Signaturefd LLC Has $57,000 Position in Daqo New Energy Corp. (NYSE:DQ)

Signaturefd LLC grew its position in shares of Daqo New Energy Corp. (NYSE:DQ) by 27.3% during the third quarter, HoldingsChannel.com reports. The firm owned 2,809 shares of the semiconductor company’s stock after purchasing an additional 602 shares during the period. Signaturefd LLC’s holdings in Daqo New Energy were worth $57,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. PNC Financial Services Group Inc. increased 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 valued at $42,000 after purchasing an additional 858 shares during the period. Blue Trust Inc. raised its position in shares of Daqo New Energy by 12,187.5% during the second quarter. Blue Trust Inc. now owns 1,966 shares of the semiconductor company’s stock worth $29,000 after acquiring an additional 1,950 shares during the last quarter. AXA S.A. lifted its stake in shares of Daqo New Energy by 202.3% in the second quarter. AXA S.A. now owns 6,387 shares of the semiconductor company’s stock worth $93,000 after acquiring an additional 4,274 shares during the period. Rhumbline Advisers boosted its holdings in Daqo New Energy by 22.2% in the second quarter. Rhumbline Advisers now owns 8,104 shares of the semiconductor company’s stock valued at $118,000 after acquiring an additional 1,470 shares during the last quarter. Finally, Daiwa Securities Group Inc. acquired a new stake in Daqo New Energy during the 1st quarter valued at approximately $256,000. 47.22% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

A number of research analysts have recently issued reports on DQ shares. Hsbc Global Res upgraded shares of Daqo New Energy from a “hold” rating to a “strong-buy” rating in a research report on Wednesday, October 2nd. Roth Mkm cut their price target on shares of Daqo New Energy from $23.00 to $15.00 and set a “neutral” rating on the stock in a research report on Wednesday, August 28th. Nomura Securities raised Daqo New Energy to a “strong-buy” rating in a research report on Wednesday, August 28th. The Goldman Sachs Group began coverage on Daqo New Energy in a research report on Thursday, July 11th. They set a “buy” rating on the stock. Finally, HSBC upgraded Daqo New Energy from a “hold” rating to a “buy” rating in a report on Wednesday, October 2nd. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating, three have assigned a buy rating and two have given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, Daqo New Energy currently has an average rating of “Moderate Buy” and an average price target of $22.26.

Daqo New Energy Stock Performance

DQ stock opened at $22.49 on Wednesday. Daqo New Energy Corp. has a fifty-two week low of $13.62 and a fifty-two week high of $30.85. The stock’s 50 day simple moving average is $18.29 and its 200 day simple moving average is $18.45. The company has a market cap of $1.48 billion, a P/E ratio of 10.56 and a beta of 0.32.

Daqo New Energy (NYSE:DQ) last posted its quarterly earnings results on Monday, August 26th. The semiconductor company reported ($1.81) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.56) by ($1.25). Daqo New Energy had a negative net margin of 4.11% and a negative return on equity of 1.04%. The business had revenue of $219.91 million during the quarter, compared to analyst estimates of $406.50 million. During the same period in the previous year, the business posted $1.34 EPS. Equities analysts predict that Daqo New Energy Corp. will post -3.35 earnings per share for the current year.

Daqo New Energy announced that its board has authorized a share buyback program on Monday, July 22nd that allows the company to repurchase $100.00 million in outstanding shares. This repurchase authorization allows the semiconductor company to buy up to 8.6% of its stock through open market purchases. Stock repurchase programs are generally a sign that the company’s board of directors believes its stock is undervalued.

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.