E Fund Management Hong Kong Co. Ltd. Takes $517,000 Position in DAQO New Energy Corp. $DQ

E Fund Management Hong Kong Co. Ltd. purchased a new position in DAQO New Energy Corp. (NYSE:DQ) in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm purchased 18,378 shares of the semiconductor company’s stock, valued at approximately $517,000.

Other large investors also recently added to or reduced their stakes in the company. Vident Advisory LLC bought a new stake in shares of DAQO New Energy in the 1st quarter valued at approximately $216,000. Millennium Management LLC boosted its stake in DAQO New Energy by 1,261.0% during the first quarter. Millennium Management LLC now owns 354,596 shares of the semiconductor company’s stock worth $6,422,000 after buying an additional 328,541 shares during the period. Goldman Sachs Group Inc. increased its position in DAQO New Energy by 117.2% during the first quarter. Goldman Sachs Group Inc. now owns 1,159,835 shares of the semiconductor company’s stock valued at $21,005,000 after acquiring an additional 625,900 shares during the last quarter. Caxton Associates LLP bought a new position in DAQO New Energy during the first quarter valued at $1,705,000. Finally, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC raised its stake in shares of DAQO New Energy by 34.4% in the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 174,912 shares of the semiconductor company’s stock valued at $3,168,000 after acquiring an additional 44,780 shares during the period. 47.22% of the stock is owned by institutional investors.

DAQO New Energy Stock Performance

Shares of NYSE DQ opened at $29.49 on Wednesday. DAQO New Energy Corp. has a 52-week low of $12.40 and a 52-week high of $36.59. The firm has a market capitalization of $1.98 billion, a price-to-earnings ratio of -5.74 and a beta of 0.60. The stock has a 50 day moving average price of $31.73 and a 200 day moving average price of $26.52.

DAQO New Energy (NYSE:DQ) last released its quarterly earnings data on Monday, October 27th. The semiconductor company reported ($0.22) EPS for the quarter, topping the consensus estimate of ($0.61) by $0.39. DAQO New Energy had a negative return on equity of 5.89% and a negative net margin of 53.74%.The company had revenue of $244.60 million for the quarter, compared to the consensus estimate of $176.78 million. Analysts forecast that DAQO New Energy Corp. will post -3.5 earnings per share for the current year.

Analyst Upgrades and Downgrades

Several brokerages recently commented on DQ. The Goldman Sachs Group set a $18.30 price target on shares of DAQO New Energy and gave the company a “neutral” rating in a report on Wednesday, October 29th. Wall Street Zen raised DAQO New Energy from a “sell” rating to a “hold” rating in a research note on Monday, November 3rd. Roth Capital set a $30.00 price target on DAQO New Energy and gave the stock a “neutral” rating in a report on Tuesday, October 28th. Weiss Ratings restated a “sell (d-)” rating on shares of DAQO New Energy in a report on Monday, December 29th. Finally, New Street Research set a $15.40 price objective on DAQO New Energy in a research report on Thursday, September 18th. One investment analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating, two have issued a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $27.04.

About DAQO New Energy

DAQO New Energy Corp. operates as a leading manufacturer of high-purity polysilicon and monocrystalline silicon wafers for the global solar photovoltaic industry. The company focuses on serving module makers and integrated solar producers with critical upstream materials, applying proprietary technologies and optimized processes to achieve high product purity and consistently low production costs. Its core offerings include solar-grade polysilicon—used in the ingot casting and wafer slicing stages—and premium mono-silicon wafers, which are a key input for high-efficiency solar cell production.

Founded in the late 2000s and listed on the New York Stock Exchange in 2010, DAQO New Energy established its first polysilicon facility in China’s Xinjiang Uygur Autonomous Region.