Quantbot Technologies LP Makes New $967,000 Investment in DAQO New Energy Corp. $DQ

Key Points

• Quantbot Technologies LP invested approximately $967,000 to acquire 53,412 shares of DAQO New Energy Corp., representing about 0.08% ownership in the company.
• Several other institutional investors, including Caitong International Asset Management and Nuveen LLC, also made significant changes to their positions in DAQO, showing increased interest among hedge funds.
• Brokerages have mixed reviews on DAQO New Energy stock, with some raising ratings to "buy" and others downgrading, resulting in an average rating of "Moderate Buy" with a target price of $23.22.

Quantbot Technologies LP acquired a new position in shares of DAQO New Energy Corp. (NYSE:DQ - Free Report) during the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor acquired 53,412 shares of the semiconductor company's stock, valued at approximately $967,000. Quantbot Technologies LP owned approximately 0.08% of DAQO New Energy as of its most recent filing with the Securities and Exchange Commission.

Other large investors have also recently bought and sold shares of the company. Caitong International Asset Management Co. Ltd lifted its holdings in DAQO New Energy by 86,700.0% during the 1st quarter. Caitong International Asset Management Co. Ltd now owns 1,736 shares of the semiconductor company's stock worth $31,000 after buying an additional 1,734 shares in the last quarter. Virtu Financial LLC bought a new stake in shares of DAQO New Energy during the 1st quarter valued at $187,000. XTX Topco Ltd bought a new stake in shares of DAQO New Energy during the 1st quarter valued at $316,000. Nuveen Asset Management LLC raised its position in shares of DAQO New Energy by 16.7% during the 4th quarter. Nuveen Asset Management LLC now owns 39,200 shares of the semiconductor company's stock valued at $762,000 after acquiring an additional 5,600 shares during the last quarter. Finally, Nuveen LLC bought a new stake in shares of DAQO New Energy during the 1st quarter valued at $837,000. Institutional investors and hedge funds own 47.22% of the company's stock.

Wall Street Analysts Forecast Growth

Several analysts have commented on DQ shares. Citigroup started coverage on shares of DAQO New Energy in a research report on Friday, July 18th. They set a "buy" rating and a $27.00 target price for the company. Hsbc Global Res upgraded shares of DAQO New Energy from a "hold" rating to a "strong-buy" rating in a research report on Wednesday. Glj Research reiterated a "buy" rating and set a $30.51 target price on shares of DAQO New Energy in a research report on Tuesday. Finally, HSBC upgraded shares of DAQO New Energy from a "hold" rating to a "buy" rating and set a $31.00 target price for the company in a research report on Wednesday. Two analysts have rated the stock with a Strong Buy rating, four have issued a Buy rating and one has given a Hold rating to the stock. According to MarketBeat.com, the stock has a consensus rating of "Buy" and a consensus target price of $26.10.

DAQO New Energy Price Performance

DQ stock traded up $2.75 during trading hours on Friday, reaching $25.59. 2,673,604 shares of the stock were exchanged, compared to its average volume of 886,372. The firm's 50-day moving average is $20.67 and its 200-day moving average is $17.74. The company has a market cap of $1.72 billion, a price-to-earnings ratio of -4.38 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.

DAQO New Energy (NYSE:DQ - Get Free Report) last released its 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 firm had revenue of $75.19 million during the quarter, compared to analysts' expectations of $140.54 million. DAQO New Energy had a negative return on equity of 6.54% and a negative net margin of 65.64%. As a group, equities research analysts forecast that DAQO New Energy Corp. will post -3.5 earnings per share for the current year.

DAQO New Energy declared that its board has initiated a share buyback program on Tuesday, August 26th that permits the company to buyback $0.00 in shares. This buyback authorization permits the semiconductor company to reacquire shares of its stock through open market purchases. Stock buyback programs are generally an indication that the company's management 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.