Charles Schwab Investment Management Inc. Boosts Stock Position in DAQO New Energy Corp. $DQ

Key Points

• Charles Schwab Investment Management Inc. increased its stake in DAQO New Energy Corp. by 227.3% in Q1, owning approximately 0.25% of the company after acquiring 112,562 additional shares.
• Several other institutional investors, including SG Americas Securities LLC and Point72 Asset Management, have also recently increased their holdings in DAQO New Energy, indicating growing interest in the stock.
• Analysts have upgraded DAQO New Energy's rating, with HSBC raising it from a "hold" to a "strong-buy" and setting a target price of $31.00, amidst a consensus average rating of "Buy" for the stock.

Charles Schwab Investment Management Inc. lifted its stake in DAQO New Energy Corp. (NYSE:DQ - Free Report) by 227.3% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 162,085 shares of the semiconductor company's stock after purchasing an additional 112,562 shares during the quarter. Charles Schwab Investment Management Inc. owned 0.25% of DAQO New Energy worth $2,935,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors have also recently modified their holdings of DQ. Barclays PLC raised its position in shares of DAQO New Energy by 587.8% in the 4th quarter. Barclays PLC now owns 80,750 shares of the semiconductor company's stock worth $1,570,000 after purchasing an additional 69,010 shares during the last quarter. Northern Trust Corp raised its position in shares of DAQO New Energy by 27.2% in the 4th quarter. Northern Trust Corp now owns 119,786 shares of the semiconductor company's stock worth $2,329,000 after purchasing an additional 25,647 shares during the last quarter. Caxton Associates LP bought a new stake in DAQO New Energy in the 4th quarter worth about $1,534,000. Cubist Systematic Strategies LLC bought a new stake in DAQO New Energy in the 4th quarter worth about $2,592,000. Finally, CoreCommodity Management LLC increased its holdings in DAQO New Energy by 1.6% in the 4th quarter. CoreCommodity Management LLC now owns 134,888 shares of the semiconductor company's stock worth $2,622,000 after buying an additional 2,183 shares in the last quarter. Hedge funds and other institutional investors own 47.22% of the company's stock.

DAQO New Energy Trading Up 1.2%

DAQO New Energy stock traded up $0.30 during trading on Wednesday, reaching $26.40. The company had a trading volume of 609,131 shares, compared to its average volume of 994,062. DAQO New Energy Corp. has a 52 week low of $12.40 and a 52 week high of $30.85. The firm's 50-day simple moving average is $21.14 and its 200 day simple moving average is $17.78. The firm has a market capitalization of $1.77 billion, a price-to-earnings ratio of -4.53 and a beta of 0.50.

DAQO New Energy (NYSE:DQ - Get Free Report) last posted its quarterly earnings data on Tuesday, August 26th. The semiconductor company reported ($1.14) earnings per share for the quarter, beating analysts' consensus estimates of ($1.16) by $0.02. DAQO New Energy had a negative return on equity of 6.54% and a negative net margin of 65.64%.The firm had revenue of $75.19 million for the quarter, compared to analysts' expectations of $140.54 million. On average, analysts predict that DAQO New Energy Corp. will post -3.5 earnings per share for the current year.

DAQO New Energy declared that its board has authorized a share buyback plan on Tuesday, August 26th that authorizes the company to buyback $0.00 in outstanding shares. This buyback authorization authorizes the semiconductor company to purchase shares of its stock through open market purchases. Shares buyback plans are generally an indication that the company's leadership believes its shares are undervalued.

Analysts Set New Price Targets

Several equities research analysts recently commented on the company. Hsbc Global Res upgraded DAQO New Energy from a "hold" rating to a "strong-buy" rating in a report on Wednesday, August 27th. Wall Street Zen upgraded DAQO New Energy from a "strong sell" rating to a "hold" rating in a report on Saturday. Citigroup assumed coverage on DAQO New Energy in a report on Friday, July 18th. They issued a "buy" rating and a $27.00 price objective for the company. Glj Research reiterated a "buy" rating and issued a $30.51 price objective on shares of DAQO New Energy in a report on Tuesday, August 26th. Finally, HSBC upgraded DAQO New Energy from a "hold" rating to a "buy" rating and set a $31.00 price objective for the company in a report on Wednesday, August 27th. Two equities research analysts have rated the stock with a Strong Buy rating, four have assigned a Buy rating and one has issued a Hold rating to the company's stock. Based on data from MarketBeat, DAQO New Energy presently has a consensus rating of "Buy" and a consensus price target of $26.10.

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.