Jump Financial LLC Takes Position in 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 bought a new position in DAQO New Energy Corp. (NYSE:DQ - Free Report) in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund bought 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 Securities and Exchange Commission.

Several other large investors have also modified their holdings of the stock. Caitong International Asset Management Co. Ltd grew its stake in DAQO New Energy by 86,700.0% in the first quarter. Caitong International Asset Management Co. Ltd now owns 1,736 shares of the semiconductor company's stock worth $31,000 after purchasing an additional 1,734 shares in the last quarter. CoreCommodity Management LLC lifted its holdings in DAQO New Energy by 1.6% during 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 during the last quarter. Nuveen Asset Management LLC grew its position in shares of DAQO New Energy by 16.7% in the 4th quarter. Nuveen Asset Management LLC now owns 39,200 shares of the semiconductor company's stock worth $762,000 after acquiring an additional 5,600 shares in the last quarter. American Century Companies Inc. increased its holdings in shares of DAQO New Energy by 4.7% in the 1st quarter. American Century Companies Inc. now owns 220,623 shares of the semiconductor company's stock valued at $3,995,000 after acquiring an additional 9,885 shares during the last quarter. Finally, Virtu Financial LLC acquired a new stake in shares of DAQO New Energy during the 1st quarter valued at approximately $187,000. Institutional investors own 47.22% of the company's stock.

Analyst Upgrades and Downgrades

A number of research firms have commented on DQ. Citigroup started coverage on shares of 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 restated a "buy" rating and issued a $30.51 price target on shares of DAQO New Energy in a research report on Tuesday, August 26th. Wall Street Zen raised shares of DAQO New Energy from a "strong sell" rating to a "hold" rating in a research report on Saturday. Hsbc Global Res upgraded shares of DAQO New Energy from a "hold" rating to a "strong-buy" rating in a research note on Wednesday, August 27th. Finally, HSBC raised shares of DAQO New Energy from a "hold" rating to a "buy" rating and set a $31.00 target price on the stock in a report on Wednesday, August 27th. Two analysts have rated the stock with a Strong Buy rating, four have given a Buy rating and one has given a Hold rating to the company. According to MarketBeat.com, the company presently has a consensus rating of "Buy" and a consensus target price of $26.10.

DAQO New Energy Trading Up 3.0%

DQ stock traded up $0.76 during trading hours on Tuesday, hitting $26.11. 1,394,887 shares of the stock traded hands, compared to its average volume of 937,887. The stock has a 50-day simple moving average of $21.14 and a 200 day simple moving average of $17.78. The company has a market cap of $1.75 billion, a P/E ratio of -4.47 and a beta of 0.50. DAQO New Energy Corp. has a one year low of $12.40 and a one year high of $30.85.

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

DAQO New Energy announced that its board has approved a stock repurchase plan on Tuesday, August 26th that allows the company to buyback $0.00 in shares. This buyback authorization allows the semiconductor company to purchase shares of its stock through open market purchases. Shares buyback plans are typically an indication that the company's board of directors believes its shares are undervalued.

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.