Cubist Systematic Strategies LLC Acquires Shares of 133,351 Daqo New Energy Corp. (NYSE:DQ)

Cubist Systematic Strategies LLC acquired a new stake in Daqo New Energy Corp. (NYSE:DQ - Free Report) in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor acquired 133,351 shares of the semiconductor company's stock, valued at approximately $2,592,000. Cubist Systematic Strategies LLC owned about 0.20% of Daqo New Energy at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also made changes to their positions in DQ. Van ECK Associates Corp boosted its position 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 worth $390,000 after purchasing an additional 1,410 shares during the period. Generali Investments CEE investicni spolecnost a.s. purchased a new position in shares of Daqo New Energy during the 4th quarter worth approximately $52,000. Geode Capital Management LLC boosted its position in shares of 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 during the period. Diametric Capital LP boosted its position in shares of Daqo New Energy by 25.5% during the 4th quarter. Diametric Capital LP now owns 16,018 shares of the semiconductor company's stock worth $311,000 after purchasing an additional 3,255 shares during the period. Finally, O Shaughnessy Asset Management LLC boosted its position in shares of Daqo New Energy by 37.2% during 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 and hedge funds own 47.22% of the company's stock.

Daqo New Energy Stock Performance

NYSE DQ traded down $0.38 during trading hours on Friday, hitting $14.46. The company had a trading volume of 184,140 shares, compared to its average volume of 1,032,205. Daqo New Energy Corp. has a 1-year low of $12.41 and a 1-year high of $30.85. The company has a market cap of $969.64 million, a PE ratio of -7.84 and a beta of 0.58. The business has a 50 day moving average of $15.65 and a 200-day moving average of $18.41.

Daqo New Energy (NYSE:DQ - Get Free Report) last posted its earnings results on Tuesday, April 29th. The semiconductor company reported ($1.07) earnings per share for the quarter, missing the consensus estimate of ($1.02) by ($0.05). Daqo New Energy had a negative net margin of 9.16% and a negative return on equity of 1.90%. The firm had revenue of $123.91 million during the quarter, compared to analysts' expectations of $176.81 million. Sell-side analysts expect that Daqo New Energy Corp. will post -3.5 earnings per share for the current fiscal year.

Analysts Set New Price Targets

A number of equities analysts recently weighed in on DQ shares. The Goldman Sachs Group cut shares of Daqo New Energy from a "buy" rating to a "neutral" rating and set a $17.00 price objective for the company. in a research report on Tuesday, April 15th. HSBC cut shares of Daqo New Energy from a "buy" rating to a "hold" rating and set a $14.00 price target for the company. in a research report on Wednesday, April 30th. Hsbc Global Res cut shares of Daqo New Energy from a "strong-buy" rating to a "hold" rating in a research report on Wednesday, April 30th. Finally, StockNews.com raised shares of Daqo New Energy to a "sell" rating in a research report on Monday, April 21st. One research analyst has rated the stock with a sell rating, four have given a hold rating, two have issued a buy rating and two have given a strong buy rating to the stock. According to data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average target price of $21.01.

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.