Daiwa Securities Group Inc. Increases Holdings in Daqo New Energy Corp. (NYSE:DQ)

Daiwa Securities Group Inc. boosted its stake in Daqo New Energy Corp. (NYSE:DQ) by 15.4% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 10,500 shares of the semiconductor company’s stock after purchasing an additional 1,400 shares during the period. Daiwa Securities Group Inc.’s holdings in Daqo New Energy were worth $214,000 at the end of the most recent reporting period.

Other hedge funds also recently added to or reduced their stakes in the company. Signaturefd LLC grew 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 valued at $57,000 after buying an additional 602 shares in the last quarter. Van ECK Associates Corp boosted its holdings in Daqo New Energy by 4.3% in the 3rd quarter. Van ECK Associates Corp now owns 18,657 shares of the semiconductor company’s stock worth $415,000 after acquiring an additional 764 shares during the period. Rhumbline Advisers grew its position 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 in the last quarter. Blue Trust Inc. raised its stake 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 valued at $29,000 after purchasing an additional 1,950 shares during the period. Finally, Boston Partners lifted its position in shares of Daqo New Energy by 3.3% during the first quarter. Boston Partners now owns 78,340 shares of the semiconductor company’s stock worth $2,205,000 after purchasing an additional 2,538 shares in the last quarter. 47.22% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of research firms recently weighed in on DQ. HSBC raised shares of Daqo New Energy from a “hold” rating to a “buy” rating in a report on Wednesday, October 2nd. StockNews.com raised Daqo New Energy to a “sell” rating in a research report on Monday, September 23rd. Daiwa America raised Daqo New Energy from a “hold” rating to a “strong-buy” rating in a report on Wednesday, October 30th. Jefferies Financial Group lowered their price objective on Daqo New Energy from $38.40 to $34.05 and set a “buy” rating for the company in a research note on Monday, August 26th. Finally, Daiwa Capital Markets raised Daqo New Energy from a “neutral” rating to an “outperform” rating in a research report on Wednesday, October 30th. One analyst has rated the stock with a sell rating, one has given a hold rating, four have given a buy rating and three have issued a strong buy rating to the company. According to MarketBeat.com, Daqo New Energy currently has a consensus rating of “Buy” and an average price target of $22.26.

Daqo New Energy Stock Down 0.8 %

Shares of Daqo New Energy stock opened at $20.03 on Monday. The business has a 50-day moving average price of $20.83 and a 200 day moving average price of $18.45. Daqo New Energy Corp. has a fifty-two week low of $13.62 and a fifty-two week high of $30.85. The firm has a market cap of $1.32 billion, a P/E ratio of -10.83 and a beta of 0.32.

Daqo New Energy (NYSE:DQ) last issued its quarterly 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 firm had revenue of $198.50 million during the quarter, compared to the consensus estimate of $186.90 million. During the same quarter last year, the firm posted ($0.09) earnings per share. As a group, equities research analysts anticipate that Daqo New Energy Corp. will post -3.5 earnings per share for the current year.

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.