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

Hsbc Holdings PLC increased its holdings in shares of Daqo New Energy Corp. (NYSE:DQ - Free Report) by 381.6% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 81,576 shares of the semiconductor company's stock after buying an additional 64,639 shares during the period. Hsbc Holdings PLC owned 0.12% of Daqo New Energy worth $1,586,000 at the end of the most recent quarter.

Several other large investors have also bought and sold shares of the business. Barclays PLC raised its position in shares of Daqo New Energy by 587.8% in the 4th quarter. Barclays PLC now owns 80,750 shares of the semiconductor company's stock valued at $1,570,000 after acquiring an additional 69,010 shares during the period. Continental General Insurance Co. increased its stake in Daqo New Energy by 5.8% in the fourth quarter. Continental General Insurance Co. now owns 5,916,202 shares of the semiconductor company's stock valued at $115,011,000 after purchasing an additional 322,084 shares in the last quarter. Polymer Capital Management US LLC acquired a new stake in Daqo New Energy in the fourth quarter worth $3,983,000. Polymer Capital Management HK LTD bought a new position in shares of Daqo New Energy during the fourth quarter worth $404,000. Finally, Russell Investments Group Ltd. grew its holdings in shares of 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 valued at $5,745,000 after buying an additional 115,674 shares during the period. 47.22% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of research firms have issued reports on DQ. Hsbc Global Res cut Daqo New Energy from a "strong-buy" rating to a "hold" rating in a research note on Wednesday. The Goldman Sachs Group lowered Daqo New Energy from a "buy" rating to a "neutral" rating and set a $17.00 price objective for the company. in a research report on Tuesday, April 15th. StockNews.com upgraded shares of Daqo New Energy to a "sell" rating in a report on Monday, April 21st. Finally, HSBC cut 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 report on Wednesday. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating, two have issued a buy rating and two have issued a strong buy rating to the stock. According to MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average price target of $21.01.

Daqo New Energy Trading Up 0.8 %

Shares of NYSE DQ traded up $0.10 during mid-day trading on Friday, hitting $12.87. The company had a trading volume of 573,473 shares, compared to its average volume of 1,045,204. Daqo New Energy Corp. has a one year low of $12.41 and a one year high of $30.85. The company has a market capitalization of $849.51 million, a PE ratio of -6.96 and a beta of 0.37. The firm has a 50-day simple moving average of $16.74 and a two-hundred day simple moving average of $18.91.

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 the consensus estimate of ($1.02) by ($0.05). Daqo New Energy had a negative return on equity of 1.90% and a negative net margin of 9.16%. The company had revenue of $123.91 million for the quarter, compared to analyst estimates of $176.81 million. Sell-side 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.