E Fund Management Hong Kong Co. Ltd. Invests $517,000 in DAQO New Energy Corp. $DQ

E Fund Management Hong Kong Co. Ltd. acquired a new stake in shares of DAQO New Energy Corp. (NYSE:DQ) during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm acquired 18,378 shares of the semiconductor company’s stock, valued at approximately $517,000.

A number of other hedge funds also recently bought and sold shares of the stock. Headlands Technologies LLC bought a new stake in DAQO New Energy during the 2nd quarter valued at $29,000. Mitsubishi UFJ Asset Management Co. Ltd. lifted its stake in shares of DAQO New Energy by 39.1% during the 2nd quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 31,364 shares of the semiconductor company’s stock worth $476,000 after purchasing an additional 8,815 shares during the last quarter. Vident Advisory LLC bought a new stake in DAQO New Energy during the first quarter valued at about $216,000. Squarepoint Ops LLC grew its stake in DAQO New Energy by 34.0% in the second quarter. Squarepoint Ops LLC now owns 51,516 shares of the semiconductor company’s stock valued at $781,000 after purchasing an additional 13,072 shares during the last quarter. Finally, Public Employees Retirement System of Ohio raised its holdings in DAQO New Energy by 41.6% in the second quarter. Public Employees Retirement System of Ohio now owns 46,300 shares of the semiconductor company’s stock worth $702,000 after purchasing an additional 13,600 shares in the last quarter. Hedge funds and other institutional investors own 47.22% of the company’s stock.

Analyst Upgrades and Downgrades

A number of analysts have recently weighed in on the stock. Roth Capital set a $30.00 price target on shares of DAQO New Energy and gave the company a “neutral” rating in a report on Tuesday, October 28th. Wall Street Zen upgraded shares of DAQO New Energy from a “sell” rating to a “hold” rating in a research note on Monday, November 3rd. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of DAQO New Energy in a research report on Monday, December 29th. The Goldman Sachs Group set a $18.30 price objective on DAQO New Energy and gave the company a “neutral” rating in a report on Wednesday, October 29th. Finally, New Street Research set a $15.40 target price on DAQO New Energy in a research note on Thursday, September 18th. One equities research analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating, two have issued a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $27.04.

DAQO New Energy Trading Down 1.6%

NYSE DQ opened at $29.49 on Wednesday. DAQO New Energy Corp. has a 12-month low of $12.40 and a 12-month high of $36.59. The company has a fifty day simple moving average of $31.73 and a two-hundred day simple moving average of $26.52. The stock has a market cap of $1.98 billion, a P/E ratio of -5.74 and a beta of 0.60.

DAQO New Energy (NYSE:DQ) last released its 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 firm had revenue of $244.60 million for the quarter, compared to the consensus estimate of $176.78 million. DAQO New Energy had a negative return on equity of 5.89% and a negative net margin of 53.74%. As a group, sell-side analysts forecast that DAQO New Energy Corp. will post -3.5 earnings per share for the current year.

About DAQO New Energy

DAQO New Energy Corp. operates as a leading manufacturer of high-purity polysilicon and monocrystalline silicon wafers for the global solar photovoltaic industry. The company focuses on serving module makers and integrated solar producers with critical upstream materials, applying proprietary technologies and optimized processes to achieve high product purity and consistently low production costs. Its core offerings include solar-grade polysilicon—used in the ingot casting and wafer slicing stages—and premium mono-silicon wafers, which are a key input for high-efficiency solar cell production.

Founded in the late 2000s and listed on the New York Stock Exchange in 2010, DAQO New Energy established its first polysilicon facility in China’s Xinjiang Uygur Autonomous Region.