Hsbc Holdings PLC Buys 64,639 Shares of Daqo New Energy Corp. (NYSE:DQ)

Hsbc Holdings PLC increased its stake in shares of Daqo New Energy Corp. (NYSE:DQ - Free Report) by 381.6% in the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 81,576 shares of the semiconductor company's stock after purchasing an additional 64,639 shares during the quarter. Hsbc Holdings PLC owned approximately 0.12% of Daqo New Energy worth $1,586,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Generali Investments CEE investicni spolecnost a.s. acquired a new stake in shares of Daqo New Energy in the 4th quarter valued at $52,000. Diametric Capital LP raised its stake in Daqo New Energy by 25.5% during the 4th quarter. Diametric Capital LP now owns 16,018 shares of the semiconductor company's stock valued at $311,000 after purchasing an additional 3,255 shares during the last quarter. Van ECK Associates Corp grew its position in Daqo New Energy by 7.6% in the 4th quarter. Van ECK Associates Corp now owns 20,067 shares of the semiconductor company's stock worth $390,000 after purchasing an additional 1,410 shares during the last quarter. Polymer Capital Management HK LTD acquired a new position in shares of Daqo New Energy during the fourth quarter valued at about $404,000. Finally, Geode Capital Management LLC lifted its stake in shares of Daqo New Energy by 9.2% in the third quarter. Geode Capital Management LLC now owns 33,546 shares of the semiconductor company's stock valued at $683,000 after buying an additional 2,813 shares during the period. 47.22% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of analysts have commented on DQ shares. HSBC downgraded Daqo New Energy from a "buy" rating to a "hold" rating and set a $14.00 price objective for the company. 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. StockNews.com raised shares of Daqo New Energy to a "sell" rating in a report on Monday, April 21st. Finally, Hsbc Global Res lowered shares of Daqo New Energy from a "strong-buy" rating to a "hold" rating in a report on Wednesday, April 30th. One analyst has rated the stock with a sell rating, four have assigned a hold rating, two have issued a buy rating and two have given a strong buy rating to the company. According to data from MarketBeat, the company currently has an average rating of "Moderate Buy" and an average target price of $21.01.

Daqo New Energy Trading Up 0.3 %

Shares of DQ traded up $0.04 during trading hours on Wednesday, hitting $13.15. 182,828 shares of the stock traded hands, compared to its average volume of 1,038,772. The business has a fifty day moving average of $16.39 and a 200-day moving average of $18.83. The firm has a market capitalization of $867.99 million, a PE ratio of -7.11 and a beta of 0.58. Daqo New Energy Corp. has a 1-year low of $12.41 and a 1-year high of $30.85.

Daqo New Energy (NYSE:DQ - Get Free Report) last issued its earnings results on Tuesday, April 29th. The semiconductor company reported ($1.07) earnings per share (EPS) for the quarter, missing the consensus estimate of ($1.02) by ($0.05). The business had revenue of $123.91 million during 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%. As a group, equities research analysts expect that Daqo New Energy Corp. will post -3.5 earnings per share for the current fiscal year.

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.