Atlas Capital Advisors LLC Cuts Stock Position in Daqo New Energy Corp. (NYSE:DQ)

Atlas Capital Advisors LLC decreased its stake in shares of Daqo New Energy Corp. (NYSE:DQ) by 65.9% in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 1,065 shares of the semiconductor company’s stock after selling 2,058 shares during the quarter. Atlas Capital Advisors LLC’s holdings in Daqo New Energy were worth $30,000 at the end of the most recent quarter.

Several other hedge funds have also added to or reduced their stakes in the stock. Quadrant Capital Group LLC increased its holdings in shares of Daqo New Energy by 39.4% during the fourth quarter. Quadrant Capital Group LLC now owns 2,348 shares of the semiconductor company’s stock valued at $62,000 after acquiring an additional 664 shares in the last quarter. PNC Financial Services Group Inc. raised its holdings in Daqo New Energy by 117.5% in the fourth quarter. PNC Financial Services Group Inc. now owns 1,588 shares of the semiconductor company’s stock worth $42,000 after buying an additional 858 shares during the last quarter. Mitsubishi UFJ Asset Management Co. Ltd. lifted its stake in shares of Daqo New Energy by 4.1% in the fourth quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 48,744 shares of the semiconductor company’s stock worth $1,184,000 after buying an additional 1,899 shares in the last quarter. Prelude Capital Management LLC grew its holdings in shares of Daqo New Energy by 0.8% during the fourth quarter. Prelude Capital Management LLC now owns 304,128 shares of the semiconductor company’s stock valued at $8,090,000 after buying an additional 2,548 shares during the last quarter. Finally, Signaturefd LLC increased its position in shares of Daqo New Energy by 112.4% during the fourth quarter. Signaturefd LLC now owns 6,839 shares of the semiconductor company’s stock valued at $182,000 after acquiring an additional 3,619 shares in the last quarter. 47.22% of the stock is owned by institutional investors.

Daqo New Energy Stock Down 0.1 %

Shares of NYSE:DQ opened at $15.29 on Friday. The company has a market capitalization of $1.01 billion, a price-to-earnings ratio of 7.18 and a beta of 0.35. The firm has a 50 day moving average of $19.92 and a 200 day moving average of $22.05. Daqo New Energy Corp. has a 52 week low of $14.86 and a 52 week high of $41.43.

Daqo New Energy (NYSE:DQ) last issued its quarterly earnings data on Monday, April 29th. The semiconductor company reported $0.24 earnings per share for the quarter, missing analysts’ consensus estimates of $0.56 by ($0.32). Daqo New Energy had a return on equity of 2.46% and a net margin of 7.84%. The company had revenue of $415.31 million for the quarter, compared to analysts’ expectations of $491.90 million. During the same quarter last year, the company earned $3.52 earnings per share. On average, sell-side analysts expect that Daqo New Energy Corp. will post 0.98 EPS for the current year.

Analysts Set New Price Targets

A number of research firms have weighed in on DQ. Daiwa Capital Markets reiterated an “underperform” rating and set a $25.00 price objective on shares of Daqo New Energy in a research report on Friday, March 15th. Roth Mkm reissued a “neutral” rating and issued a $23.00 price objective on shares of Daqo New Energy in a research note on Tuesday, April 30th. Finally, HSBC reaffirmed a “reduce” rating and set a $17.50 target price (down previously from $23.50) on shares of Daqo New Energy in a research note on Monday, May 6th. Two equities research analysts have rated the stock with a sell rating, two have issued a hold rating and one has given a buy rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average price target of $27.63.

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.