Point72 Asia Singapore Pte. Ltd. Decreases Stock Holdings in Daqo New Energy Corp. (NYSE:DQ)

Point72 Asia Singapore Pte. Ltd. lowered its holdings in Daqo New Energy Corp. (NYSE:DQ) by 64.0% during the 2nd quarter, Holdings Channel reports. The firm owned 8,430 shares of the semiconductor company’s stock after selling 14,957 shares during the period. Point72 Asia Singapore Pte. Ltd.’s holdings in Daqo New Energy were worth $123,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors have also recently bought and sold shares of the business. PNC Financial Services Group Inc. grew its position in shares of Daqo New Energy by 117.5% during the 4th quarter. PNC Financial Services Group Inc. now owns 1,588 shares of the semiconductor company’s stock valued at $42,000 after acquiring an additional 858 shares during the period. Blue Trust Inc. grew its holdings 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 during the period. AXA S.A. increased its position in 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 buying an additional 4,274 shares during the last quarter. Rhumbline Advisers raised its stake in shares of 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 buying an additional 1,470 shares during the period. Finally, Daiwa Securities Group Inc. purchased a new position in shares of Daqo New Energy during the 1st quarter valued at $256,000. Institutional investors own 47.22% of the company’s stock.

Wall Street Analyst Weigh In

DQ has been the topic of a number of research reports. Jefferies Financial Group lowered their price objective on Daqo New Energy from $38.40 to $34.05 and set a “buy” rating on the stock in a research note on Monday, August 26th. StockNews.com raised shares of Daqo New Energy to a “sell” rating in a research report on Monday, September 23rd. Roth Mkm dropped 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 note on Wednesday, August 28th. HSBC upgraded shares of Daqo New Energy from a “hold” rating to a “buy” rating in a research note on Wednesday. Finally, Hsbc Global Res upgraded Daqo New Energy from a “moderate sell” rating to a “hold” rating in a research report on Tuesday, August 27th. Two analysts have rated the stock with a sell rating, two have assigned a hold rating, three have issued a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Hold” and an average price target of $22.26.

Daqo New Energy Trading Down 2.1 %

Shares of NYSE:DQ opened at $21.88 on Friday. The company has a 50 day moving average of $16.33 and a 200 day moving average of $19.17. The stock has a market cap of $1.44 billion, a P/E ratio of 10.27 and a beta of 0.32. Daqo New Energy Corp. has a 12 month low of $13.62 and a 12 month high of $30.03.

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

Daqo New Energy announced that its Board of Directors has initiated a share buyback plan on Monday, July 22nd that allows the company to buyback $100.00 million in shares. This buyback authorization allows the semiconductor company to reacquire up to 8.6% of its stock through open market purchases. Stock buyback plans are generally an indication that the company’s management believes its stock is undervalued.

Daqo New Energy Company 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.