Ariose Capital Management Ltd Has $9.63 Million Stock Position in DAQO New Energy Corp. (NYSE:DQ)

Ariose Capital Management Ltd lessened its position in shares of DAQO New Energy Corp. (NYSE:DQ - Free Report) by 64.7% in the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. 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 holdings, making the stock its 6th biggest holding. Ariose Capital Management Ltd owned about 0.81% of DAQO New Energy worth $9,633,000 at the end of the most recent reporting period.

A number of other hedge funds have also bought and sold shares of the company. SG Americas Securities LLC bought a new stake in DAQO New Energy in the first quarter worth approximately $9,372,000. Point72 Asset Management L.P. grew its position in shares of DAQO New Energy by 67.5% during the 4th quarter. Point72 Asset Management L.P. now owns 886,655 shares of the semiconductor company's stock worth $17,237,000 after buying an additional 357,460 shares during the period. Point72 Europe London LLP bought a new stake in shares of DAQO New Energy in the 4th quarter valued at $3,742,000. Point72 Hong Kong Ltd acquired a new position in shares of DAQO New Energy during the 4th quarter valued at $3,287,000. Finally, Nuveen Asset Management LLC lifted its position in shares of DAQO New Energy by 16.7% during the 4th quarter. Nuveen Asset Management LLC now owns 39,200 shares of the semiconductor company's stock valued at $762,000 after acquiring an additional 5,600 shares during the period. Institutional investors own 47.22% of the company's stock.

DAQO New Energy Stock Up 0.4%

DQ stock traded up $0.09 during mid-day trading on Friday, reaching $20.19. 1,793,620 shares of the company traded hands, compared to its average volume of 1,034,011. The firm's 50 day moving average price is $14.84 and its 200 day moving average price is $17.03. The stock has a market cap of $1.35 billion, a price-to-earnings ratio of -3.10 and a beta of 0.60. DAQO New Energy Corp. has a fifty-two week low of $12.41 and a fifty-two week high of $30.85.

DAQO New Energy (NYSE:DQ - Get Free Report) last announced its 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 company had revenue of $123.91 million for the quarter, compared to analysts' expectations of $176.81 million. DAQO New Energy had a negative net margin of 58.63% and a negative return on equity of 7.16%. On average, analysts anticipate that DAQO New Energy Corp. will post -3.5 EPS for the current fiscal year.

Analyst Ratings Changes

A number of research firms have commented on DQ. Glj Research upgraded shares of DAQO New Energy from a "sell" rating to a "buy" rating and set a $30.51 price target for the company in a report on Thursday. The Goldman Sachs Group downgraded DAQO New Energy from a "buy" rating to a "neutral" rating and set a $17.00 target price for the company. in a research note on Tuesday, April 15th. Hsbc Global Res downgraded DAQO New Energy from a "strong-buy" rating to a "hold" rating in a research note on Wednesday, April 30th. HSBC lowered DAQO New Energy from a "buy" rating to a "hold" rating and set a $14.00 price target on the stock. in a report on Wednesday, April 30th. Finally, Wall Street Zen upgraded DAQO New Energy to a "sell" rating in a report on Monday, April 21st. One equities research analyst has rated the stock with a sell rating, four have given a hold rating, three have assigned a buy rating and two have assigned a strong buy rating to the company. According to MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus target price of $22.59.

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.