ratio of -8.39 and a beta of 0.37. The stock has a 50-day moving average price of $19.48 and a 200-day moving average price of $19.81.

Daqo New Energy (NYSE:DQ) last released its quarterly earnings results on Thursday, February 27th. The semiconductor company reported ($2.71) EPS for the quarter, missing analysts’ consensus estimates of ($0.69) by ($2.02). The company had revenue of $195.36 million during the quarter, compared to analysts’ expectations of $153.54 million. Daqo New Energy had a negative return on equity of 1.90% and a negative net margin of 9.16%. As a group, analysts predict 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.