Point72 Hong Kong Ltd Makes New Investment in Daqo New Energy Corp. (NYSE:DQ)

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

Other large investors have also recently added to or reduced their stakes in the company. Greenwoods Asset Management Hong Kong Ltd. lifted its stake in Daqo New Energy by 5,286.6% during the fourth quarter. Greenwoods Asset Management Hong Kong Ltd. now owns 2,714,780 shares of the semiconductor company's stock worth $52,775,000 after purchasing an additional 2,664,381 shares in the last quarter. Prudential PLC acquired a new position in Daqo New Energy during the fourth quarter worth $14,775,000. Ariose Capital Management Ltd lifted its stake in 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 worth $29,271,000 after purchasing an additional 324,585 shares in the last quarter. Continental General Insurance Co. lifted its stake in 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 worth $115,011,000 after purchasing an additional 322,084 shares in the last quarter. Finally, Polymer Capital Management US LLC acquired a new position in Daqo New Energy during the fourth quarter worth $3,983,000. 47.22% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of research analysts have commented on DQ shares. Hsbc Global Res cut Daqo New Energy from a "strong-buy" rating to a "hold" rating in a research note on Wednesday, April 30th. HSBC cut Daqo New Energy from a "buy" rating to a "hold" rating and set a $14.00 price target on the stock. in a research note on Wednesday, April 30th. The Goldman Sachs Group cut Daqo New Energy from a "buy" rating to a "neutral" rating and set a $17.00 price target on the stock. in a research note on Tuesday, April 15th. Finally, StockNews.com upgraded Daqo New Energy to a "sell" rating in a research note on Monday, April 21st. One equities 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 issued a strong buy rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average price target of $21.01.

Daqo New Energy Price Performance

Shares of NYSE DQ traded down $0.29 during mid-day trading on Friday, hitting $14.55. The company had a trading volume of 446,236 shares, compared to its average volume of 1,036,406. The company has a market capitalization of $975.68 million, a PE ratio of -7.86 and a beta of 0.58. The business's 50-day simple moving average is $15.57 and its 200 day simple moving average is $18.33. Daqo New Energy Corp. has a 1-year low of $12.41 and a 1-year high of $30.85.

Daqo New Energy (NYSE:DQ - Get Free Report) last posted its earnings results on Tuesday, April 29th. The semiconductor company reported ($1.07) 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 analysts' expectations 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, analysts expect that Daqo New Energy Corp. will post -3.5 EPS 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.