JPMorgan Chase & Co. Reduces Stock Position in Daqo New Energy Corp. (NYSE:DQ)

JPMorgan Chase & Co. reduced its holdings in shares of Daqo New Energy Corp. (NYSE:DQ) by 92.9% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 6,187 shares of the semiconductor company’s stock after selling 80,880 shares during the quarter. JPMorgan Chase & Co.’s holdings in Daqo New Energy were worth $120,000 as of its most recent SEC filing.

A number of other hedge funds have also made changes to their positions in the stock. Generali Investments CEE investicni spolecnost a.s. bought a new position in Daqo New Energy during the fourth quarter worth $52,000. Van ECK Associates Corp raised its stake in Daqo New Energy by 7.6% during the fourth quarter. Van ECK Associates Corp now owns 20,067 shares of the semiconductor company’s stock worth $390,000 after acquiring an additional 1,410 shares during the period. Geode Capital Management LLC lifted its holdings in 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 worth $683,000 after acquiring an additional 2,813 shares during the last quarter. AI Squared Management Ltd acquired a new position in Daqo New Energy in the fourth quarter valued at approximately $1,499,000. Finally, American Century Companies Inc. grew its holdings in shares of Daqo New Energy by 9.3% during the fourth 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 last quarter. Institutional investors and hedge funds own 47.22% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities analysts have recently commented on DQ shares. StockNews.com upgraded shares of Daqo New Energy to a “sell” rating in a research report on Monday, April 21st. 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 downgraded shares of 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. Finally, HSBC cut shares of Daqo New Energy from a “buy” rating to a “hold” rating and set a $14.00 target price on the stock. in a research note on Wednesday, April 30th. One research 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 stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $21.01.

Daqo New Energy Trading Down 1.2 %

Shares of Daqo New Energy stock opened at $12.74 on Tuesday. Daqo New Energy Corp. has a 52 week low of $12.41 and a 52 week high of $30.85. The company’s 50-day moving average price is $16.56 and its two-hundred day moving average price is $18.87. The stock has a market cap of $840.60 million, a PE ratio of -6.88 and a beta of 0.58.

Daqo New Energy (NYSE:DQ) last released its earnings results on Tuesday, April 29th. The semiconductor company reported ($1.07) EPS for the quarter, missing the consensus estimate of ($1.02) by ($0.05). The business had revenue of $123.91 million for the quarter, compared to analyst estimates 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, equities analysts predict that Daqo New Energy Corp. will post -3.5 EPS for the current fiscal year.

Daqo New Energy Company 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.