Point72 Asset Management L.P. Purchases 357,460 Shares of Daqo New Energy Corp. (NYSE:DQ)

Point72 Asset Management L.P. grew its stake in Daqo New Energy Corp. (NYSE:DQ - Free Report) by 67.5% in the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 886,655 shares of the semiconductor company's stock after buying an additional 357,460 shares during the quarter. Point72 Asset Management L.P. owned 1.34% of Daqo New Energy worth $17,237,000 at the end of the most recent reporting period.

Several other large investors also recently made changes to their positions in the stock. Continental General Insurance Co. raised its position in Daqo New Energy by 5.8% in the 4th quarter. Continental General Insurance Co. now owns 5,916,202 shares of the semiconductor company's stock valued at $115,011,000 after buying an additional 322,084 shares during the last quarter. Greenwoods Asset Management Hong Kong Ltd. boosted its position in Daqo New Energy by 5,286.6% during the 4th quarter. Greenwoods Asset Management Hong Kong Ltd. now owns 2,714,780 shares of the semiconductor company's stock worth $52,775,000 after acquiring an additional 2,664,381 shares during the last quarter. Ariose Capital Management Ltd grew its stake in shares of Daqo New Energy by 27.5% during the 4th quarter. Ariose Capital Management Ltd now owns 1,505,709 shares of the semiconductor company's stock worth $29,271,000 after acquiring an additional 324,585 shares in the last quarter. Prudential PLC acquired a new stake in shares of Daqo New Energy in the fourth quarter valued at approximately $14,775,000. Finally, Russell Investments Group Ltd. raised its holdings in shares of Daqo New Energy by 64.3% in the fourth quarter. Russell Investments Group Ltd. now owns 295,514 shares of the semiconductor company's stock valued at $5,745,000 after purchasing an additional 115,674 shares during the last quarter. Institutional investors own 47.22% of the company's stock.

Daqo New Energy Trading Up 2.7%

NYSE:DQ traded up $0.37 on Friday, hitting $13.93. The company's stock had a trading volume of 172,166 shares, compared to its average volume of 1,021,033. Daqo New Energy Corp. has a one year low of $12.41 and a one year high of $30.85. The firm has a market capitalization of $933.77 million, a P/E ratio of -7.53 and a beta of 0.58. The stock has a fifty day moving average of $15.18 and a two-hundred day moving average of $18.11.

Daqo New Energy (NYSE:DQ - Get Free Report) last posted its quarterly earnings results on Tuesday, April 29th. The semiconductor company reported ($1.07) earnings per share for the quarter, missing analysts' consensus estimates of ($1.02) by ($0.05). Daqo New Energy had a negative net margin of 9.16% and a negative return on equity of 1.90%. The business had revenue of $123.91 million during the quarter, compared to the consensus estimate of $176.81 million. As a group, sell-side analysts anticipate that Daqo New Energy Corp. will post -3.5 EPS for the current year.

Analysts Set New Price Targets

A number of research analysts recently weighed in on DQ shares. Hsbc Global Res downgraded shares of Daqo New Energy from a "strong-buy" rating to a "hold" rating in a research report on Wednesday, April 30th. The Goldman Sachs Group cut Daqo New Energy from a "buy" rating to a "neutral" rating and set a $17.00 price objective for the company. in a report on Tuesday, April 15th. Wall Street Zen raised Daqo New Energy to a "sell" rating in a research report on Monday, April 21st. Finally, HSBC cut Daqo New Energy from a "buy" rating to a "hold" rating and set a $14.00 price target for the company. in a research report on Wednesday, April 30th. One research analyst has rated the stock with a sell rating, four have issued a hold rating, two have given a buy rating and two have assigned a strong buy rating to the company. According to MarketBeat.com, Daqo New Energy has a consensus rating of "Moderate Buy" and a consensus price target of $21.01.

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.