Daqo New Energy Corp. (NYSE:DQ) Shares Sold by Millennium Management LLC

Millennium Management LLC trimmed its position in Daqo New Energy Corp. (NYSE:DQ) by 29.7% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 26,055 shares of the semiconductor company’s stock after selling 11,011 shares during the quarter. Millennium Management LLC’s holdings in Daqo New Energy were worth $507,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently bought and sold shares of the company. Van ECK Associates Corp raised its stake in shares of 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 valued at $390,000 after acquiring an additional 1,410 shares during the period. Greenwoods Asset Management Hong Kong Ltd. raised its stake in shares of 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 valued at $52,775,000 after acquiring an additional 2,664,381 shares during the period. Generali Investments CEE investicni spolecnost a.s. purchased a new stake in shares of Daqo New Energy in the 4th quarter valued at approximately $52,000. American Century Companies Inc. raised its stake 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 acquiring an additional 17,880 shares during the period. Finally, AI Squared Management Ltd purchased a new stake in shares of Daqo New Energy in the 4th quarter valued at approximately $1,499,000. 47.22% of the stock is currently owned by institutional investors and hedge funds.

Daqo New Energy Stock Up 5.4%

Shares of DQ opened at $14.36 on Monday. Daqo New Energy Corp. has a fifty-two week low of $12.41 and a fifty-two week high of $30.85. The company has a market cap of $962.60 million, a P/E ratio of -7.76 and a beta of 0.59. The firm’s 50 day moving average price is $14.04 and its 200 day moving average price is $17.54.

Daqo New Energy (NYSE:DQ) last posted its quarterly 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). Daqo New Energy had a negative return on equity of 1.90% and a negative net margin of 9.16%. The firm had revenue of $123.91 million for the quarter, compared to analyst estimates of $176.81 million. Research analysts forecast that Daqo New Energy Corp. will post -3.5 earnings per share for the current year.

Wall Street Analyst Weigh In

A number of equities research analysts have recently issued reports on the stock. Hsbc Global Res downgraded shares of Daqo New Energy from a “strong-buy” rating to a “hold” rating in a research note 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 target price on the stock. in a research note on Tuesday, April 15th. Wall Street Zen raised shares of Daqo New Energy to a “sell” rating in a research note on Monday, April 21st. Finally, HSBC downgraded 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 investment analyst has rated the stock with a sell rating, four have given a hold rating, two have given a buy rating and two have issued a strong buy rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $21.01.

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.