Point72 Hong Kong Ltd Takes Position in Daqo New Energy Corp. (NYSE:DQ)

Point72 Hong Kong Ltd purchased a new stake in Daqo New Energy Corp. (NYSE:DQ - Free Report) during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 169,084 shares of the semiconductor company's stock, valued at approximately $3,287,000. Point72 Hong Kong Ltd owned approximately 0.26% of Daqo New Energy at the end of the most recent reporting period.

Several other hedge funds have also recently added to or reduced their stakes in DQ. Greenwoods Asset Management Hong Kong Ltd. grew its holdings in Daqo New Energy by 5,286.6% during 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 in the last quarter. Prudential PLC acquired a new stake in shares of Daqo New Energy in the fourth quarter valued at approximately $14,775,000. Ariose Capital Management Ltd raised its holdings in shares of Daqo New Energy by 27.5% during 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 buying an additional 324,585 shares during the last quarter. Continental General Insurance Co. increased its holdings in shares of Daqo New Energy by 5.8% during the fourth quarter. Continental General Insurance Co. now owns 5,916,202 shares of the semiconductor company's stock valued at $115,011,000 after purchasing an additional 322,084 shares during the period. Finally, Polymer Capital Management US LLC acquired a new position in Daqo New Energy during the 4th quarter valued at about $3,983,000. 47.22% of the stock is currently owned by hedge funds and other institutional investors.

Daqo New Energy Stock Performance

Shares of Daqo New Energy stock traded up $0.12 during trading on Tuesday, hitting $14.47. 228,063 shares of the stock traded hands, compared to its average volume of 883,185. The stock has a market cap of $970.58 million, a P/E ratio of -7.81 and a beta of 0.58. The company has a fifty day moving average price of $15.49 and a two-hundred day moving average price of $18.24. Daqo New Energy Corp. has a twelve month low of $12.40 and a twelve month high of $30.85.

Daqo New Energy (NYSE:DQ - Get Free Report) last released its quarterly earnings data on Tuesday, April 29th. The semiconductor company reported ($1.07) earnings per share (EPS) for the quarter, missing the consensus estimate of ($1.02) by ($0.05). The business had revenue of $123.91 million during the quarter, compared to analyst estimates of $176.81 million. Daqo New Energy had a negative net margin of 9.16% and a negative return on equity of 1.90%. On average, equities research analysts expect that Daqo New Energy Corp. will post -3.5 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

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

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.