American Century Companies Inc. Has $3.80 Million Position in DAQO New Energy Corp. $DQ

American Century Companies Inc. raised its position in DAQO New Energy Corp. (NYSE:DQ) by 13.4% in the 2nd quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 250,201 shares of the semiconductor company’s stock after purchasing an additional 29,578 shares during the period. American Century Companies Inc.’s holdings in DAQO New Energy were worth $3,796,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors also recently made changes to their positions in DQ. Caitong International Asset Management Co. Ltd raised its holdings in shares of DAQO New Energy by 86,700.0% during the first quarter. Caitong International Asset Management Co. Ltd now owns 1,736 shares of the semiconductor company’s stock worth $31,000 after acquiring an additional 1,734 shares during the period. Virtu Financial LLC bought a new position in DAQO New Energy during the 1st quarter worth about $187,000. Vident Advisory LLC bought a new position in DAQO New Energy during the 1st quarter worth about $216,000. Harvest Portfolios Group Inc. acquired a new stake in shares of DAQO New Energy in the 1st quarter valued at about $305,000. Finally, XTX Topco Ltd bought a new stake in shares of DAQO New Energy in the first quarter valued at about $316,000. 47.22% of the stock is owned by institutional investors.

Analyst Ratings Changes

A number of research firms recently issued reports on DQ. HSBC upgraded DAQO New Energy from a “hold” rating to a “buy” rating and set a $31.00 price objective for the company in a report on Wednesday, August 27th. Wall Street Zen raised DAQO New Energy from a “sell” rating to a “hold” rating in a research report on Monday, November 3rd. The Goldman Sachs Group set a $18.30 price target on shares of DAQO New Energy and gave the stock a “neutral” rating in a research note on Wednesday, October 29th. Citigroup boosted their price objective on shares of DAQO New Energy from $27.00 to $37.00 and gave the stock a “buy” rating in a research report on Monday, September 8th. Finally, Hsbc Global Res upgraded shares of DAQO New Energy from a “hold” rating to a “strong-buy” rating in a report on Wednesday, August 27th. One research analyst has rated the stock with a Strong Buy rating, three have given a Buy rating, two have assigned a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $27.04.

DAQO New Energy Price Performance

DAQO New Energy stock opened at $32.62 on Tuesday. The firm has a market cap of $2.19 billion, a PE ratio of -6.35 and a beta of 0.66. The stock’s fifty day moving average price is $29.97 and its two-hundred day moving average price is $23.91. DAQO New Energy Corp. has a one year low of $12.40 and a one year high of $36.59.

DAQO New Energy (NYSE:DQ) last announced its quarterly earnings results on Monday, October 27th. The semiconductor company reported ($0.22) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.61) by $0.39. The company had revenue of $244.60 million for the quarter, compared to analyst estimates of $176.78 million. DAQO New Energy had a negative net margin of 53.74% and a negative return on equity of 5.89%. Sell-side analysts expect that DAQO New Energy Corp. will post -3.5 earnings per share for the current fiscal year.

DAQO New Energy declared that its Board of Directors has authorized a share repurchase program on Tuesday, August 26th that permits the company to buyback $0.00 in shares. This buyback authorization permits the semiconductor company to buy shares of its stock through open market purchases. Shares buyback programs are typically a sign that the company’s leadership believes its shares are 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.