Jump Financial LLC Acquires Shares of 119,246 DAQO New Energy Corp. $DQ

Key Points

• Jump Financial LLC has acquired 119,246 shares of DAQO New Energy Corp. valued at approximately $2.16 million, increasing its ownership to about 0.18% of the company.
• Several institutional investors, including HSBC and Point72 Asset Management, have significantly increased their stakes in DAQO New Energy during the 1st quarter.
• The stock of DAQO New Energy recently saw a 2.9% decline, with a current price of $23.04 and a 12-month range of $12.40 to $30.85.

Jump Financial LLC acquired a new stake in DAQO New Energy Corp. (NYSE:DQ - Free Report) in the 1st quarter, according to the company in its most recent filing with the SEC. The firm acquired 119,246 shares of the semiconductor company's stock, valued at approximately $2,160,000. Jump Financial LLC owned about 0.18% of DAQO New Energy as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds have also recently modified their holdings of DQ. SG Americas Securities LLC bought a new position in shares of DAQO New Energy during the 1st quarter valued at approximately $9,372,000. Hsbc Holdings PLC grew its position in shares of DAQO New Energy by 514.3% during the 1st quarter. Hsbc Holdings PLC now owns 501,145 shares of the semiconductor company's stock valued at $9,026,000 after acquiring an additional 419,569 shares during the period. 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 valued at $17,237,000 after acquiring an additional 357,460 shares during the period. Point72 Europe London LLP bought a new position in shares of DAQO New Energy during the 4th quarter valued at approximately $3,742,000. Finally, DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main bought a new position in shares of DAQO New Energy during the 4th quarter valued at approximately $3,732,000. 47.22% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

A number of research analysts have recently weighed in on DQ shares. Glj Research reissued a "buy" rating and set a $30.51 target price on shares of DAQO New Energy in a research report on Tuesday. HSBC upgraded shares of DAQO New Energy from a "hold" rating to a "buy" rating and set a $31.00 price objective on the stock in a research report on Wednesday. Hsbc Global Res cut shares of DAQO New Energy from a "strong-buy" rating to a "hold" rating in a research report on Wednesday, April 30th. Finally, Citigroup initiated coverage on shares of DAQO New Energy in a research report on Friday, July 18th. They set a "buy" rating and a $27.00 price objective on the stock. One research analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating and two have assigned a Hold rating to the company's stock. Based on data from MarketBeat.com, DAQO New Energy presently has a consensus rating of "Moderate Buy" and a consensus target price of $26.10.

DAQO New Energy Stock Down 2.9%

Shares of DAQO New Energy stock opened at $23.04 on Thursday. The firm has a market cap of $1.55 billion, a PE ratio of -3.95 and a beta of 0.48. DAQO New Energy Corp. has a 12-month low of $12.40 and a 12-month high of $30.85. The company's fifty day simple moving average is $20.26 and its two-hundred day simple moving average is $17.71.

DAQO New Energy (NYSE:DQ - Get Free Report) last announced its quarterly earnings results on Tuesday, August 26th. The semiconductor company reported ($1.14) earnings per share (EPS) for the quarter, topping analysts' consensus estimates of ($1.16) by $0.02. The business had revenue of $75.19 million for the quarter, compared to analyst estimates of $140.54 million. DAQO New Energy had a negative net margin of 65.64% and a negative return on equity of 6.49%. As a group, sell-side analysts expect that DAQO New Energy Corp. will post -3.5 earnings per share for the current fiscal year.

DAQO New Energy announced that its Board of Directors has authorized a share repurchase plan on Tuesday, August 26th that authorizes the company to buyback $0.00 in outstanding shares. This buyback authorization authorizes the semiconductor company to reacquire shares of its stock through open market purchases. Shares buyback plans are often a sign that the company's management believes its stock is undervalued.

About DAQO New Energy

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.

Want to see what other hedge funds are holding DQ? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for DAQO New Energy Corp. (NYSE:DQ - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.