Ariose Capital Management Ltd Sells 973,800 Shares of DAQO New Energy Corp. (NYSE:DQ)

Ariose Capital Management Ltd lowered its position in DAQO New Energy Corp. (NYSE:DQ - Free Report) by 64.7% during the first quarter, according to its most recent Form 13F filing with the SEC. The fund owned 531,909 shares of the semiconductor company's stock after selling 973,800 shares during the period. DAQO New Energy accounts for 10.6% of Ariose Capital Management Ltd's portfolio, making the stock its 6th largest holding. Ariose Capital Management Ltd owned 0.81% of DAQO New Energy worth $9,633,000 at the end of the most recent quarter.

A number of other hedge funds have also recently added to or reduced their stakes in DQ. Generali Investments CEE investicni spolecnost a.s. acquired a new position in DAQO New Energy during the fourth quarter valued at approximately $52,000. Diametric Capital LP grew its holdings in DAQO New Energy by 25.5% during 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. Polymer Capital Management HK LTD acquired a new position in DAQO New Energy during the fourth quarter valued at approximately $404,000. Nuveen Asset Management LLC grew its holdings in DAQO New Energy by 16.7% during the fourth quarter. Nuveen Asset Management LLC now owns 39,200 shares of the semiconductor company's stock valued at $762,000 after purchasing an additional 5,600 shares during the last quarter. Finally, O Shaughnessy Asset Management LLC grew its holdings in DAQO New Energy by 37.2% during the fourth quarter. O Shaughnessy Asset Management LLC now owns 45,788 shares of the semiconductor company's stock valued at $890,000 after purchasing an additional 12,409 shares during the last quarter. Institutional investors and hedge funds own 47.22% of the company's stock.

Wall Street Analyst Weigh In

Several equities research analysts have recently issued reports on DQ shares. HSBC downgraded shares of DAQO New Energy from a "buy" rating to a "hold" rating and set a $14.00 price objective on the stock. in a research note 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 note on Wednesday, April 30th. Wall Street Zen upgraded shares of DAQO New Energy to a "sell" rating in a research note on Monday, April 21st. Finally, The Goldman Sachs Group downgraded shares of DAQO New Energy from a "buy" rating to a "neutral" rating and set a $17.00 price objective on the stock. in a research note on Tuesday, April 15th. One investment analyst has rated the stock with a sell rating, four have issued a hold rating, two have given a buy rating and two have issued a strong buy rating to the company. Based on data from MarketBeat.com, DAQO New Energy currently has a consensus rating of "Moderate Buy" and a consensus price target of $21.01.

DAQO New Energy Stock Down 8.1%

DAQO New Energy stock opened at $17.44 on Tuesday. The stock has a 50-day simple moving average of $14.29 and a 200 day simple moving average of $16.97. DAQO New Energy Corp. has a 12-month low of $12.41 and a 12-month high of $30.85. The stock has a market capitalization of $1.17 billion, a price-to-earnings ratio of -2.68 and a beta of 0.60.

DAQO New Energy (NYSE:DQ - Get Free Report) last announced its quarterly earnings data 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). The firm had revenue of $123.91 million for the quarter, compared to the consensus estimate of $176.81 million. DAQO New Energy had a negative return on equity of 7.16% and a negative net margin of 58.63%. As a group, sell-side analysts anticipate that DAQO New Energy Corp. will post -3.5 EPS for the current year.

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.

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