Public Employees Retirement System of Ohio Makes New $1.05 Million Investment in Daqo New Energy Corp. (NYSE:DQ)

Public Employees Retirement System of Ohio purchased a new position in shares of Daqo New Energy Corp. (NYSE:DQ) during the 3rd quarter, Holdings Channel reports. The institutional investor purchased 51,700 shares of the semiconductor company’s stock, valued at approximately $1,053,000.

Other hedge funds have also recently modified their holdings of the company. Blue Trust Inc. lifted its position in 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 valued at $29,000 after purchasing an additional 1,950 shares in the last quarter. Signaturefd LLC raised its stake in shares of Daqo New Energy by 27.3% in the third quarter. Signaturefd LLC now owns 2,809 shares of the semiconductor company’s stock worth $57,000 after buying an additional 602 shares during the period. AXA S.A. lifted its position in shares of Daqo New Energy by 202.3% during the 2nd quarter. AXA S.A. now owns 6,387 shares of the semiconductor company’s stock valued at $93,000 after buying an additional 4,274 shares in the last quarter. Rhumbline Advisers grew its stake in shares of Daqo New Energy by 22.2% during the 2nd 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 period. Finally, Daiwa Securities Group Inc. increased its holdings in Daqo New Energy by 15.4% in the 3rd quarter. Daiwa Securities Group Inc. now owns 10,500 shares of the semiconductor company’s stock worth $214,000 after acquiring an additional 1,400 shares in the last quarter. Institutional investors own 47.22% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research firms have weighed in on DQ. Roth Mkm dropped their price target on shares of Daqo New Energy from $23.00 to $15.00 and set a “neutral” rating for the company in a research report on Wednesday, August 28th. StockNews.com raised shares of Daqo New Energy to a “sell” rating in a report on Monday, September 23rd. Nomura Securities raised Daqo New Energy to a “strong-buy” rating in a report on Wednesday, August 28th. HSBC raised Daqo New Energy from a “hold” rating to a “buy” rating in a research note on Wednesday, October 2nd. Finally, Hsbc Global Res raised Daqo New Energy from a “hold” rating to a “strong-buy” rating in a research note on Wednesday, October 2nd. One equities research analyst has rated the stock with a sell rating, one has assigned a hold rating, four have given a buy rating and three have assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Buy” and a consensus price target of $22.26.

Daqo New Energy Trading Down 1.0 %

Shares of Daqo New Energy stock opened at $17.40 on Friday. Daqo New Energy Corp. has a 12 month low of $13.62 and a 12 month high of $30.85. The stock has a 50 day moving average of $20.38 and a 200 day moving average of $18.32. The firm has a market cap of $1.15 billion, a PE ratio of -9.41 and a beta of 0.28.

Daqo New Energy (NYSE:DQ) last posted its earnings results on Wednesday, October 30th. The semiconductor company reported ($0.92) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.80) by ($0.12). Daqo New Energy had a negative net margin of 9.16% and a negative return on equity of 1.90%. The business had revenue of $198.50 million during the quarter, compared to analysts’ expectations of $186.90 million. During the same period last year, the business posted ($0.09) earnings per share. As a group, equities research analysts forecast that Daqo New Energy Corp. will post -3.5 earnings per share for the current fiscal year.

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.