SG Americas Securities LLC Has $126,000 Position in Daqo New Energy Corp. (NYSE:DQ)

SG Americas Securities LLC lessened its stake in shares of Daqo New Energy Corp. (NYSE:DQ) by 69.8% during the 3rd quarter, according to its most recent disclosure with the SEC. The institutional investor owned 6,204 shares of the semiconductor company’s stock after selling 14,357 shares during the period. SG Americas Securities LLC’s holdings in Daqo New Energy were worth $126,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds have also bought and sold shares of the company. Blue Trust Inc. raised 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 worth $29,000 after acquiring an additional 1,950 shares in the last quarter. PNC Financial Services Group Inc. raised its holdings in Daqo New Energy by 117.5% during the fourth quarter. PNC Financial Services Group Inc. now owns 1,588 shares of the semiconductor company’s stock worth $42,000 after acquiring an additional 858 shares in the last quarter. AXA S.A. raised its holdings in Daqo New Energy by 202.3% during 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 in the last quarter. Rhumbline Advisers raised its stake 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 buying an additional 1,470 shares during the period. Finally, Harel Insurance Investments & Financial Services Ltd. raised its stake in Daqo New Energy by 37.9% in the second quarter. Harel Insurance Investments & Financial Services Ltd. now owns 14,442 shares of the semiconductor company’s stock valued at $211,000 after buying an additional 3,970 shares during the period. Institutional investors own 47.22% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research firms have issued reports on DQ. StockNews.com upgraded Daqo New Energy to a “sell” rating in a research note on Monday, September 23rd. Jefferies Financial Group dropped 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. Daiwa Capital Markets restated a “hold” rating and issued a $25.00 price objective (up previously from $18.00) on shares of Daqo New Energy in a research note on Wednesday, October 9th. Roth Mkm dropped their price objective on 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. Finally, Hsbc Global Res upgraded Daqo New Energy from a “hold” rating to a “strong-buy” rating in a research note on Wednesday, October 2nd. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating, three have assigned a buy rating and two have given a strong buy rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $22.26.

Daqo New Energy Trading Up 16.1 %

Daqo New Energy stock opened at $25.54 on Friday. Daqo New Energy Corp. has a 12 month low of $13.62 and a 12 month high of $30.03. The stock’s 50 day moving average is $17.87 and its 200-day moving average is $18.48. The company has a market capitalization of $1.69 billion, a price-to-earnings ratio of 11.99 and a beta of 0.32.

Daqo New Energy (NYSE:DQ) last posted its earnings results on Monday, August 26th. The semiconductor company reported ($1.81) 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 firm 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 company posted $1.34 EPS. As a group, equities research analysts predict 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 program on Monday, July 22nd that authorizes the company to buyback $100.00 million in outstanding shares. This buyback authorization authorizes the semiconductor company to reacquire up to 8.6% of its shares through open market purchases. Shares buyback programs are usually a sign that the company’s board of directors believes its stock is undervalued.

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.