Arosa Capital Management LP Purchases New Position in Daqo New Energy Corp. (NYSE:DQ)

Arosa Capital Management LP acquired a new position in Daqo New Energy Corp. (NYSE:DQ - Free Report) during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 150,000 shares of the semiconductor company's stock, valued at approximately $2,916,000. Daqo New Energy comprises approximately 1.2% of Arosa Capital Management LP's holdings, making the stock its 18th largest position. Arosa Capital Management LP owned 0.23% of Daqo New Energy at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in the business. Generali Investments CEE investicni spolecnost a.s. acquired a new position in Daqo New Energy in the 4th quarter valued at $52,000. Diametric Capital LP grew its position 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 valued at $311,000 after purchasing an additional 3,255 shares during the last quarter. Van ECK Associates Corp increased its stake in shares of Daqo New Energy by 7.6% in the fourth 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. Polymer Capital Management HK LTD acquired a new position in shares of Daqo New Energy during the 4th quarter worth about $404,000. Finally, Geode Capital Management LLC boosted its stake 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 valued at $683,000 after purchasing an additional 2,813 shares during the period. Institutional investors own 47.22% of the company's stock.

Analyst Upgrades and Downgrades

DQ has been the subject of a number of research analyst reports. HSBC lowered Daqo New Energy from a "buy" rating to a "hold" rating and set a $14.00 price target for the company. in a report on Wednesday. Hsbc Global Res downgraded shares of Daqo New Energy from a "strong-buy" rating to a "hold" rating in a report on Wednesday. StockNews.com upgraded shares of Daqo New Energy to a "sell" rating in a research report on Monday, April 21st. Finally, The Goldman Sachs Group lowered 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. One research analyst has rated the stock with a sell rating, four have given a hold rating, two have given a buy rating and two have issued a strong buy rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and an average target price of $21.01.

Daqo New Energy Stock Performance

Shares of DQ stock traded up $0.01 during mid-day trading on Thursday, reaching $12.75. The company's stock had a trading volume of 467,166 shares, compared to its average volume of 1,053,564. The firm's 50-day moving average is $17.04 and its two-hundred day moving average is $18.99. The company has a market cap of $841.26 million, a P/E ratio of -6.89 and a beta of 0.37. 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 quarterly earnings results 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 return on equity of 1.90% and a negative net margin of 9.16%. Sell-side analysts anticipate that Daqo New Energy Corp. will post -3.5 EPS for the current year.

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.