SG Americas Securities LLC Makes New $9.37 Million Investment in Daqo New Energy Corp. (NYSE:DQ)

SG Americas Securities LLC purchased a new position in Daqo New Energy Corp. (NYSE:DQ - Free Report) during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund purchased 517,499 shares of the semiconductor company's stock, valued at approximately $9,372,000. SG Americas Securities LLC owned approximately 0.78% of Daqo New Energy at the end of the most recent reporting period.

A number of other hedge funds also recently bought and sold shares of DQ. 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 worth $115,011,000 after buying an additional 322,084 shares during the last quarter. Greenwoods Asset Management Hong Kong Ltd. raised its position in Daqo New Energy by 5,286.6% in 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 buying an additional 2,664,381 shares during the last quarter. Point72 Asset Management L.P. raised its position in Daqo New Energy by 67.5% in the 4th quarter. Point72 Asset Management L.P. now owns 886,655 shares of the semiconductor company's stock worth $17,237,000 after buying an additional 357,460 shares during the last quarter. Prudential PLC purchased a new position in Daqo New Energy in the 4th quarter worth about $14,775,000. Finally, Russell Investments Group Ltd. raised its position in Daqo New Energy by 64.3% in the 4th quarter. Russell Investments Group Ltd. now owns 295,514 shares of the semiconductor company's stock worth $5,745,000 after buying an additional 115,674 shares during the last quarter. Institutional investors own 47.22% of the company's stock.

Daqo New Energy Price Performance

Shares of NYSE:DQ traded down $0.33 during mid-day trading on Friday, reaching $13.90. 442,997 shares of the company traded hands, compared to its average volume of 1,001,388. The company's 50 day moving average price is $13.89 and its 200-day moving average price is $17.36. The firm has a market cap of $932.36 million, a PE ratio of -7.52 and a beta of 0.59. Daqo New Energy Corp. has a 52 week low of $12.41 and a 52 week high of $30.85.

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

Analyst Ratings Changes

DQ has been the subject of a number of recent analyst reports. Hsbc Global Res lowered Daqo New Energy from a "strong-buy" rating to a "hold" rating in a research report on Wednesday, April 30th. The Goldman Sachs Group lowered shares of Daqo New Energy from a "buy" rating to a "neutral" rating and set a $17.00 price target for the company. in a research report on Tuesday, April 15th. HSBC lowered shares of 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. Finally, Wall Street Zen raised shares of Daqo New Energy to a "sell" rating in a research report on Monday, April 21st. One analyst has rated the stock with a sell rating, four have given a hold rating, two have issued a buy rating and two have issued a strong buy rating to the company. Based on data from MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus target price of $21.01.

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.