Arrowstreet Capital Limited Partnership Decreases Stock Position in DAQO New Energy Corp. $DQ

Key Points

• Arrowstreet Capital cut its DAQO New Energy position by 27.3% in the first quarter, selling 298,063 shares and retaining 794,149 shares worth approximately $16.9 million.
• Institutional ownership remains significant at 47.22%, with Goldman Sachs, Millennium Management, SG Americas, and Invesco among investors that increased their stakes.
• Analyst sentiment is mixed but leans toward Hold, with a $22.41 consensus price target. DAQO reported a sharp quarterly loss of $1.31 per share and revenue of $26.72 million, both worse than expectations.

Arrowstreet Capital Limited Partnership decreased its position in shares of DAQO New Energy Corp. (NYSE:DQ - Free Report) by 27.3% in the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 794,149 shares of the semiconductor company's stock after selling 298,063 shares during the period. Arrowstreet Capital Limited Partnership owned approximately 1.17% of DAQO New Energy worth $16,892,000 at the end of the most recent reporting period.

Other large investors have also recently made changes to their positions in the company. Goldman Sachs Group Inc. grew its holdings in shares of DAQO New Energy by 117.2% in the first quarter. Goldman Sachs Group Inc. now owns 1,159,835 shares of the semiconductor company's stock valued at $21,005,000 after purchasing an additional 625,900 shares in the last quarter. Marshall Wace LLP purchased a new stake in DAQO New Energy during the fourth quarter valued at $16,742,000. Millennium Management LLC lifted its position in DAQO New Energy by 1,261.0% during the first quarter. Millennium Management LLC now owns 354,596 shares of the semiconductor company's stock valued at $6,422,000 after purchasing an additional 328,541 shares during the last quarter. SG Americas Securities LLC lifted its position in DAQO New Energy by 118.6% during the fourth quarter. SG Americas Securities LLC now owns 42,788 shares of the semiconductor company's stock valued at $1,262,000 after purchasing an additional 272,568 shares during the last quarter. Finally, Invesco Ltd. grew its stake in shares of DAQO New Energy by 22.6% in the 4th quarter. Invesco Ltd. now owns 1,429,565 shares of the semiconductor company's stock worth $42,172,000 after buying an additional 263,614 shares in the last quarter. 47.22% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

Several analysts have recently issued reports on the stock. Wall Street Zen cut shares of DAQO New Energy from a "hold" rating to a "strong sell" rating in a research report on Saturday, May 2nd. The Goldman Sachs Group reissued a "neutral" rating and set a $11.20 price objective on shares of DAQO New Energy in a research note on Monday. Zacks Research upgraded DAQO New Energy from a "strong sell" rating to a "hold" rating in a research report on Monday, June 29th. Roth Capital set a $19.00 price objective on DAQO New Energy in a research note on Thursday, April 30th. Finally, Weiss Ratings cut DAQO New Energy from a "sell (d-)" rating to a "sell (e+)" rating in a report on Friday, July 24th. One equities research analyst has rated the stock with a Strong Buy rating, one has given a Buy rating, three have assigned a Hold rating and two have assigned a Sell rating to the stock. According to data from MarketBeat, DAQO New Energy currently has a consensus rating of "Hold" and a consensus target price of $22.41.

DAQO New Energy Stock Performance

Shares of DQ stock opened at $12.08 on Friday. The stock has a 50 day moving average price of $13.88 and a 200 day moving average price of $19.50. DAQO New Energy Corp. has a 52-week low of $11.38 and a 52-week high of $36.59. The firm has a market capitalization of $817.59 million, a P/E ratio of -4.35 and a beta of 0.65.

DAQO New Energy (NYSE:DQ - Get Free Report) last announced its quarterly earnings data on Wednesday, April 29th. The semiconductor company reported ($1.31) EPS for the quarter, missing the consensus estimate of ($0.13) by ($1.18). DAQO New Energy had a negative net margin of 32.92% and a negative return on equity of 3.19%. The business had revenue of $26.72 million during the quarter, compared to the consensus estimate of $186.28 million. As a group, sell-side analysts forecast that DAQO New Energy Corp. will post -1.31 EPS for the current year.

DAQO New Energy Company Profile

DAQO New Energy Corp. operates as a leading manufacturer of high-purity polysilicon and monocrystalline silicon wafers for the global solar photovoltaic industry. The company focuses on serving module makers and integrated solar producers with critical upstream materials, applying proprietary technologies and optimized processes to achieve high product purity and consistently low production costs. Its core offerings include solar-grade polysilicon—used in the ingot casting and wafer slicing stages—and premium mono-silicon wafers, which are a key input for high-efficiency solar cell production.

Founded in the late 2000s and listed on the New York Stock Exchange in 2010, DAQO New Energy established its first polysilicon facility in China's Xinjiang Uygur Autonomous Region.

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