Ariose Capital Management Ltd Raises Stock Position in Daqo New Energy Corp. (NYSE:DQ)

Ariose Capital Management Ltd grew its stake in shares of Daqo New Energy Corp. (NYSE:DQ) by 27.5% during the 4th quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 1,505,709 shares of the semiconductor company’s stock after buying an additional 324,585 shares during the quarter. Daqo New Energy accounts for 24.2% of Ariose Capital Management Ltd’s investment portfolio, making the stock its biggest position. Ariose Capital Management Ltd owned 2.28% of Daqo New Energy worth $29,271,000 as of its most recent filing with the SEC.

A number of other hedge funds also recently made changes to their positions in the stock. Mackenzie Financial Corp boosted its stake in Daqo New Energy by 6.4% in the second quarter. Mackenzie Financial Corp now owns 2,496,997 shares of the semiconductor company’s stock worth $36,456,000 after buying an additional 149,610 shares in the last quarter. Sylebra Capital LLC boosted its stake in shares of Daqo New Energy by 103.9% in the 2nd quarter. Sylebra Capital LLC now owns 943,692 shares of the semiconductor company’s stock valued at $13,778,000 after purchasing an additional 480,980 shares in the last quarter. State Street Corp grew its holdings in shares of Daqo New Energy by 1.1% during the 3rd quarter. State Street Corp now owns 842,921 shares of the semiconductor company’s stock valued at $17,170,000 after purchasing an additional 8,983 shares during the last quarter. Point72 Asset Management L.P. purchased a new position in Daqo New Energy in the 2nd quarter worth $11,080,000. Finally, Marshall Wace LLP lifted its stake in Daqo New Energy by 112.3% in the second quarter. Marshall Wace LLP now owns 322,635 shares of the semiconductor company’s stock worth $4,710,000 after purchasing an additional 170,660 shares during the last quarter. 47.22% of the stock is owned by institutional investors.

Daqo New Energy Stock Up 0.7 %

Shares of Daqo New Energy stock opened at $19.01 on Monday. The company has a market cap of $1.26 billion, a PE ratio of -10.28 and a beta of 0.26. The business has a 50 day moving average of $19.44 and a 200 day moving average of $18.48. Daqo New Energy Corp. has a 52 week low of $13.62 and a 52 week high of $30.85.

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

Analyst Upgrades and Downgrades

A number of research analysts have recently issued reports on the company. StockNews.com raised Daqo New Energy to a “sell” rating in a research note on Monday, September 23rd. Hsbc Global Res upgraded Daqo New Energy from a “hold” rating to a “strong-buy” rating in a research report on Wednesday, October 2nd. Daiwa Capital Markets upgraded Daqo New Energy from a “neutral” rating to an “outperform” rating in a research report on Wednesday, October 30th. HSBC upgraded shares of Daqo New Energy from a “hold” rating to a “buy” rating in a report on Wednesday, October 2nd. Finally, Daiwa America upgraded shares of Daqo New Energy from a “hold” rating to a “strong-buy” rating in a report on Wednesday, October 30th. One analyst has rated the stock with a sell rating, one has given a hold rating, four have issued a buy rating and three have issued a strong buy rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Buy” and an average target price of $22.26.

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.