Point72 Europe London LLP Buys Shares of 192,500 Daqo New Energy Corp. (NYSE:DQ)

Point72 Europe London LLP purchased a new position in Daqo New Energy Corp. (NYSE:DQ - Free Report) during the 4th quarter, according to its most recent 13F filing with the SEC. The firm purchased 192,500 shares of the semiconductor company's stock, valued at approximately $3,742,000. Point72 Europe London LLP owned about 0.29% of Daqo New Energy as of its most recent SEC filing.

Other institutional investors have also made changes to their positions in the company. Ariose Capital Management Ltd increased its stake in Daqo New Energy by 27.5% in the fourth quarter. Ariose Capital Management Ltd now owns 1,505,709 shares of the semiconductor company's stock valued at $29,271,000 after purchasing an additional 324,585 shares in the last quarter. Van ECK Associates Corp grew its stake in Daqo New Energy by 7.6% in the fourth quarter. Van ECK Associates Corp now owns 20,067 shares of the semiconductor company's stock valued at $390,000 after acquiring an additional 1,410 shares during the period. Greenwoods Asset Management Hong Kong Ltd. raised its position in shares of Daqo New Energy by 5,286.6% during the fourth quarter. Greenwoods Asset Management Hong Kong Ltd. now owns 2,714,780 shares of the semiconductor company's stock worth $52,775,000 after purchasing an additional 2,664,381 shares during the period. Generali Investments CEE investicni spolecnost a.s. bought a new position in shares of Daqo New Energy during the 4th quarter valued at about $52,000. Finally, American Century Companies Inc. grew its position in shares of Daqo New Energy by 9.3% in the 4th quarter. American Century Companies Inc. now owns 210,738 shares of the semiconductor company's stock valued at $4,097,000 after purchasing an additional 17,880 shares during the period. 47.22% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several research firms have recently weighed in on DQ. 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, April 30th. The Goldman Sachs Group downgraded 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. Hsbc Global Res downgraded Daqo New Energy from a "strong-buy" rating to a "hold" rating in a research report on Wednesday, April 30th. Finally, StockNews.com upgraded shares of Daqo New Energy to a "sell" rating in a report on Monday, April 21st. One analyst has rated the stock with a sell rating, four have issued a hold rating, two have issued a buy rating and two have assigned a strong buy rating to the company. Based on data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average target price of $21.01.

Daqo New Energy Price Performance

Shares of DQ stock opened at $14.93 on Thursday. The stock has a market cap of $1.00 billion, a P/E ratio of -8.07 and a beta of 0.58. The company has a fifty day moving average price of $15.72 and a two-hundred day moving average price of $18.51. Daqo New Energy Corp. has a one year low of $12.41 and a one year high of $30.85.

Daqo New Energy (NYSE:DQ - Get Free Report) last released 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). 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 analyst estimates of $176.81 million. As a group, equities research analysts anticipate that Daqo New Energy Corp. will post -3.5 EPS for the current fiscal year.

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.

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